Unified Communications as a Service (UCaaS) Market Set to Skyrocket to $118.8 Billion by 2031, Riding a 16.3% CAGR Wave
Unified Communications as a Service Market Growth
🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A47397
Allied Market Research published a report, titled, "Unified Communications as a Service Market by Component (Telephony, Unified Messaging, Conferencing, Collaborative Platform and Application), by Deployment Model (Managed Service, Hosted/Cloud Service), by Organization Size (Large Enterprises, Small and Medium Enterprises), by Industry Vertical (Media and Entertainment, BFSI, IT and Telecom, Healthcare, Automotive and Transportation, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031."
Unified Communication addresses communication issues in new ways by delivering an integrated platform where all these applications are in use for providing and combining multiple enterprise communication channels, such as voice, video, personal and team messaging, voicemail, and content sharing. As a result, companies adopt unified communication as a service to use tools to create multichannel sessions. Thus, employees can collaborate effectively and make business value in real-time settings. In addition, unified communication as a service allows employees to work regardless of the endpoint, location or network used to access the platform resulting in market growth.
Moreover, the remote work trend has pushed IT to adopt technologies that support a decentralized workplace, positioning unified communications as a service market forecast and a convenient technology for enterprises. Unified communications as a service also offer solutions including automated transcripts, smart tracking of speakers, and intuitive call recordings, which, in turn, contributes toward Ucaas market growth. Furthermore, surge in integration for cloud-based solutions due to inherent feature of cost-effectiveness and easier to scale in unified communication across different end-use industries, contributes toward significant expansion of the UCaaS market.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/unified-communications-as-a-service-market/purchase-options
The conferencing segment to dominate the market during the forecast period
Based on component, the conferencing segment contributed to the largest share of nearly one-third of the global unified communications as a service market in 2021 and is expected to maintain its dominance during the forecast period. This is owing to the rise in remote working trend that led to an increased demand for UCaaS conferencing solutions, as businesses seek to communicate and collaborate effectively with their remote team solutions. The unified messaging segment, however, is projected to witness the fastest CAGR of 17.9% from 2022 to 2031. This is owing to the increasing demand for remote work and collaboration tools.
The hosted/cloud service segment to grab the lion's share during the forecast period
Based on deployment model, the hosted/cloud service segment grabbed the highest share of three-fifths of the unified communications as a service market in 2021 and is expected to dominate the market in 2031. This is because companies are looking for ways to improve collaboration and productivity among their employees. The managed service segment, however, would witness the fastest CAGR of 17.3% from 2022 to 2031. This is owing to the rise in cyber threats which has led to an increased demand for managed security services, including threat detection and response, data protection, and compliance management.
North America to achieve the largest revenue by 2031
Based on region, the market in North America was the largest in 2021, accounting for more than one-third of the global unified communications as a service market and is likely to maintain its dominance during the forecast timeframe. This is owing to the increase in demand for connected interfaces, growth associated with cloud technology, and penetration of bring your own devices (BYOD) in the U.S. However, the market in Asia-Pacific is likely to show the fastest CAGR of 18.6% during the forecast period. This is owing to the rapidly digitized straining cloud networks and data centers in the region, where the adoption of edge computing is helping to reduce latency, enhance security, and maximize reliability.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/unified-communications-as-a-service-market-A47397
Leading Market Players
Zoom Video Communications, Inc.
Microsoft Corporation
Mitel Networks Corp.
Avaya Inc.
Genesys
8x8, Inc.
Google LLC (Alphabet)
Cisco Systems Inc.
NEC Corporation
RingCentral, Inc.
The report analyzes these key players of the global unified communications as a service market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐈𝐂𝐓 & 𝐌𝐞𝐝𝐢𝐚 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:
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David Correa
Allied Market Research
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