MarketsandMarkets recently conducted a study on “Unified Communications as-a-service (UCaaS) Market: Advancements, Emerging Applications, Business Models, Technology Roadmaps, Global Forecasts & Analysis (2013 – 2018)”, which analyzed and studied the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
The study reports that the global Unified Communications As-a-Service (UCaaS) market is expected to grow from $2.52 billion in 2013 to $7.62 billion by 2018, at an estimated CAGR of 24.8% from 2013 to 2018. Telephony is the most used technology for now and will remain so in coming few years as well. The global UCaaS Telephony market is expected to grow from $0.87 billion in 2013 to $2.48 billion by 2018, at an estimated CAGR of 23.3% from 2013 to 2018.
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The global UCaaS market growth is driven by the emergence of video technology and collaboration solutions; although telephony will be the most used technology for the years to come. The UCaaS collaboration application market revenue is expected to grow from $540.74 million in 2013 to $1.75 billion by 2018, at an estimated CAGR of 26.5% from 2013 to 2018. Companies across all sectors are using UCaaS, cloud based unified communication which integrates web conferencing, video conferencing, messaging, VoIP and presence over cloud that helps to decrease front load capital cost as they are offered on a per seat basis, enabling businesses to scale communications easily and effectively, thereby reducing travel time and leaner business processes.
Enterprises want to deploy UCaaS on their existing infrastructure. This results in hybrid UCaaS, which allows many cloud providers to integrate their services with UCaaS service providers. Companies are shifting from on premise to cloud based UC, which is largely driving adoption. With enterprise mobility on the rise, the opportunity for UCaaS can prove lucrative market for the vendor ecosystem.
The report also provides the competitive landscape of the the Unified Communications as-a-service (UCaaS) Market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. Some of the major players in this market are Avaya, Cisco, Microsoft, Alcatel-Lucent, Panterra networks, Interactive intelligence, Siemens enterprise communications, Mitel, CSC, and NEC.
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