Unified Communication as a Service Market is estimated to witness a tremendous growth over the upcoming years, because of the emerging need for effective communication across several industries.

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Key Drivers

The global Unified Communication as a service market (UCaaS) is predicted to grow at a significant rate during the forecast period. The increasing acceptance of the cloud as a service (CaaS) model across companies is one of the biggest factors that is contributing to the growth of the market. Cloud-based unified Communication (UC) solutions are encouraging enterprises to move towards cloud platforms due to the continuous collaborative capabilities and innovation. Businesses around the world are embedding features such as chats, audio, video services, and chats for automating the Communication process. This factor has motivated them to opt for unified Communication as a service (UCaaS) solutions to meet their goals. Moreover, the innovations in technologies like Artificial Intelligence, Internet of Things and Machine Learning, expansion of e-learning platforms and rising investments by the key players on research and development, are some other factors supplementing the Unified Communication as a Service Market size. As per the report published by Bloomberg, the Global E-Leaning Market is projected to touch USD 15,000 million by the end of 2028, witnessing a CAGR of 6.5% over the forecast period (2022-2028), which will boost the Ucaas Market size in the approaching years. A significant surge in the number of mobile internet users globally, because of the growing penetration of smartphones and other connected devices, will bolster the UCaaS cloud model. According to the International Telecommunication Union, nearly 4.9 billion people had access to the Internet in 2021, which signifies 63% of the world population.

The emerging trend of distance learning is another factor that is driving the market’s growth in the coming years. As per the Remote Work Trend report submitted by Microsoft Corporation in 2020, around 183,000 occupants in 175 countries are using the Microsoft Teams platform for distance learning. Thus, the increasing trend of BYOD and distance learning are opening new doors for the growth of the UCaaS market size. Moreover, the outbreak of the COVID-19 pandemic has shifted the world towards the remote working platform in order to eliminate the chances of contracting coronavirus. Thus, the shift towards work from home culture has surged the demand for services such as mobile telephony, video conferencing, web conferencing, and other alternative solutions to secure cloud connectivity. The organizations are also moving towards cloud service models to manage their teams and improve the employee’s productivity. As per the World Economic Forum, in 2020, more than 1.2 billion students across 186 countries were impacted by the temporary shutdown of schools and colleges. This situation has pushed the government to support digital learning approaches. Various unified Communication as a service provider has contributed to offer a superlative digital learning experience by using UCaaS platforms such as Zoom. For example, in 2020, Zoom Video Communications, Inc., supported around 100,000 K-12 schools by offering them access to their unified Communication service platform during the crisis situation. Thus, all these factors are surging the growth of unified Communication as a service market share in terms of revenue.

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Component – Segment Analysis

Based on the components, the telephony segment is expected to grow at a higher CAGR during the forecast period. The vendors are offering telephony as an important product due to the strong demand among the small and medium enterprises (SMEs) as these solutions are helping in streamlining the enterprise Communication and increase the overall profitability. This is one of the major factors that is contributing to the segment growth over the coming years.

Organization Size – Segment Analysis

Based on the organization size, the large enterprises segment is anticipated to dominate the market during the forecast period. Large companies are increasingly opting for BYOD trends, which is indirectly surging the demand of UCaaS solutions. This type of solution is providing exceptional benefits similar to that of cloud services. Instead of purchasing, installing, managing, and maintain an on-premises UC system, the organization can use UCaaS solution which will not only help in decreasing the cost but will also improve the security level. The growing adoption of BYOD (Bring Your Own Device), remote working and work-from-home trend have bolstered the demand for effective communication in business, driving the market growth.

Vertical – Segment Analysis

Based on the vertical, the BFSI segment is predicted to witness a faster CAGR during the forecast period. The increasing adoption of private cloud distribution model by banking institutions for securing sensitive information is a significant factor that is surging the segment’s growth. The UCaaS enable financial institutions to achieve scalability for large-scale implementation, which includes mobile transactions, account monitoring, chatbot-enabled messaging and various other features.

Healthcare application is projected to hold a larger share over the forecast period, because of the ongoing technological advancements in the healthcare industry, which has bolstered the expansion of digital infrastructure and integration of novel communication tools. The emerging need to develop interconnection among the hospital care teams to allow accurate and timely diagnosis and treatment may augment the UCaaS market forecast.

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Regional Analysis

Based on the region, Asia-pacific region is expected to dominate the market during the forecast period. The increasing deployment of Voice over Internet Protocol (VoIP) and hosted Private Branch Exchange (PBX) solutions is one of the biggest factor that is responsible for the regional market growth. In addition to this, the emerging trend of adopting cloud solutions, particularly in China, Australia, and Japan, is another factor that is driving the market growth. There is strong competition among the domestic players with system integrators and service providers. This competitiveness has encouraged the service providers to improve and expand their service portfolios in emerging economies. Thus, the improvement in infrastructure is likely to expand the growth of the cloud services capabilities, thus driving the regional market growth.

Europe Unified Communications as a Service market is expected to generate a higher revenue share, because of the increasing emphasis on protection of privacy and data security, primarily across countries including Germany and France. In addition, the growing IT and telecom infrastructure across the region has encouraged the adoption of UCaaS solutions, generating revenues.

Top Market Players

Various notable players operating in the market include RingCentral, Inc., BT, Verizon, Orange, 8×8 Inc., Cisco, Google LLC, Microsoft Corporation, LogMeIn, Inc., and Mitel Networks Corp., among others. 

Key Developments:

• • In 2020, RingCentral entered into a partnership with Altura, with an aim to improve cloud Communications and contact center solutions. Through this partnership, the later will help RingCentral to bring its cloud Communications and contact centre solutions to the US enterprises across various industries such as government, education, and healthcare.
  • In 2019, Verizon successfully collaborated with Zoom to offer a new solution for unified Communications. With the collaboration, the individuals will be able to access the Zoom meeting to the current Verizon customers from Verizon wireless phones or VoIP solutions.
  • In 2019, 8×8 Inc., entered into a partnership with Poly and ScanSource in order to deliver cloud-based Communication solutions. This partnership offered easy move away option for the customers.

Segments covered in the Report:

The global unified Communication as a service market has been segmented on the basis of components, organization size, vertical, deployment mode and regions. Based on components, the market is segmented into telephony, unified messaging, collaboration platform, conferencing and reporting and analytics. Based on organization size, the market is segmented into small and medium sized enterprise and large enterprise. Based on vertical, the market is segmented into BFSI, Telecommunication and IT, consumer goods and retail, healthcare, public sector and utilities, logistics and transportation, travel and hospitality and others. Based on deployment mode the market is segmented into private cloud and public cloud. 

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Key questions answered in this research report:

• • At what pace is global unified Communication as a service market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in unified Communication as a service market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global unified Communication as a service market?
  • Which components generated maximum revenues in 2019 and identify the most promising components during the forecast period?
  • What are the various organization size areas of global unified Communication as a service market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Components, By Organization Size, By Vertical, By Deployment Mode, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	RingCentral, Inc., BT, Verizon, Orange, 8×8 Inc., Cisco, Google LLC, Microsoft Corporation, LogMeIn, Inc., and Mitel Networks Corp., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Unified Communication as a service Market by Components

• • Telephony
  • Unified Messaging
  • Collaboration Platform
  • Conferencing
  • Reporting & Analytics

Global Unified Communication as a service Market by Organization Size

• • Small and Medium-Sized Enterprises
  • Large Enterprises

Global Unified Communication as a service Market by Vertical

• • BFSI
  • Telecommunication and IT
  • Consumer Goods and Retail
  • Healthcare
  • Public Sector and Utilities
  • Logistics and Transportation
  • Travel and Hospitality
  • Others

Global Unified Communication as a service Market by Deployment Mode

• • Private Cloud
  • Public Cloud

Global Unified Communication as a service Market by Region

• • North America Unified Communication as a service Market (Option 1: As a part of the free 25% customization)
    • By Components
    • By Organization Size
    • By Vertical
    • By Deployment Mode
    • US Market All-Up
    • Canada Market All-Up
  • Europe Unified Communication as a service Market (Option 2: As a part of the free 25% customization)
    • By Components
    • By Organization Size
    • By Vertical
    • By Deployment Mode
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Unified Communication as a service Market (Option 3: As a part of the free 25% customization)
    • By Components
    • By Organization Size
    • By Vertical
    • By Deployment Mode
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Unified Communication as a service Market (Option 4: As a part of the free 25% customization)
    • By Components
    • By Organization Size
    • By Vertical
    • By Deployment Mode
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Unified Communication as a service (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • RingCentral, Inc
  • BT
  • Verizon
  • Orange
  • 8×8 Inc
  • Cisco
  • Google LLC
  • Microsoft Corporation
  • LogMeIn, Inc
  • Mitel Networks Corp