Global Unified Communication as a Service Market Report and Forecast 2024-2032

Global Unified Communication as a Service Market Outlook

The global unified communication as a service market size reached a value of around USD 100.70 billion in 2023. The market is expected to grow at a CAGR of 24.0% between 2024 and 2032, reaching a value of approximately USD 697.96 billion by 2032.

Key Trends in the Market

Unified communications as a service or UCaaS refers to a unified communications paradigm that is supplied via the cloud and provides a wide range of communication and collaboration tools and services. It offers single-tenant and multi-tenant services for email, instant messaging, video conferencing, call forwarding, and voice communication tools. Also, it improves operational effectiveness and assists in lowering capital expenditures for purchasing hardware equipment and outsourcing resources.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

• The advent of 5G technology and high-speed internet is anticipated to increase the unified communication as a service market share over the forecast period. This increase is attributed to the growing requirements of a connection with high speed and low latency for video and audio conferencing.

• Increasing demand for BYOD (bring your own device) systems in the corporate sector is another crucial trend in the UCaaS market. In such situations, employees are instructed to bring their own devices to work rather than rely on the company's hardware.

• The growing popularity of cloud services in big organisations is one of the key unified communication as a service market trends contributing to market expansion. This is because these services provide employees with real-time monitoring and resource efficiency features which are boosting the growth of the market.

• In addition, the global unified communication as a service (UCaaS) market is being supported by the growing incorporation of artificial intelligence (AI) and the internet of things (IoT) in UCaaS. These incorporations are done to provide a wide range of advantages, such as automated transcripts, smart speaker tracking, and intuitive call records.

Global Unified Communication-As-A-Service Market Analysis

Based on component, the market is segmented into telephony, unified messaging, collaboration platforms, and conferencing, among others. On the basis of deployment mode, the market is divided into public cloud and private cloud. By delivery model, the market is bifurcated into managed service and hostel/cloud services. The market on the basis of organisation size is segregated into large enterprises and small and medium sized enterprises. Based on end user, the global unified communications as a service (UCaaS) market is categorised into BFSI, retail, healthcare, government and public sector, and IT and telecom, among others. The regional markets for unified communication as a service are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global unified communication as a service market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Avaya Inc.

• ALE International

• 8X8 Inc

• Cisco Systems, Inc.

• Mitel Networks Corporation

• Gamma Communications PLC

• NTT Communications Corporation

• Vodafone Group PLC

• Telia Company AB

• RingCentral, Inc.

• Verizon Communications, Inc

• Others

Unified Communications as a Service Market Share by End User

The IT and telecom end users accounted for a significant share of the unified communication as a service (UCaaS) market in the historical period. The demand to use UCaaS solutions is being driven by the persistent push by a number of IT and telecom organisations to implement more effective collaboration among their geographically dispersed teams. IT and telecom firms are working with international distributors to effectively deploy the UCaaS services. The necessity for data security and privacy protection rises as a result of dealing with government agencies and organisations to provide them with secure calling and effective information interchange. This is motivating the UCaaS solution offered by the IT and telecom firms, thus increasing the market growth.

Healthcare end users are anticipated to see considerable growth in the unified communication as a service (UCaaS) market over the forecast period as the need for patients to communicate effectively with officials and care givers to receive better care increases. The implementation of UCaaS in healthcare technology motivates manufacturers and healthcare providers to introduce technical advancements in their businesses. Healthcare providers, who usually have minimal IT budgets, have adopted cloud-based solutions more frequently as they are more cost-effective.

Unified Communications as a Service Market Share by Region

North America is one of the leading regions in the unified communication as a service market. Retail, BFSI, healthcare, IT and telecom are examples of end-user verticals in the United States that demand a more direct and seamless experience for all of their interactions. These include audio, video, and chat, regardless of where they are. Additionally, enterprises are seeking a unified deployment and administration solution from a single provider to meet their UCaaS needs. With the introduction of 5G, they are able to combine remote connectivity technologies on a single UCaaS platform.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Avaya Inc., headquartered in North Carolina in the United States and founded in 2000, is an American technology firm that specialises in business communications services such unified communications (UC) and contact centres (CC). Their multi-cloud application ecosystem and cloud communications solutions enable tailored, intelligent, and simple employee and customer experiences that support strategic goals and desired results.

8X8 Inc., founded in 1987, is one of the top software-as-a-service (SaaS) providers of phone, chat, video, contact centres, and enterprise-class API solutions powered by a single global cloud communications platform. With its headquarters in California in the United States, 8x8 enables workforces all over the world to link individuals and teams so they may communicate more quickly and productively.

Verizon Communications, Inc., established in 2000 and headquartered in New York in the United States, is one of the top providers of technology and communications services worldwide. They provide value-added services such data centre and cloud services, security and managed network services, corporate networking solutions, as well as local and long-distance voice services for broadband video and data.

Other market players include ALE International, Cisco Systems, Inc., Mitel Networks Corporation, Gamma Communications PLC, NTT Communications Corporation, Vodafone Group PLC, Telia Company AB, and RingCentral, Inc., among others.

Key Highlights of the Report