Unified Communication-as-a-Service (UCaaS) Market To Reach $161.67 Billion By 2031: TMR Study | Panda Anku

  • Various SMBs and large enterprises use UCaaS solutions due to their affordability and cloud-based architecture

  • The global Unified Communication as a Service market is expected to grow due to lower total cost of ownership

Wilmington, Del., August 23, 2022 /PRNewswire/ — In 2021, the value of the global Unified Communication-as-a-Service (UCaaS) market was at $44.88 billion. The global market is expected to develop at a CAGR of 15.3% during the forecast period of 2022 to 2031. The market size of Unified Communications as a Service is estimated at the value of $161.67 billion by 2031. The proliferation of low-cost smartphones, growing internet coverage, as well as the increasing use of digital platforms that offer remote working are expected to benefit the global Unified Communication-as-a-Service (UCaaS) market.

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Smartphones can use mobile client software from IP PBX providers to access unified communication and collaboration features. UCaaS market leaders offer customers the freedom to join from anywhere in the world. This should increase performance and promote better teamwork among workers. The global Unified Communication-as-a-Service (UCaaS) market is also being driven by the growing importance of API-based programmable communication functions.

To improve their services, public sector companies are implementing these technologies and this trend is expected to emerge as a UCaaS industry trend. UCaaS solutions lower an organization’s total cost of ownership because the vendors’ pricing strategy matches end-user needs within the current IT infrastructure.

Due to the increasing popularity of internet-based communication services among the regional SMEs, analysts are forecasting that the market for Unified Communication-as-a-Service (UCaaS) in Asia Pacific will expand at a rapid pace. The use of UCaaS and cloud technologies such as voice and video conferencing and VoIP unified communications are among the regional UCaaS market trends.

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Key Findings of the Market Report

  • The global Unified Communication-as-a-Service (UCaaS) market is driven by lower Total Cost of Ownership or TCO. With the advent of cloud-based UCaaS that gives employees the power to engage anytime, anywhere, businesses are now installing unified communications at a lower cost compared to on-premises PBX systems. Total cost of ownership is lowered by UCaaS systems that use software from an externally hosted setup and charge a monthly fee. These unified communications benefits save on travel expenses while increasing operational efficiency, collaboration and job satisfaction.

  • In order to improve various public services, law enforcement agencies and government institutions must rely on cutting-edge technologies. Such public sector organizations spend money on Unified Communications consulting to speed up information sharing, strengthen departmental collaboration and also increase productivity. Government companies can now more easily adapt to unforeseen circumstances due to the use of UCaaS services.

  • The sums that companies in the hotel industry invest in UCaaS solutions are increasing. Customers using UCaaS solutions should benefit from a convenient and productive travel experience. In addition, it improves the efficiency, production and sense of collaboration among workers. Multiple employees can manage customer inquiries in a UCaaS environment by accessing softphones from anywhere using their handheld devices.

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

  • In terms of components, the Unified Messaging category is likely to dominate the market as workplace communications software and the many benefits that come with it have improved. File sharing, instant messaging, and a variety of communication channels including smartphones, voicemail, and email are all elements of unified messaging.

  • The biggest UCaaS market share is expected to come North America. The increase in the use of telepresence systems, BYOD and the use of sophisticated business solutions in the region can be attributed to the expansion of the market. Regional businesses all use state-of-the-art unified communication solutions, including business conferencing, telephone and unified messaging.

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

Some of the key market players are

  • Cisco Systems, Inc.

  • Sangoma Technologies Corporation

  • Google LLC.

  • Zoom Video Communications, Inc.

  • 8×8, Inc.

  • Dialpad, Inc.

Global Unified Communication as a Service [UCaaS] market segmentation

component

company size

end user

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