The “Unified Communication as a Service (UCaaS) Market to 2025 -Global Analysis and Forecasts by Deployment Model, Services and End-users” report provides a detailed overview of the major factors impacting the global market with the market share analysis and revenues of various sub segments.
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Unified communication as a service (UCaaS) is a digital platform for advanced connectivity, supporting functions like telephony including mobile support, directory services, call, multimedia, conferencing consisting of audio, video and web, instant and presence messaging, and email with voice mail and unified messaging, within an organization. UCaaS is a model wherein a variety of collaboration and communication packages and applications are outsourced to a third-party vendor and provided over a network. It is based on cloud computing, over the Internet Protocol (IP) network and supports wide range of users across small scale, medium scale and enterprise scale industry, thereby being the chief driver of global UCaaS market.
The global UCaaS market can be segmented by deployment model, namely: on-premise and hosted/cloud. Further the hosted UCaaS market is segmented in UC software as a service (SaaS), UC platform as a service (PaaS), and UC Infrastructure as a service (IaaS). The global UCaaS market is segmented based on services into collaboration services, contact center services, telephony services, and UC application services. Furthermore, the global UCaaS market is segmented by end-users into small and medium-size enterprise (SME), large enterprise, public sectors, BFSI, and others (such as hospitality, retail, etc.).
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Today small and medium businesses are facing a challenge on how to reduce cost of operations, communication, and improving productivity of their employees. To solve this problem, UCaaS vendors are focusing on low cost packages to businesses, which improves work environment in office, serving better customer experience, securing connection, and enabling remote location access. Consumer goods & retail industry is currently transforming from standalone ventures to big organizations, which would need the finest possible communication system for enhanced business trades. This is anticipated to be the key factor for the growing adoption of UCaaS in retail industry. However, security concerns and lack of awareness are key factors hindering the global UCaaS market. Also, limitation on total number of accounts in the enterprise, weak resolution in video conference, and ease of use are factors that hinder the global UCaaS market to an extent.
The growing demand for UCaaS and its increased adoption in SMEs are factors expected to significantly contribute to the progress of the UCaaS market worldwide. In addition, the low operational cost of UCaaS solutions and its pay-per-use characteristics are also expected to boost the market. Currently, organizations prefer cloud-based integrated communication as it can be utilized by a varied array of end-users from industries such as IT & telecom, BFSI, and healthcare among others. UCaaS technologies provides enterprise messaging and presence technology, telephony and video conferencing. Due to its flexibility, high level of scalability and availability to core business tasks, it is adopted by a numerous organizations as it enhances business practices by reforming communication, & therefore increases revenues. Some of the major players in this market are Avaya Inc., Cisco Systems, Inc., Microsoft Corporation, Alcatel-Lucent S.A., Hewlett-Packard Development Company L.P., IBM Corporation, Visionoss Limited, Verizon Communications Inc., Polycom, Inc., and Computer Sciences Corporation.
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