San Francisco, California, January 17, 2018: Unified Communications as a Service (UCaaS) refers to that kind of a delivery model in which the provider offers a wide variety of communications or telecom software services or applications through an Internet Protocol or IP network. Unified Communications as a Service or UCaaS is a way forward towards services that are cloud-based, says TMR Research. The report bearing the title, “Unified Communication as a Service (UCaaS) Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” delves into the current and future scenario of the market for Unified Communications as a Service (UCaaS). Known for making an offer of various advantages such as scalability of basic tasks of business, availability, and flexibility, UCaaS solutions are gaining popularity. Facilities like telephony, contact center services, video conferencing, online meetings, and presence and messaging technology are being offered by the said technology solutions.
Various enterprises across the globe are increasingly adopting and utilizing the services of collaboration tools that enable their employees, especially the mobile ones to make and maintain communication with each other at all times. Such a constant level of communication is necessary for the business purposes as there has been a rapid increase in the number of mobile workers globally. This factor is providing boost to the international market for UCaaS. Bring your own device or BYOD as it is conveniently called is the emerging trend in the corporate environment. BYOD together with phenomenal proliferation of mobile gadgets are working together in providing substantial boost to the said market.
However, the market is not free from drawbacks. Lack of proper and substantial awareness about UCaaS solutions is restraining the market growth. Large chunks of the people are not aware of the benefits that these solutions offer and are as such limiting its adoption across the globe particularly in small-scale enterprises or SMEs.
Nevertheless, it is forecasted that the prominent players are in all likelihood to cash in on the developing yet untapped economies like Middle East and Africa and Asia Pacific in the future so as to maximize revenue generation.
The main geographic regions that have been evaluated in this market research report are Latin America, North America, Europe, Middle East and Africa, and Asia Pacific. It is forecasted that the region of North America would be a contributor of considerable amount of revenue throughout the forecast timeframe. Growth of this geographical segment is facilitated by the presence of highly developed infrastructure of networks and presence of a very large base of smart and tech-savvy workforce. Apart from these, there are quite a few other growth promoting factors such as logistics and transportation, financial services, retail, consumer goods and banking that are further foreseen to boost market growth for UCaaS technology.
Apart from North America, Asia Pacific is also estimated to make an offering of lucrative market opportunities over the period of forecast. The growth in this geographical segment is owing to the increasing propensity of big enterprises to make use of UCaaS solutions for their business. Moreover, the increasing establishment of offices, contact center services, and manufacturing units in emerging economies such as India and China is augmenting the growth of the region.
West Corporation¸ 8×8 Inc., Microsoft Corporation, Fuze Inc., and Cisco Systems Inc. are some of the topnotch companies that constitute the vendor segment of the said market. These leading market players are now emphasizing on the incorporation of business processes and applications. There has been an increasing trend of making use of social media for the purpose of businesses. A combination of UCaaS solution and social media strengthens marketing and enables effective relationship with customers. Verizon Communications, IBM Corporation, Avaya Inc., and Alcatel-Lucent SA are some of the other eminent global players.