Unified Communication as a Service Market worth 24.88 Billion USD by 2020

According to a new market research report “Unified Communication as a Service (UCaaS) Market by Components (Telephony, Unified Messaging, Conferencing, Collaboration Platforms & Applications), Organization Size (Small Businesses, Medium Businesses, Enterprise and Large Enterprises) and Geography - Global Forecast to 2020”, ",published by MarketsandMarkets, provides a comprehensive market and forecast analysis of the overall market, segmented by components, organization size, industry/verticals, and regions.

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In recent years, UCaaS has changed the ways in which business communication is done. UC services have made it easy to address communication related challenges in businesses. Today, the communication service provider companies are focusing to provide their customers with highly efficient communication tool to simplify the communication processes. It has been observed that SMB’s are facing critical challenges, such as how to improve customer satisfaction while lowering operational expenditures and improving the productivity of employees. To reduce the burden of SMB’s, various companies such as Cisco, IBM, MSFT, Avaya, and HP are coming out with various low cost solutions, which improve the work environment in and out of office by serving customer better, connecting the stakeholders, enabling access from remote locations, and providing a collaborative platform for secure business.

UCaaS solutions integrate voice, messaging, video, and desktop applications. It helps in unifying workplace through better solutions for connectivity across mobile and fixed devices. It helps in integrating various communication tools at one platform, such as LinkedIn, YouTube, Skype, Lync, email and other, which allows the user to select the best possible medium which suits the business needs. The most attractive features which influence the adoption of UCaaS by SMB’s are robust phone features, full network security, secure Wi-Fi access from anywhere, reliable network infrastructure, and tight integration with desktop applications at very low cost, which allows the SMBs to reduce their operational cost and improve productivity.

The report covers all the major subsegments of the UCaaS market and provides the quantitative (market size and market growth) and qualitative (trends, analysis, and insights) information for those segments. This comprehensive coverage of the UCaaS market provides important inputs, such as drivers, restraints, and opportunities in this market, profiles the major players in this market, maps the competitive landscape, and provides the overall perspective on the UCaaS market in the various verticals and regions.

MarketsandMarkets has segmented the UCaaS market on the basis of components into telephony, unified messaging, conferencing, collaboration platforms, and applications; on the basis organization size into small businesses (0-99), medium businesses (100-999), enterprises (1000-9999), and large enterprises (1000 +); on the basis of industry/verticals into banking, financial services, and insurance (BFSI), telecom IT (IT), consumer goods & retail, healthcare, public sector & utilities, logistics & transportation, travel & hospitality, and others (including education, media & entertainment, manufacturing); and by region into North America (NA), Asia-Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).

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MarketsandMarkets forecasts the UCaaS market to grow from USD 15.12 Billion in 2015 to USD 24.88 Billion in 2020. This represents a Compound Annual Growth Rate (CAGR) of 10.5% from 2015 to 2020.

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