Global UCaaS Industry to Derive Demand from Increasing Penetration of Global Mobile Devices Market

2024-10-30 04:21:53 News & Society

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The unified communication as a service market, commonly known as UCaaS, is a thriving market drawing a lot of attention from developers as well as enterprises operating in the IT industry. UCaaS is a constantly updated, highly standardized, pre-integrated, and ready-to-go service that improves the productivity of the client and stimulates business and decision-making procedures while decreasing costs. This service is estimated to be one of the major factors to drive the unified communications industry. Additionally, hosted access is making unified communications accessible for a broad array of enterprises.

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The demand for UCaaS solutions is growing globally due to the increasing penetration of mobile devices across the globe. The rising demand for enterprise mobility and mobile workforces, added to the multiple advantages of UCaaS solutions, is also promoting the adoption of these solutions worldwide.

In contrast, SMEs/SMBs are less interested in adopting UCaaS owing to the lack of awareness about it. However, the rising utilization of collaborative applications such as IM, voicemail, and unified messaging is projected to bolster the demand for UCaaS solutions in the coming years. This market is likely to expand at a CAGR of 23.4% between 2014 and 2022 to reach US$37.85 billion by the end of 2022.

Development in Hosted UCaaS Model and Telephony Services to Support Growth of Global UCaaS Market

In 2013, the on-premise UCaaS solutions industry dominated the deployment-based UCaaS market. It is predicted to hold leadership by 2022. However, the shift from on-premise to hosted unified communication models is expected to be the driving trend behind the growth of the unified communication industry in the future. Apart from this, the rising total cost of ownership is expected to hinder the growth of the on-premise UCaaS solutions market.

Telephony services market led the services in the UCaaS market, with a 35.33% share in the total revenue generated in 2013. In the coming years, this market segment is likely to retain its dominance thanks to considerable adoption of hosted telephony as a part of enterprise UCaaS solutions. The segmentation of the UCaaS market based on the delivery mode was dominated by standalone services in 2013. Analysts expect that this market segment will continue to dominate the global market, holding almost half of the overall market share by 2022. Large enterprises, small and medium enterprises (SMEs), the public sector, and others are the key segments of the global UCaaS market based on end users.

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North America to Head Global UCaaS Industry

The UCaaS industry in North America dominated the global market in 2013, accounting for 48.80% of the overall revenue generated by the global industry. This regional market is estimated to dominate the global market in the coming years owing to the high investments in various end-use industries such as transportation and logistics, consumer goods, BFSI, telecom, and retail, thereby aiding the introduction of UCaaS services in these industries.

On the other hand, the UCaaS market in Asia Pacific is likely to register the fastest growth rate in the coming years, thanks to the rising interest of large enterprises in UCaaS solutions. However, the concerns pertaining to network security and price sensitivity are the major hindrances to the growth of the UCaaS market in this region. Additionally, many emerging economies in this region are facing difficulties in providing a sustainable and viable business model coupled with various telecommunication regulatory barriers.

The global UCaaS industry is fragmented in nature. The leading players in this market are Avaya Inc., Alcatel-Lucent SA, Hewlett-Packard Development Company, L.P., Microsoft Corporation, Unify, Inc., West Corporation, Visionoss Limited, Computer Sciences Corporation (CSC), Verizon Communications, Inc., and NTT Communications Corporation.

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