Global Unified Communication as a Service (UCaaS) Market Share Is Likely To Reach At A CAGR Value Of Around 20.1% By 2030

22-Mar-2023 | Facts and Factors

According to Facts and Factors, the global unified communication as a service (UCaaS) market size was worth around USD 26 billion in 2022 and is predicted to grow to around USD 150.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 20.1% between 2023 and 2030.

The global industry deals with technologies that support cloud-based solutions for enterprise collaboration and communication. It works as a single platform that allows seamless integration of different communication tools along with associated services. Some features of integrated tools include messaging, voice, videos, and other services. The approach used in the creation of UCaaS systems makes way for simplified communication which ultimately translates to improved collaboration between employees and their productivity. The fraternity is registering high sales volume due to various factors and with the growing launch of new tools along with improved customer management services, it is projected to reach new heights in the coming years.

Browse the full “Unified Communication as a Service (UCaaS) Market Size, Share, Growth Analysis Report By Industry (Real Estate, Education, Automotive, Legal, Hospitality, IT & Telecom, Healthcare, and Others), By Deployment (On-Premises and Cloud), By Architecture (Multiple Tenant and Single Tenant), By Enterprise Size (Large and Small & Medium), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030" report at https://www.fnfresearch.com/unified-communication-as-a-service-ucaas-market

The global unified communication as a service (UCaaS) market is projected to grow owing to the increasing remote work culture which gained higher momentum as a result of the Covid-19 impact. This trend is not only beneficial to the employees but has shown positive results for companies as well. For instance, flexible work culture allows for work-life balance thus improving employee productivity, it also assists in technological advancements within the firm as there is a need for cloud-based systems.

Furthermore, remote work can aid talent pool expansion since there are no geographical boundaries that restrict the hiring process. It has proven to be a cost-saving mode. In addition to this, the growing demand for mobility within the corporate environment can lead to higher adoption of UCaaS systems. With the rise in the use of mobile and smart systems for business purposes, employees are in need of a high-speed and advanced communication system that lets them collaborate without any glitches. UCaaS solution providers can integrate these platforms to be run on mobile systems and are highly customizable. Growing advancements in technology including 5G, machine learning, artificial intelligence, and other fields, could lead to the expansion of the UCaaS systems and services.

With the growth, the global industry may also face certain restraints in the coming years. One of the major limitations is the lack of necessary information technology (IT) infrastructure in many regions, especially countries that are currently undergoing severe economic loss due to socio-political factors or regions that are prone to natural disasters that can significantly destroy existing structures. The latest examples are the massive earthquakes in the Turkey region leading to mass destruction.

Moreover, there is a significant gap between the demand and availability of experts in this sector. Companies with fewer employees or the ones that do not have in-house IT-systems in place may find it difficult to integrate UCaaS systems in company operations due to the lack of experts or employees with IT knowledge.

The growing adoption of cloud technology could promote higher growth whereas the issues surrounding interoperability challenge the market expansion.

Segmental Overview:

The global unified communication as a service market is segmented based on industry, deployment, architecture, enterprise size, and region.

Based on industry, the global market segments are real estate, education, automotive, legal, hospitality, IT & telecom, healthcare, education, and others.

Based on deployment, the global market is divided into on-premises and cloud.

• The global market registered the highest growth in the cloud segment in 2020 especially in public cloud deployment
• In this system, the platform is generally managed by third-party solution providers where clients can access the systems with the help of the internet
• These deployment methods are cost-effective and offer excellent scalability which has led to higher demand in the commercial market
• Furthermore, public cloud systems are highly secure due to the employment of internal security teams which makes them safer to use
• The price of Microsoft Teams Enterprise is between USD 12 to USD 35 per month

Based on architecture, the global market divisions are multiple tenant and single tenant

Based on enterprise size, the global market divisions are large and small & medium.

• The global industry was led by the large enterprise segment in 2022 and may continue with this trend in the coming years
• Since larger corporations have complex business operational structures and employe more people, their demand for services supporting collaboration is comparatively higher
• The communication need for companies with more than 1000 employees requires them to install advanced systems
• However, the adoption rate in smaller companies is growing rapidly and it may emerge as an important contributor in the coming years

Regional Overview:

North America is anticipated to lead the global unified communication as a service (UCaaS) market with the US acting as a major contributor. The regional growth is associated with the already existing advanced IT infrastructure of the country along with growing investments across government and private sectors to deploy more advanced technological systems.

For instance, Microsoft has invested heavily to deploy artificial intelligence run features in its Teams product to add real-time translation and background noise suppression. Asia-Pacific is anticipated to emerge as an important region for global industry growth with growing research and product launched in countries like India and China. The small and medium enterprise (SME) segment could grow with a high CAGR due to growing production innovation and adoption.

Report Scope

Competitive Landscape:

The global unified communication as a service (UCaaS) market is led by players like 8x8, Cisco Webex, Microsoft Teams, Mitel, Google Meet, Zoom, Avaya, Vonage, LogMeIn, Broadsoft, Slack, RingCentral, GoToMeeting, Fuze, StarLeaf, Jive Communications, Intermedia Unite, and BlueJeans amongst many others.

Recent Developments:

• In November 2022, Zoom, a highly popular UCaaS platform, announced the addition of new features to improve the collaboration experience. The new feature will assist in adding a calendar and zoom mail
• In October 2021, LogMeIn announced the introduction of GoToConnect Legal, a solution developed especially for the legal industry. The new tool provides advanced collaboration features and is designed to improve performance and profitability for legal professionals
• In February 2022, LogMeIn was rebranded as GoTo as it intends to target small and medium companies by offering simpler solutions

The global unified communication as a service market is segmented as follows:

By Industry

• Real Estate
• Education
• Automotive
• Legal
• Hospitality
• IT & Telecom
• Healthcare
• Others

By Deployment

• On-Premises
• Cloud

By Architecture

• Multiple Tenant
• Single Tenant

By Enterprise Size

• Large
• Small & Medium

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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