Get more information on Unified Communication as a Service Market - Request Sample Report
The Unified Communication as a Service Market size was valued at USD 70.43 billion in 2023 and is expected to grow to USD 377.26 billion by 2032 and grow at a CAGR of 20.5% over the forecast period of 2024-2032.
The growth of the unified communications as a service market is being positively influenced by an increasing number of enterprises adopting cloud services. In addition, the demand for integrated communications as a service market is also on the rise due to developments in mobility and bringing your own devices. Presence technology, business messaging, video conferencing, and telephone are all UCaaS technologies.
The growth of the unified communications as a service market is positively influenced by an increasing uptake of UCaaS in small and medium sized enterprises. In addition, lucrative opportunities for the market player of unified communications as a service are created by factors such as developments in machine learning and artificial intelligence. The growing adoption of UCaaS by different users, such as BFSI, IT and telecommunications, healthcare or others, is a result of the cost effectiveness of this solution.
Key Drivers:
The growth of the market is projected to be driven by an increase in demand for BYOD systems, where employees are encouraged to bring their own devices instead of relying on corporate hardware. A powerful centralised communication technology allowing for convenient and seamless communications across different parts of the organisation is also provided by bringing your device policy in place.
Restraints:
In UCaaS environments, data security and compliance are of particular concern, in particular with respect to the protection of sensitive communications information as well as complying with regulatory requirements. Concerns about data privacy, inscription, access control, and compliance with industry regulations may prevent organisations from moving sensitive or confidential communications to the cloud.
Opportunities:
Businesses are increasingly focused on integration of devices and data with advanced analytical instruments, resulting in a lack of sufficient work environment due to the growth of Internet of Things. Moreover, an expanded product portfolio of mobile unified communication infrastructure vendors, which provide third party mobile convergence and SIP apps to the market, is part of the ongoing technological developments.
Challenges:
Various obstacles are preventing some end users from adopting UCaaS solutions. Technical, psychologic, legislative and market barriers may be defined. Technical barriers include power failure, data movement problems among clouds, call quality issues, network failures and so on.
Reduced IT budgets of UCaaS adoption plans could be delayed or scaled back by companies faced with a reduced budget. In the immediate term, this may lead to a deceleration in market growth. Increase in scrutiny of costs of Businesses may be more reluctant to invest in new technologies, particularly if the return-on-investment ROI is not clear. In order to win customers, UCaaS providers may have to demonstrate a strong cost advantage. Focus on short term needs: core business functions may be prioritised by companies in survival mode. Cost savings and effectiveness: UCaaS provides a way to consolidate communication tools, which is likely to bring down total IT costs. Businesses looking to streamline their operations in the face of a slowdown could be attracted by this. Improved Remote Work Capabilities: UCaaS can help to increase the number of dispersed workers by facilitating effective remote collaboration, as companies seek to cut their operating costs. In regions with high real estate costs, this could be particularly important. Focus on business continuity on Economic downturns may highlight the importance of continuous operation. In uncertain times, UCaaS solutions that guarantee reliable communications and data access may prove to be an appropriate investment. Overall, it is likely that the severity and duration of the economic downturn will determine the impact on the UCaaS market.
Supply chain issues: the production and supply of hardware components needed for UCaaS infrastructure may be affected by sanctions and disruption in Eastern Europe. Cybersecurity threats: Businesses using UCaaS platforms are worried about cyber-attacks targeting them in the wake of heightened geopolitical tensions.
Increased demand for remote work solutions: UCaaS may be used more for remote collaboration and communication by businesses in unstable regions or by workers in Ukraine. Geopolitical Realignment: Companies may shift UCaaS providers away from Russia-based ones, potentially benefiting Western vendors. Economic strain: IT budgets might be reduced and UCaaS adoption slowed down for some businesses, as a result of the worldwide slowdown caused by the war. Fluctuations in currency exchange rates: Companies operating abroad may find it difficult to cope with the impact of currency fluctuations on their UCaaS costs. Overall, there is still much uncertainty as to how the conflict will affect the UCaaS market over the longer term. There are also opportunities for growth in certain sectors, although there could be possible disruptions and uncertainties.
By Deployment
The public cloud segment accounted for 70.2% of the market's revenue in 2023. This growth can be attributed to Internet of Things, edge computing, growing use of real time analytics, increasing consumption of big data and digital transformation in sectors such as BFSI, IT & telecom, manufacturing etc. Digital transformation is making organizations change their business operations and operational procedures.
By Industry Vertical
Automotive
Education
Healthcare
BFSI
Hospitality
Real Estate
Legal
IT & Telecom
Others
In 2023, the healthcare sector accounted for more than 17.2% of the market share. In real time, critical healthcare data can be accessed using technologies such as messaging, videoconferencing, and cloud telephony.
In 2023, North America had a significant revenue share of about 35.4%. The region has a reputation for efficiently integrating the internet and physical channels, leading to an integrated customer experience. Proactive services are designed to bring customers together through a variety of channels, such as e.g. online shopping platforms, digital media, phone applications, physical stores and customer support systems.
This omnichannel approach allows for consistent and uniform interactions that lead to a better customer relationship. The Asia Pacific is expected to experience a growth rate of more than 23.2% over the forecast period, driven by AI driven intelligent virtual assistants. The region's continued digitisation and the growth of its mobile workforce can be attributed to this significant increase, since it is expanding in terms of technology with growing use of 4G and 5G technologies.
Need any customization research on Unified Communication as a Service Market - Enquiry Now
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Alcatel-Lucent SA (Nokia), Avanade, Inc., 8x8, Inc., IBM Corporation, Cisco Systems, Inc., Fuze, Inc., Polycom, Inc., Unify, Inc., West Corporation, Avaya, Inc. & Other Players
8x8 Inc., a leading provider of integrated cloud contact centres and UC platforms has been awarded an important award in August 2023. In the category of Technology Team of the Year at the 20th Annual International Business Awards, this company received a Gold Stevie Award.
Cisco's partnership with AT&T's mobile network to natively integrate Webex Calling took place in June 2023. Through a single business mobile number, this partnership is expected to deliver a mobile first, powerful and unified collaboration experience. The growth of the industry is projected to be driven by this development.
In October 2023, Avaya Inc. worked with Flouris, the largest mortgage provider in the Netherlands, to deploy OneCloud CCaaS and improve customer experience while enabling its contact center staff to work within a blended environment.
| Report Attributes | Details |
| Market Size in 2023 | US$ 70.43 Bn |
| Market Size by 2032 | US$ 377.26 Bn |
| CAGR | CAGR of 20.5% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Deployment (Public Cloud and Private Cloud) • By Component (Telephony, Unified Messaging, Conferencing, Collaboration Platforms & Applications) • By Industry Vertical (Automotive, Education, Healthcare, BFSI, Hospitality, Real Estate, Legal, IT & Telecom, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Alcatel-Lucent SA (Nokia), Avanade, Inc., 8x8, Inc., IBM Corporation, Cisco Systems, Inc., Fuze, Inc., Polycom, Inc., Unify, Inc., West Corporation, Avaya, Inc. |
| Key Drivers | • The numerous advantages that UCaaS systems provide drive greater usage • Mobile device adoption is increasing |
| Market Challenges | • Issue pertaining to the security of the cloud-based deployment • There are no distant backups and there aren't enough power sources |
Ans: - The Unified Communication as a Service market size was valued at USD 70.43 Bn in 2023.
Ans: - Enterprise mobility and a mobile workforce are becoming increasingly popular and Mobile device adoption is increasing.
Ans: - North America is likely to lead the market with the biggest share throughout the forecast period.
Ans. The primary growth tactics of Unified Communication as a Service market participants include merger and acquisition, business expansion, and product launches.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Unified Communication as a Service Market Segmentation, By Deployment
9.1 Introduction
9.2 Trend Analysis
9.3 Public Cloud
9.4 Private Cloud
10. Unified Communication as a Service Market Segmentation, By Industry Vertical
10.1 Introduction
10.2 Trend Analysis
10.3 Automotive
10.4 Education
10.5 Healthcare
10.6 BFSI
10.7 Hospitality
10.8 Real Estate
10.9 Legal
10.10 IT & Telecom
10.11 Others
11. Regional Analysis
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Poland
11.3.1.2 Romania
11.3.1.3 Hungary
11.3.1.4 Turkey
11.3.1.5 Rest of Eastern Europe
11.3.2 Western Europe
11.3.2.1 Germany
11.3.2.2 France
11.3.2.3 UK
11.3.2.4 Italy
11.3.2.5 Spain
11.3.2.6 Netherlands
11.3.2.7 Switzerland
11.3.2.8 Austria
11.3.2.9 Rest of Western Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Vietnam
11.4.6 Singapore
11.4.7 Australia
11.4.8 Rest of Asia Pacific
11.5 The Middle East & Africa
11.5.1 Middle East
11.5.1.1 UAE
11.5.1.2 Egypt
11.5.1.3 Saudi Arabia
11.5.1.4 Qatar
11.5.1.5 Rest of the Middle East
11.5.2 Africa
11.5.2.1 Nigeria
11.5.2.2 South Africa
11.5.2.3 Rest of Africa
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Colombia
11.6.4 Rest of Latin America
12. Company Profiles
12.1 Alcatel-Lucent SA (Nokia)
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Avanade, Inc.
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 8x8, Inc.
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 IBM Corporation
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Cisco Systems, Inc.
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Fuze, Inc.
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Polycom, Inc.
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Unify, Inc.
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 West Corporation
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Avaya, Inc.
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
Digital Logistics Market size was USD 29.65 billion in 2023 and is expected to reach USD 160.1 billion by 2032 and grow at a CAGR of 20.6% over the forecast period of 2024-2032.
Accounts Receivable Automation Market was valued at USD 3.5 billion in 2023 and is expected to reach USD 10.5 billion by 2032 and grow at a CAGR of 13.1% from 2024- 2032.
The Sensitive Data Discovery market, valued at USD 5.93 Billion in 2023, is projected to reach USD 23.20 Billion by 2032, growing at a compound annual growth rate CAGR of 17.33% during the forecast period.
The Online Recruitment Market size was valued at USD 11.38 billion in 2023 and is expected to grow to USD 41.14 billion by 2032 and grow at a CAGR of 15.35% over the forecast period of 2024-2032.
The eGRC Market Size was valued at USD 18.1 Billion in 2023 and is expected to reach USD 55.4 Billion by 2032 and grow at a CAGR of 13.22% from 2024-2032.
Container Security Market Size was valued at USD 1.92 Billion in 2023 and is expected to reach USD 13.10 Billion by 2032, growing at a CAGR of 23.81% over the forecast period 2024-2032.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
