Unified Communications as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Unified Communications as a Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global unified communications as a service market size reached US$ 53.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 170.9 Billion by 2028, exhibiting a growth rate (CAGR) of 21.3% during 2023-2028. The rising adoption of cloud-based solutions, increasing demand for effective communication solutions in various industries, and the growing preference for digitizing business processes represent some of the key factors driving the market.

Unified communications as a service (UCaaS) refers to a cloud-delivered unified communications model that offers a wide variety of communication and collaboration applications and services. It provides e-mail, instant messaging, video conferencing, call routing, and voice communication tools via single-tenant and multi-tenant services. It delivers flexibility and scalability for various core business operations and offers contact-center capabilities, such as an auto attendant, interactive voice response, call routing, and customer relationship management integrations. It also increases operational efficiency and aids in minimizing the capital investments to acquire hardware equipment and outsource resources. It allows business owners to operate and run their organization from anywhere and anytime with internet connectivity. It also helps enhance employee productivity and streamline various information technology (IT) services and processes. It assists numerous small and medium-sized enterprises (SMEs) in improving their customer care services to uplift their sales and boost the growth of their businesses. Furthermore, as UCaaS improves the efficiency of various business operations, it is employed in the banking, financial services and insurance (BFSI), information and technology (IT), telecommunication, travel and hospitality, and transportation and logistics sectors across the globe.

Unified Communications as a Service Market Trends:

At present, the increasing demand for effective communication solutions in various industries to manage relationships with their staff, customers, and stakeholders represents one of the primary factors influencing the market positively. Besides this, the rising adoption of cloud-based solutions to manage infrastructures, minimize costs, and delegate various labor-intensive tasks is propelling the growth of the market. In addition, the growing preference for digitizing business processes to simplify workflow and operations, interpret data, and gain valuable insights is offering a favorable market outlook. Apart from this, there is an increase in the adoption of work-from-home (WFH) models among employees to maintain work-life balance and improve productivity around the world. This, along with the rising trend of bringing your own devices (BYOD) into the office for enhanced enterprise mobility, is contributing to the growth of the market. Additionally, the increasing integration of artificial intelligence (AI) and the internet of things (IoT) in UCaaS for offering various benefits, such as automated transcripts and smart tracking of speakers and intuitive call recordings, is supporting the market growth. Moreover, the rising improvements in the IT infrastructure of businesses, along with the escalating demand for public cloud services, are bolstering the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global unified communications as a service market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on solution type, organization size, deployment mode and vertical.

Solution Type Insights:

Telephony
Unified Messaging
Conferencing
Collaboration Platforms
Others
 

The report has provided a detailed breakup and analysis of the unified communications as a service market based on the solution type. This includes telephony, unified messaging, conferencing, collaboration platforms, and others. According to the report, telephony represented the largest segment.

Organization Size Insights:

Small and Medium Enterprises
Large Enterprises
 

A detailed breakup and analysis of the unified communications as a service market based on the organization size has also been provided in the report. This includes small and medium enterprises and large enterprises. According to the report, large enterprises accounted for the largest market share.

Deployment Mode Insights:

Public Cloud
Private Cloud
Hybrid Cloud
 

A detailed breakup and analysis of the unified communications as a service market based on the deployment mode has also been provided in the report. This includes public cloud, private cloud, and hybrid cloud. According to the report, public cloud accounted for the largest market share.

Vertical Insights:

BFSI
IT and Telecom
Healthcare
Transportation and Logistics
Travel and Hospitality
Media and Entertainment 
Others
 

A detailed breakup and analysis of the unified communications as a service market based on the vertical has also been provided in the report. This includes BFSI, IT and telecom, healthcare, transportation and logistics, travel and hospitality, media and entertainment, and others. According to the report, IT and telecom accounted for the largest market share.

Regional Insights:

North America

United States
Canada


Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others


Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others


Latin America

Brazil
Mexico
Others


Middle East and Africa
 

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for unified communications as a service. Some of the factors driving the North America unified communications as a service market included the growing adoption of cloud technologies, increasing business automation, rising remote workforce, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global unified communications as a service market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 8x8 Inc., Ale USA Inc., AT&T Inc. (China Huaxin Post and Telecom Technologies Co. Ltd.), BT Group Plc, Cisco Systems Inc., Fuze Inc., Microsoft Corporation, NTT Communications (The Nippon Telegraph and Telephone Corporation), Ringcentral Inc., Verizon Communications Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global unified communications as a service market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global unified communications as a service market?
What is the impact of each driver, restraint, and opportunity on the global unified communications as a service market?
What are the key regional markets?
Which countries represent the most attractive unified communications as a service market?
What is the breakup of the market based on the solution type?
Which is the most attractive solution type in the unified communications as a service market?
What is the breakup of the market based on the organization size?
Which is the most attractive organization size in the unified communications as a service market?
What is the breakup of the market based on the deployment mode?
Which is the most attractive deployment mode in the unified communications as a service market?
What is the breakup of the market based on the vertical?
Which is the most attractive vertical in the unified communications as a service market?
What is the competitive structure of the global unified communications as a service market?
Who are the key players/companies in the global unified communications as a service market?