Unified Communication-as-a-Service (UCaaS) Market : Current Analysis and Forecast (2022-2028)

Report Description

The global Unified Communication-as-a-Service (UCaaS) Market is expected to grow at a significant rate of around 11% during the forecast period. Unified Communications refers to the integration of a range of communication technologies within a single platform. UC systems, therefore, typically incorporate business telephony, text messaging, team collaboration features, video conferencing, email, and more. The Unified Communication-as-a-Service (UCaaS) Market is growing on account of increasing smartphone use around the world. For instance, there are more than 600 million smartphone users in India. Furthermore, the growing investments in the research and development of UCaaS technology coupled with the growing trend of remote work due to covid – 19 is expected to drive the UCaaS market. Moreover, the rapid integration of AI-enabled UCaaS for changing the way companies structure their workflows, decision-making processes, and strategy planning. For instance, Avaya Inc. has created an AI voice assistant application for desk phones, and Amazon released Chime a cloud-based UCaaS.

8×8 Inc, Cisco System Inc, Google LLC, Microsoft Corporation, LogMeIn Inc, RingCentral Inc, Mitel Networks Corporation, Fuze Inc, Windstream Holdings Inc, ALE International are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst organization size, small and medium enterprises category to witness higher CAGR during the forecast period”

On the basis of organization size, the market is bifurcated into small and medium enterprises and large enterprises. The small and medium enterprises segment is expected to grow with a significant CAGR during the forecast period, owing to the higher IT spending of these enterprises. Furthermore, the normalization of contract work and remote work offers enterprises the agility to be responsive as well as strategic in order to maintain an edge in the marketplace.

“Amongst industry verticals, the commercial segment is expected to hold a significant share in the market in 2020”

Based on industry vertical, the market is segmented into BFSI, telecom and it, consumer goods and retail, healthcare, public sector and utilities, logistics and transportation, travel and hospitality, and others. The IT and telecom vertical is expected to grow significantly during the forecast period. The growth of this segment is mainly attributed to the increasing demand for real-time communication due to the growing trend of remote working. Furthermore, as services-based companies are becoming more prevalent, IT companies are always expected to be in direct touch with the client for real-time project updates which are expected to drive the segment market.

“North America to hold a significant share in the market”

The North American region is expected to achieve a larger share of the Unified Communication-as-a-Service (UCaaS). The growth in the region is owing to advanced business communication services. Furthermore, the presence of key players in the market such as Microsoft Corporation, Google LLC, Genesys etc. Moreover, organizations across the region are adopting advanced unified communication services such as conferencing, unified messaging, enterprise telephony, and instant messaging. The usage of contact centre capabilities such as auto-attendant, call routing, interactive voice response, and CRM integrations is also rising in North America.

 Reasons to buy this report:

• The study includes market sizing and forecasting Analytics validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers in-depth Analytics of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level Analytics of the industry.

Customization Options:

The global Unified Communication-as-a-Service (UCaaS) Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the Unified Communication-as-a-Service (UCaaS) Market Analytics (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Unified Communication-as-a-Service (UCaaS) Market were the three major steps undertaken to create and analyze the adoption of network devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Unified Communication-as-a-Service (UCaaS) Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analytics of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Unified Communication-as-a-Service (UCaaS) Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Unified Communication-as-a-Service (UCaaS) Market, we conducted detailed secondary Analytics to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as co. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analytics:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor Analytics to estimate the current market size of the unified communication-as-a-service (UCaaS) market. Further, we conducted factor Analytics using dependent and independent variables such as component, organization size, and industry vertical. A thorough Analytics was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Unified Communication-as-a-Service (UCaaS) Market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Unified Communication-as-a-Service (UCaaS) Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Unified Communication-as-a-Service (UCaaS) Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Unified Communication-as-a-Service (UCaaS) Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical Analytics was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Unified Communication-as-a-Service (UCaaS) Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of services, types, and applications in the global Unified Communication-as-a-Service (UCaaS) Market.

The main objective of the Global Unified Communication-as-a-Service (UCaaS) Market Study

The current & future market trends of the global Unified Communication-as-a-Service (UCaaS) Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative Analytics performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Unified Communication-as-a-Service (UCaaS) Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the component, organization size, and industry vertical.
• Define and Analytics of the regulatory framework for the Unified Communication-as-a-Service (UCaaS) analysis
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Unified Communication-as-a-Service (UCaaS) Market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Unified Communication-as-a-Service (UCaaS) Market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level Analytics of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team