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The global UCaaS market size is would grow from USD 15.7 Billion in 2015 to USD 31.3 Billion by 2022, at a CAGR of 10.5% during the forecast period. The major factors that are driving the market are low cost of ownership as compared to other communications tools, pay-per-use model, growing mobility trends and Bring Your Own Device (BYOD), single platform integration of all communicating services, rapidly growing demand by SMBs, and continuous service support options.
Over the years, the demand for VoIP and IP telephony in BFSI, telecom & IT, logistic & transportation, and travel & hospitality industries have been witnessed, which are the major factors driving the growth of telephony in the UCaaS market. The adoption of UCaaS technology would be largely witnessed in the consumer goods and retail verticals, as streamlining business processes would be quick, and also real-time services and faster transaction closures could be achieved seamlessly. Additionally, BFSI, logistic & transportation, and IT & telecom verticals would also derive benefit from the implementation of UCaas and would drive adoption during the forecast period. The report highlights the adoption of UCaaS (Unified Communication-as-a-Service) market, globally.
Based on the component, the UCaaS market is segmented into Telephony, Unified messaging, Conferencing and Others Robotics. Based on the Deployment, the market is segmented across On-Premise, Cloud Based segments. The report further segments the market based on the End User Organization Size as Small & Medium Enterprises and Large enterprises. Industry vertical wise the market is bifurcated as Consumer goods and retail, Telecom and IT, BFSI, Healthcare, Public sector and utilities, Logistics and transportation, Travel and hospitality and Others. The geographies included in the report are North America, Europe, Asia Pacific and LAMEA.
Some of the major market leaders profiled in the report are Cisco Systems (U.S.), Computer Science Corporation (U.S.), BT Group (U.K.), 8x8 (U.S.), West Corporation (U.S.), Microsoft Corporation (U.S.), Voss Solutions (U.S.), Verizon Communication (U.S.), Star2star Communications (U.S.), and Polycom (U.S.).