The global Unified Communication As A Service market size is expected to be worth around US$ 310.07 billion by 2030, according to a new report by Vision Research Reports.
The global Unified Communication As A Service market size was valued at US$ 38.74 billion in 2020 and is anticipated to grow at a CAGR of 23.10% during forecast period 2021 to 2030.
The growing preference for combining unified communication and IoT is expected to open new growth opportunities for the market. The ability of cloud-based unified communication solutions, along with IoT devices and solutions, to enable real-time connectivity and contribute to process automation is particularly expected to encourage enterprises to shift from conventional communication to UCaaS solutions. UCaaS (Unified Communication as a Service) can also help in convenient employee collaboration as employers can flexibly hire resources from a more comprehensive geographical range and onboard them through personalized self-guided walkthroughs and training material.
UCaaS solutions can allow enterprises to leverage cloud platforms to roll out effective communication without investing in dedicated IT infrastructure. Hence, SMEs are particularly adopting UCaaS solutions to facilitate unified communication at affordable prices. As such, these solutions can typically contribute to organizations’ digital transformation goals while saving costs. SMEs are also adopting these solutions as part of the rollout of a hybrid working model in the wake of the outbreak of the COVID-19 pandemic. Benefits such as affordable prices and operational flexibility are expected to drive the market over the forecast period.
The growing popularity and continuous emergence of various social media platforms bode well for the market growth. Having realized that individuals tend to spend more of their free time on social media, enterprises are looking forward to rolling out new channels to reach out to their customers and better understand their needs and requirements to offer efficient customer service. Integrating social media bots with UCaaS solutions can allow enterprises to receive responses and address customer queries. Combining UCaaS with real-time social media features can typically facilitate efficient collaboration and engagement in remote locations.
The aggressive adoption of cloud computing and unified communication is poised to trigger a paradigm shift in the legal industry. For large legal firms, ensuring efficient communication is of paramount importance even if their offices are located at different geographical locations. Moreover, as large legal firms are increasingly outsourcing some part of their work to Alternate Legal Service Providers (ALSPs), efficient communication would be required between the two parties to ensure adequate data security and privacy protection. For smaller legal firms, handling communication across various channels through a single platform can dedicate more resources to critical client services and engagement. Continued adoption of UCaaS solutions by legal firms is expected to drive the market over the forecast period.
The public cloud segment accounted for the largest revenue share of over 73.0% in 2020. Public cloud technology helps in reducing lead times in testing and deploying new products. Public cloud-based deployment models offer the opportunity to deploy scalable, subscription-based UC platforms. As a result, organizations of all sizes can conveniently shift from legacy communication practices and platforms to more advanced and efficient public cloud UCaaS solutions. The growing preference among companies for a flexible environment that can potentially aid in deploying changes more efficiently is also prompting organizations to opt for public cloud-based platforms.
The private cloud deployment model is expected to offer significant growth opportunities for the market over the forecast period. Private clouds offer a greater degree of customization and enable companies to subscribe to services according to their needs and specifications. Deploying private cloud-based UCaaS solutions also benefits enterprises in the form of 24/7 support services, contracted capabilities, and service-level agreements, and guarantees more secure and personalized experiences. Several companies such as Kandy Communications, LLC offer UCaaS services to their clients and enable them to transform legacy communication applications into a private cloud deployment model.
The IT and telecom segment dominated the market with a revenue share of 19.9% in 2020. The strong emphasis of several IT and telecom companies to roll out more efficient collaboration among their globally-distributed teams is driving the need to deploy UCaaS solutions. Incumbents of the IT and telecom industry often have to work with high-profile clients, such as government departments and federal organizations, which calls for secure and efficient exchange of information. The growing need for data security and privacy protection is driving the adoption of UCaaS solutions by IT and telecom companies.
The healthcare industry gained a significant revenue share in 2020 as patients remain keen on striking efficient communication with healthcare officials and caregivers to obtain better care. As a result, doctors and healthcare providers also remain keen on accessing critical patient data from various sources in real-time to optimize healthcare experience and improve operational efficiency. The growing adoption of UCaaS solutions by healthcare systems, including the National Health Service (NHS), is also encouraging other regional healthcare establishments to deploy the technology at the organizational level. Regulations such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA) are particularly prompting healthcare organizations to deploy private cloud UCaaS solutions to ensure adequate data security and privacy protection.
North America dominated the global market in 2020 with a revenue share of over 31.0%. Given that the U.S. has been among the worst-affected countries by the outbreak of the COVID-19 pandemic, government bodies, healthcare providers, and offline and online distribution channels in the U.S. are looking forward to efficient communication and collaboration to ensure adequate care and diagnosis. This is driving the adoption of UCaaS solutions in the U.S.
Asia Pacific is expected to witness substantial growth over the forecast period owing to the continued digitization and the growing mobile workforce in the region. An aggressive rollout of high-speed internet at affordable tariffs and rapid smartphone proliferation in the region are particularly allowing people to work remotely and subsequently encouraging enterprises to opt for UCaaS solutions. Furthermore, the presence of a significant AI-development hub in several Asian countries, including Singapore, has led to the rise of several startups that offer AI-related services to clients across the globe. This is typically driving the adoption of UCaaS solutions and platforms in the region and is expected to contribute to the growth of the market over the forecast period.
Cisco Systems, Inc.
Industry Vertical Outlook
IT & Telecom
The Unified Communication As A Service market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Unified Communication As A Service market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Unified Communication As A Service market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Unified Communication As A Service market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Unified Communication As A Service market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Unified Communication As A Service capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Unified Communication As A Service by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Unified Communication As A Service market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Unified Communication As A Service market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Unified Communication As A Service market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Unified Communication As A Service industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Unified Communication As A Service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Unified Communication As A Service market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Unified Communication As A Service market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Unified Communication As A Service market. These factors have benefited the growth of the global market for Unified Communication As A Service. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Unified Communication As A Service. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Unified Communication As A Service are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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