Report Id: SNS/ICT/1585 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Unified Communication as a Service market size was valued at USD18.88 Bn in 2021 and is expected to reach USD34.29 Bn by 2028, and grow at a CAGR of 8.9% over the forecast period 2022-2028.
In healthcare, unified communications-as-a-service is a delivery model in which a range of collaboration and communication services and apps are outsourced to a third-party provider and supplied over a network. Presence technology, business messaging, video conferencing, and telephone are all UCaaS technologies. In addition, the growing use of artificial intelligence has considerably benefited enterprises in their efforts to achieve digital transformation. AI-powered solutions have enabled businesses to intuitively record conversations, make transcriptions simple, and intelligently follow speakers in order to better understand consumers' wants and provide appropriate services. Many businesses utilize UCaaS because it streamlines communication and improves business operations, resulting in increased income. Organizations are increasingly turning to cloud-based unified communication since it can be utilized by a wide variety of users.
Zoom Video Communications signed a binding deal to buy Solvvy in May of 2022. Zoom announces a strategic purchase to bring sophisticated conversational AI and automation capabilities, taking the next stage in its evolution from being the pandemic's breakout collaboration services leader. Solvvy is the foremost conversational artificial intelligence (AI) platform for customer service, empowering executives and their teams by providing quick and personalized responses for customers, enhancing agent efficiency, and unearthing business insights.
Enterprise mobility and a mobile workforce are becoming increasingly popular.
The numerous advantages that UCaaS systems provide drive greater usage.
Mobile device adoption is increasing.
Issue pertaining to the security of the cloud-based deployment
There are no distant backups and there aren't enough power sources.
SMEs have a low percentage of adoption of UCaaS solutions.
IMPACT OF COVID-19:
The COVID-19 epidemic has damaged every industry, and as a result of societal distancing rules, businesses are turning to digitalization to protect the safety of their workers. Organizations have been forced to contemplate the future of work and what it may look like for employees as a result of restrictions put in place to stop the virus from spreading. Many organizations that did not have work-from-home policies scrambled to implement such in the aftermath of COVID-19, which many experts predict will continue into the post-COVID-19 period. Because of the present remote working demands, the usage of an integrated UCaaS platform has surged in the epidemic. As a result, the demand for UCaaS is expected to rise. Video conferencing, web conferencing, collaborative meetings, mobile telephony, and VoIP phone systems have become some of the most sought-after technologies since many workers began working from home as a result of COVID-19.
In 2021, the public cloud category had the highest revenue share. The usage of public cloud technology speeds up the testing and deployment of new products. Scalable, subscription-based UC solutions may be deployed via public cloud-based deployment strategies. As a consequence, businesses of all sizes may easily transition from traditional communication methods and platforms to more modern and efficient public cloud UCaaS solutions. Companies are increasingly opting for public cloud-based systems because they want a flexible environment that might possibly help them deploy changes more effectively. Over the forecast period, the private cloud deployment model is likely to provide considerable growth potential for the market. Private clouds provide for more customization and allow businesses to subscribe to services based on their individual requirements.
With revenue in 2021, the IT and telecom category led the market. The need for UCaaS solutions is being driven by the strong desire of various IT and telecom enterprises to roll out more effective communication among their internationally spread employees. Employees in the IT and telecom industries frequently engage with high-profile clients, such as government departments and federal agencies, requiring safe and efficient information sharing. The increased requirement for data security and privacy protection is prompting IT and telecom firms to use UCaaS solutions. In 2020, the healthcare business will earn a substantial revenue share as patients continue to be interested in establishing effective contact with healthcare authorities and caregivers in order to receive better treatment. As a result, doctors and healthcare providers are increasingly interested in real-time access to crucial patient data from a variety of sources in order to improve the patient experience and operational efficiency. Healthcare systems are increasingly using UCaaS solutions.
KEY MARKET SEGMENTS:
On The Basis of Deployment
On The Basis of Component
Collaboration Platforms & Applications
On The Basis of Industry Vertical
IT & Telecom
North America, Europe, Asia-Pacific, the Middle East and Africa, and South America have been classified as regions for the worldwide unified communication as a service market.
Because of the rising acceptance of BYOD trends in the area, North America is likely to lead the market with the biggest share throughout the forecast period. Due to the region's rapid digitalization and acceptance of new technologies, Asia-Pacific is predicted to grow at the fastest CAGR throughout the projection period.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Alcatel-Lucent SA (Nokia), Avanade, Inc., 8x8, Inc., IBM Corporation, Cisco Systems, Inc., Fuze, Inc., Polycom, Inc., Unify, Inc., West Corporation, Avaya, Inc.
|Market Size in 2021||US$ 18.88 Bn|
|Market Size by 2028||US$ 34.29 Bn|
|CAGR||CAGR of 8.9% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Deployment (Public Cloud and Private Cloud)
• by Component (Telephony, Unified Messaging, Conferencing, Collaboration Platforms & Applications)
• by Industry Vertical (Automotive, Education, Healthcare, BFSI, Hospitality, Real Estate, Legal, IT & Telecom, Other)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Alcatel-Lucent SA (Nokia), Avanade, Inc., 8x8, Inc., IBM Corporation, Cisco Systems, Inc., Fuze, Inc., Polycom, Inc., Unify, Inc., West Corporation, Avaya, Inc.|
|Key Drivers||• The numerous advantages that UCaaS systems provide drive greater usage
• Mobile device adoption is increasing
|Market Challneges||• Issue pertaining to the security of the cloud-based deployment
• There are no distant backups and there aren't enough power sources
Frequently Asked Questions (FAQ) :
Ans: - The Unified Communication as a Service market size was valued at USD18.88 Bn in 2021.
Ans: - Enterprise mobility and a mobile workforce are becoming increasingly popular and Mobile device adoption is increasing.
Ans: - North America is likely to lead the market with the biggest share throughout the forecast period.
Ans. The primary growth tactics of Unified Communication as a Service market participants include merger and acquisition, business expansion, and product launches.
Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Ukraine- Russia crisis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Unified Communication as a Service Market Segmentation, by Deployment
8.1 Public Cloud
8.2 Private Cloud
9. Unified Communication as a Service Market Segmentation, by Component
9.2 Unified Messaging
9.4 Collaboration Platforms & Applications
10. Unified Communication as a Service Market Segmentation, by Industry Vertical
10.6 Real Estate
10.8 IT & Telecom
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Alcatel-Lucent SA (Nokia)
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 8x8, Inc.
12.3 Avanade, Inc.
12.4 IBM Corporation
12.5 Cisco Systems, Inc.
12.6 Fuze, Inc.
12.7 Polycom, Inc.
12.8 Unify, Inc.
12.9 West Corporation
12.10 Avaya, Inc.
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
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