The global united communications as a service market size is expected to grow from $30.25 billion in 2021 to $35.29 billion in 2022 at a compound annual growth rate (CAGR) of 16.67%. The change in the UCaaS market growth trend is mainly due to companies' stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market size is expected to reach $65.22 billion in 2026 at a CAGR of 16.61%.
What is the Global Unified Communication as a Service (UCaaS) Market?
The unified communication as a service market consists of sales of unified communication as a service by entities (organizations, sole traders, and partnerships), which are cloud-based service delivery models that offer all the necessary infrastructure, applications, and resources. It enables businesses to centralize their entire communication architecture and provide access to a variety of turnkey applications and services without the need to invest in bulky IT hardware or specialized support teams.
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What drives the Global Unified Communication as a Service (UCaaS) Market?
The rising demand for BYOD and mobility is expected to propel the growth of the unified communication as a service market. BYOD (bring your own device) means being allowed to use one's personally owned device, rather than being required to use an officially provided device by an organization, offering greater productivity gains. Certain studies have shown that BYOD can increase productivity, employee satisfaction, and cost savings for the company. According to TechJury, a business software solutions company, as of October 2021, 67% of employees use their own personal devices at the workplace and 59% of organisations have adopted BYOD. Therefore, the increase in demand for BYOD and mobility is driving the growth of unified communications as a service market.
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Global Unified Communication as a Service (UCaaS) Market Segments
The global UCaaS market is segmented:
By Component: Telephony, Unified Messaging, Collaboration Platforms, Conferencing, Others
By Solution: Software, Services
By Vertical: Banking, Financial Services and Insurance, IT and Telecommunications, IT-Enabled Services, Education, Retail and Consumer Goods, Government and Defense, Healthcare, Others
By Organization Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
By Geography: The regions covered in the UCaaS market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Unified Communication as a Service (UCaaS) Global Market Report 2022provides market size and growth forecasts for the global UCaaS market, global UCaaS market share, UCaaS market segments and geographies, UCaaS market competitive landscape including leading competitors’ revenues, profiles and market shares. The UCaaS market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Unified Communication as a Service (UCaaS) Industry Playersinclude John Deere, CNH, AGCO, CLAAS, Kubota. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
