Service sector

Unified Communications-as-a-Service (UCaaS) Market to Reach $161.67 Billion by 2031: TMR Study

  • Various SMBs and large enterprises use UCaaS solutions due to their affordability and cloud-based architecture
  • Global Unified Communications-as-a-Service Market Expected to Grow Due to Declining Total Cost of Ownership

WILMINGTON, Del., August 23, 2022 /PRNewswire/ — In 2021, the value of Unified Communications as a Service (UCaaS) Market stood at $44.88 billion. The global market is expected to grow at a CAGR of 15.3% during the forecast period, 2022 to 2031. The market size of Unified Communications as a Service is estimated to affect the value of $161.67 billion by 2031. The proliferation of inexpensive smartphones, increasing internet coverage, as well as the growing use of digital platforms offering remote working are expected to drive the global Unified Communications as a Service (UCaaS) market.

Smartphones can use mobile client software from IP-PBX vendors to access unified communication as well as collaboration features. Market leaders UCaaS offer customers the freedom to join from anywhere in the world. This is likely to increase production and foster better teamwork among workers. The global Unified Communications as a Service (UCaaS) market is also driven by the growing relevance of API-based programmable communication capabilities.

In order to improve their services, public sector companies are implementing these technologies and this trend is expected to emerge as UCaaS industry trends. UCaaS solutions reduce a company’s overall cost of ownership as the pricing strategy used by vendors adapts to the needs of end users within the current IT infrastructure.

Due to the growing popularity of Internet-based communication services among regional SMBs, analysts predict that the Unified Communication as a Service (UCaaS) market in Asia Pacific will grow at a rapid pace. The use of UCaaS and cloud technologies like voice and video conferencing and VoIP unified communications are some of the regional UCaaS market trends.

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Key Findings of the Market Report

  • The global Unified Communications as a Service (UCaaS) market is driven by declining total cost of ownership or TCO. Due to the emergence of cloud-based UCaaS, which gives employees the ability to engage from anywhere, anytime, companies are now installing unified communications at a lower cost compared to PBX systems. on the site. Total cost of ownership is reduced by UCaaS systems, which use software from an externally hosted setup and charge a monthly fee. These benefits of unified communications reduce travel costs while increasing operational efficiency, cooperation and job satisfaction.
  • In order to improve various public services, law enforcement agencies and government institutions need to adopt advanced technologies. These public sector organizations are spending money on unified communications consulting to speed up the exchange of information, strengthen collaboration between departments and also increase productivity. Government enterprises can now more easily adapt to unforeseen circumstances through the use of UCaaS services.
  • The amount of money that companies in the hospitality industry are investing in UCaaS solutions is increasing. Customers using UCaaS solutions should enjoy a convenient and productive travel experience. In addition, it improves the efficiency, production and the sense of cooperation of the workers. Multiple employees can handle customer requests in a UCaaS environment by accessing softphones through their handheld gadgets from anywhere.

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Global Unified Communication as a Service [UCaaS] Market: drivers of growth

  • In terms of components, the Unified Messaging category is expected to dominate the market thanks to the improvement in workplace communication software and the many benefits associated with it. File sharing, instant messaging, and a variety of communication channels including smartphones, voicemail, and email are all parts of Unified Messaging.
  • The largest UCaaS market share is expected to come from North America. The increase in the use of telepresence system, BYOD, and the use of sophisticated business solutions in the region can be attributed to the expansion of the market. The regional businesses all use state-of-the-art unified communications solutions, including professional conferencing, telephone, and unified messaging.

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Global Unified Communication as a Service [UCaaS] Market: key players

Some of the major players in the market are

  • Cisco Systems, Inc.
  • Sangoma Technologies Company
  • Google LLC.
  • Zoom Video Communications, Inc.
  • 8×8, Inc.
  • Dialpad, Inc.

Global Unified Communication as a Service [UCaaS] Market: Segmentation

Making up

  • Telephony
  • Unified Messaging
  • Conference
  • Collaborative platforms and applications

size of the company

  • Large companies
  • Small and medium-sized enterprises (SMEs)

Final user

  • BFSI
  • IT & Telecom
  • Retail and consumer goods
  • Health care
  • Government
  • Logistics & Transportation
  • Others

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