Unified Communication as a Service Market by End-user, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR70636
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The unified communication as a service market has the potential to grow by USD 66.23 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 25.36%.

This unified communication as a service market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (BFSI, ICT, healthcare, retail, and others), application (enterprise collaboration, enterprise telephony, and contact center), and geography (North America, APAC, Europe, South America, and MEA). The unified communication as a service market report also offers information on several market vendors, including 8x8 Inc., ALE International, AT and T Inc., Fuze Inc., Microsoft Corp., Mitel Networks Corp., NEC Corp., NetScout Systems Inc., Oracle Corp., and Verizon Communications Inc. among others.

What will the Unified Communication as a Service Market Size be in 2021?

Unified-Communication-As-A-Service-Market-Market-Size-2020-2025

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Unified Communication as a Service Market: Key Drivers and Trends

The shift from CAPEX to OPEX is notably driving the unified communication as a service market growth, although factors such as system integration and interoperability issues may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the unified communication as a service market industry get your FREE report sample now.

  • Shift from CAPEX to OPEX is a key driver boosting the growth of the unified communication as a service market.
  • The adoption of cloud-based services among global businesses has increased significantly. Cloud-based UC will continue to have a high implementation rate due to the rising popularity of enterprise mobility and BYOD model. 
  • Most businesses are adopting cloud technology because of its inherent benefits. Enterprises are replacing on-premises communications and collaboration system with SaaS-based UC software to implement agile enterprise communications systems. This eliminates the need for enterprises to spend on in-house maintenance of hardware and software for UC systems.
  • The as-a-service model contributes to the flexibility of enterprises, allowing them to add or reduce the number of users. It minimizes the risk of technology obsolescence that is associated with on-premises solutions.
  • The as-a-service model also improves internal collaboration with mobile workers and external collaboration with suppliers, clients, and partners.
  • Increased use of UCaaS by SMBs is another important driver boosting the growth of the unified communication as a service market.
  • The intense competition has made SMBs realize that investing in IT has a direct and positive impact on their businesses.
  • IT providers are required to reach out to geographically spread SMBs and educate them on business offerings and their subsequent business impact. The number of SMBs is increasing exponentially in developing nations due to the implementation of government policies and programs that encourage entrepreneurship.
  • SMBs leverage a range of enterprise and consumer technologies to support internal and external communication with employees and customers. They aim to build a collaborative work structure among employees, clients, and suppliers. 
  • The growing market competition for innovative products and services has created a need for an IT framework that would expedite the time to market process. SMBs are subscribing to multitenancy architecture for UCaaS to reduce IT maintenance costs and achieve economy of scale.

This unified communication as a service market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Unified Communication as a Service Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 8x8 Inc.
  • ALE International
  • AT and T Inc.
  • Fuze Inc.
  • Microsoft Corp.
  • Mitel Networks Corp.
  • NEC Corp.
  • NetScout Systems Inc.
  • Oracle Corp.
  • Verizon Communications Inc.

 

The unified communication as a service market is fragmented and the vendors are deploying growth strategies such as by focusing on developing specific and customized cloud-based UC solutions to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the unified communication as a service market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Unified Communication as a Service Market?

Unified-Communication-As-A-Service-Market-Market-Share-by-Region-2020-2025

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44% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for unified communication as a service market in North America. Market growth in this region will be slower than the growth of the market in other regions.

The presence of large enterprises and the availability of high-speed broadband networking will facilitate the unified communication as a service market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating End-user Segments in the Unified Communication as a Service Market?

Unified-Communication-As-A-Service-Market-Market-Share-by-End-2020-2025

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Organizations in the BFSI industry are adopting UCaaS to minimize the total cost of ownership (TCO) of IT expenditures. Regulations and compliance norms are continuously evolving in this sector. This has compelled many organizations to implement flexible IT solutions that adhere to the latest regulatory standards. UCaaS enables organizations to use telephony services on a common platform as per business requirements. Services such as instant messaging, teleconferencing, and video call services are immensely used in the BFSI sector. The addition of features, such as real-time speech recognition technologies and advanced IT security, enables product differentiation among UCaaS providers for organizations in this sector. During the forecast period, the financial sector is expected to focus on the improvement of customer services; superior workflow automation of core and allied activities, such as deposits, lending, and leasing; and regulatory compliance. This will likely lead to an increase in the deployment of UCaaS solutions in organizations.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the unified communication as a service market size.

 

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What are the Key Factors Covered in this Unified Communication as a Service Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive unified communication as a service market growth during the next five years
  • Precise estimation of the unified communication as a service market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the unified communication as a service industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of unified communication as a service market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The unified communication as a service market growth will increase by $66238.01 million during 2020-2025.
The unified communication as a service market is expected to grow at a CAGR of 25.36% during 2020-2025.
Technavio has segmented the unified communication as a service market by end user (BFSI, ICT, Healthcare, Retail, and Others) ,application (Enterprise collaboration, Enterprise telephony, and Contact center) , and geographic (North America, APAC, Europe, South America, and MEA).
8x8 Inc., ALE International, AT and T Inc., Fuze Inc., Microsoft Corp., Mitel Networks Corp., NEC Corp., NetScout Systems Inc., Oracle Corp., Verizon Communications Inc. are a few of the key vendors in the unified communication as a service market.
North America will register the highest growth rate of 44.14% among the other regions. Therefore, the unified communication as a service market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the unified communication as a service market growth are:
  • Shift from CAPEX to OPEX
The unified communication as a service market vendors should focus on grabbing business opportunities from the bfsi segment as it accounted for the largest market share in the base year.
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