Unified Communication as a Service (UCaaS) Market Worth 28.69 Billion USD by 2021

17 Aug, 2016, 09:30 ET from MarketsandMarkets

PUNE, India, August 17, 2016 /PRNewswire/ --

According to a new market research report "Unified Communication as a Service (UCaaS) Market by Component (Telephony, Unified Messaging, Conferencing), Organization Size (Small, Medium, and Large), Industry (BFSI, Telecom & IT, Consumer Goods & Retail), and Region - Global Forecast to 2021" published by MarketsandMarkets , the UCaaS market size is expected to grow from USD 17.35 Billion in 2016 to USD 28.69 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period.

     (Logo: http://photos.prnewswire.com/prnh/20160303/792302 )

Browse 71 market data Tables and 56 Figures spread through 144 Pages and in-depth TOC on "Unified Communication as a Service (UCaaS) Market"

http://www.marketsandmarkets.com/Market-Reports/unified-communication-as-a-service-ucaas-market-893.html
Early buyers will receive 10% customization on this report.

The major drivers of this market include low cost of ownership as compared to other communications tools, pay-per-use model of charging the end users, growing trends towards mobility and Bring Your Own Device (BYOD), integration of all communicating services at a single platform, increasing demand by SMBs, and continuous service support.

Telephony segment is expected to hold the largest market share during the forecast period 

The capability of integrating multiple functions of communication on one platform makes telephony an important tool from the business perspective. Telephony is expected to hold the largest market share owing to its compatibility with automated transmissions of voice, fax, or other information. The increasing demand of VoIP and IP telephony in BFSI, telecom & IT, logistic & transportation, and travel & hospitality industries acts as a major driving factor for the growth of telephony in the UCaaS market.

Consumer goods and retail vertical is expected to dominate the Unified Communication as a Service Market during the forecast period 

The Unified Communication as a Service Market is also segmented into various industry verticals, out of which the adoption of unified communication solutions is expected to be the largest in the consumer goods and retail vertical as it helps retail outlets to streamline the business processes by enabling quick, real-time services and faster transaction closures. Moreover, BFSI, logistic & transportation, and IT & telecom verticals are expected to gain traction during the forecast period.

Ask for Sample Pages @ http://www.marketsandmarkets.com/requestsample.asp?id=893

North America is expected to hold the largest market share in the UCaaS market 

North America is expected to hold the largest market share and dominate the Unified Communication as a Service Market from 2016 to 2021. The main drivers responsible for the growth of UCaaS services in North America are the stable economy, technological advancements, and unified communication infrastructure demands. The Unified Communication as a Service Market in APAC is expected to witness highest the growth in the coming five years due to increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India and China.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, business expansions, and product developments, adopted by major players to increase their market share. Some of the major service providers include Cisco Systems (U.S.), Computer Science Corporation (U.S.), BT Group (U.K.), 8x8 (U.S.), West Corporation (U.S.), Microsoft Corporation (U.S.), Voss Solutions (U.S.), Verizon Communication (U.S.), Star2star Communications (U.S.), and Polycom (U.S.).

Browse Related Reports: 

Cloud Communication Platform Market by Solution and Service (UCC/UCaaS, WebRTC, VoIP, IVR, API, Reporting and Analytics, and Training and Consulting, Support and Maintenance Service, and Managed Service) - Global Forecast to 2021

http://www.marketsandmarkets.com/Market-Reports/cloud-communication-platform-market-227618526.html

Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp

About MarketsandMarkets 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets 
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets

SOURCE MarketsandMarkets