Introduction of the Unified Communication as a service Market Report

Unified Communication as a service (UCaaS) refers to a cloud-delivered unified Communications model that basically supports six Communication functions, which include enterprise telephony, meetings, unified messaging, instant messaging, and others. It comes under the category of “as a service” or “cloud” delivery mechanism for enterprise Communications. UCaaS is similar to the platform as a service (PaaS) and can be made available from the cloud to businesses from small and medium businesses to large enterprises. The global Unified Communications as a Service market mainly covers two types of organizations: Small and Medium-sized enterprises and large enterprises.

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Market Dynamic

Key Drivers and Emerging Trends

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.

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.

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.

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Regional – Segment 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.

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