According to the latest report by IMARC Group, titled “Unified Communications-as-a-Service Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global unified communications as a service market size reached a strong growth in 2020. Unified Communications-as-a-Service (UCaaS) stands for an extension of the Software-as-a-Service (SaaS) model that provides telecommunication services via an integrated information protocol (IP) platform. It primarily offers e-mail, instant messaging, call routing, videoconferencing and voice communication tools through numerous single-tenant and multi-tenant services. The single-tenant service is adopted for connecting all on-premises applications together, while the multiple-tenant service is hosted on the cloud of the service provider and to enable multiple clients to share a single software platform. UCaaS offers improved operational flexibility along with minimizing capital investments to acquire hardware equipment and outsource resources. As a result, it is widely adopted across various industries, such as BFSI, IT and telecommunications, healthcare, transportation, logistics, hospitality, etc.
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The rising requirement for effective communication solutions across diverse industry verticals is one of the primary drivers for the global UCaaS market. Furthermore, the growing adoption of cloud computing solutions is also propelling the global market for UCaaS. Numerous large organizations and small and medium enterprises (SME) are widely adopting cloud-based UCaaS solutions to simplify workflow processes, interpreting data, and providing specific insights. Several technological advancements have led to the development of artificial intelligence (AI) and machine learning (ML)-based solutions for high-end communications. These solutions provide various benefits, including automated transcripts, smart tracking of speakers and intuitive call recordings, etc., thereby augmenting the global market for UCaaS.
Breakup by Solution Type:
- Telephony
- Unified Messaging
- Conferencing
- Collaboration Platforms
- Others
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Deployment Mode:
- Public Cloud
- Private Cloud
- Hybrid Cloud
Breakup by Vertical:
- BFSI
- IT and Telecom
- Healthcare
- Transportation and Logistics
- Travel and Hospitality
- Media and Entertainment
- Others
Competitive Landscape with Key Player:
- 8x8 Inc.
- Ale USA Inc.
- AT&T Inc. (China Huaxin Post and Telecom Technologies Co.Ltd.)
- BT Group Plc
- Cisco Systems Inc.
- Fuze Inc.
- Microsoft Corporation
- NTT Communications (The Nippon Telegraph and Telephone Corporation)
- Ringcentral Inc.
- Verizon Communications Inc.
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