Global unified communication as a service market size was US$ 15.8 Bn in 2019 and is expected to reach US$ 32.66 Bn by 2027, at a CAGR of 9.5% during forecast period. In North America UCaaS market was valued at ~US$ 6 Bn in 2018.
Market Definition Unified communications as a service (UCaaS) is a sub segment of software as a service, where providers deliver software products and processes through the internet. UCaaS provides a wide range of communication and collaboration software applications and services in the cloud. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Market Dynamics The global unified communication as a service market research report provides in-depth analysis of growth factors, restrain factors, challenges and future opportunities of the market. Growing adoption of cloud based services is the major driver factor behind the growth of market. UCaaS offers some benefits such as better collaboration, scalability, self-service, global accessibility and business continuity, which leads to the growth of market. Furthermore, increasing trends of mobility and BYOD (Bring your own device) are driving the growth of market. Also opportunities of emerging potential or less explored markets could improve the growth of market. Reduction in deployment cost and enhanced service support are the key attributes behind the growth of market. Nevertheless, there are some downsides of UCaaS such as security concerns over cloud bases services that could hamper the growth of market. Also lack of technical skilled personnel and lack of awareness about UCaaS are the major restrain factors that could hinder the growth of market. Global Unified Communication as a Service Market: Segmentation Analysis By services, telephony and conferencing segments are dominated the market in 2019 and is expected to keep its dominance at CAGR of XX% during the forecast period. This is owing to telephony services provides electronic transmission of voice, fax, or data, between distant parties. Vendors across the world are delivering telephony and conferencing as a major product owing to the rising demand of better collaboration and communication among small and medium enterprises (SMEs). Additionally, collaboration platform and application segment is also expected to grow at high CAGR over the forecast period owing to its benefits such as security and less dependency on multiple vendors for UCaaS deployment. By organization size, large enterprises segment is dominated the market and is expected to grow at CAGR of XX% during forecast period. This is owing to an increasing adoption of mobility and BYOD trends by large enterprises. Also increasing number of small and medium enterprises across the globe is driving the growth of the market. Global Unified Communication as a Service Market: Regional Analysis Region wise, North America is dominated the UCaaS market in 2019 and is expected to maintain its dominance at CAGR of XX% during forecast period. The US and Canada are the key contributors behind the growth of market owing to the growing adoption of advanced technology by enterprises across the region. In May 2019, Microsoft Corporation announced a joint venture with Canada based ShareWeb, a leading provider of cloud-based services. Together, the companies introduced the ShareWeb UCaaS Connector. Also the presence of large numbers of UCaaS vendors across the region is another driving factor behind the growth of market. In addition, presence of large cloud providers such as IBM is also improving the growth of market in the region. The objective of the report is to present a comprehensive analysis of the Global Unified Communication as a Service Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Unified Communication as a Service Market dynamics, structure by analyzing the market segments and projects the Global Unified Communication as a Service Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Unified Communication as a Service Market make the report investor’s guide.