Global Unified Communication-as-a-Service Market to 2030: Market to Grow by Over $55 Billion - 5G Networks and BYOD Adoption Drive UCaaS Market Expansion

DUBLIN, Jan. 24, 2024 /PRNewswire/ -- The "Global Unified Communication-as-a-Service Market 2030 by Component, Delivery Model, Enterprise Type, Deployment, Vertical, and Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.

The Unified Communication-as-a-Service (UCaaS) Market size is estimated to grow from USD 28.7 Billion in 2022 to reach USD 84.3 Billion by 2030, growing at a CAGR of 14.6% during the forecast period from 2023 to 2030.

Increasing Demand from Businesses of All Sizes Is Driving the Growth of the Unified Communications as a Service (UCaaS) Market

The expansion of the Unified Communications as a Service (UCaaS) Market is propelled by several key factors, including the rising demand for UCaaS from both large enterprises and small to medium-sized businesses (SMEs), as well as the increasing emphasis on mobility and Bring Your Own Device (BYOD) trends. Additionally, the progress in artificial intelligence, machine learning, and other emerging technologies is poised to generate substantial opportunities for UCaaS vendors.

UCaaS encompasses an array of technologies and applications, offered and supported as a unified communications platform. This platform enables businesses to utilize integrated data, video, and voice services within a single supported solution. Moreover, real-time integration of unified messaging, collaboration tools, and interactive technologies further enhance the unified communications experience.

For instance, a single-user mailbox can provide access to multiple communication applications such as email, SMS, video, fax, and audio, resulting in heightened demand for enhanced communication services and consequently fostering the growth of the UCaaS market.

The market's expansion is driven by the increasing demand for high-speed 5G networks and the growing trend of BYOD and mobility. Furthermore, the migration from legacy systems to cloud-based communication services contributes to the growth of the UCaaS market.

Nonetheless, concerns regarding security and interoperability, along with the initial high costs of adopting unified communications as a service, constrain the market's growth. Conversely, the integration of advanced technologies into UCaaS is expected to present numerous opportunities for expanding the size of the UCaaS market during the forecast period.

North America Hold the Highest Market Share in the Global Unified Communication as a Service Market

North America holds the highest market share in the global Unified Communication as a Service market during the forecast year, driven by the widespread adoption of advanced business communication solutions. Enterprises in this region have seamlessly integrated services like video and audio conferencing, chat, email, and voice into their operational framework.

The growth in this region is propelled by the adoption of trends such as 'Bring Your Own Device' (BYOD) and telepresence systems, supported by the presence of key industry players including IBM Corporation, Verizon Communication Inc., Google LLC, Avaya Inc., among others.

At the same time, the Asia Pacific region is poised to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is attributed to the escalating demand for internet-based communication services within small and medium enterprises. Communication tools like Voice over Internet Protocol (VoIP) and audio-video conferencing are widely embraced across countries like India, South Korea, China, Japan, and Oceania. Additionally, the substantial surge in cloud traffic across the region is expected to further drive the demand for Unified Communication as a Service offerings.

Increase in the shift from traditional legacy systems to cloud-based communication services

As business communications continue to expand, enterprises are actively pursuing solutions to manage complexity, reduce costs, and enhance overall productivity. Consequently, the adoption of unified communication as a service, a cloud-based paradigm, has seen a notable uptick. Businesses are revamping their strategies to enhance adaptability, productivity, and agility, aligning with the trend towards flexible and hybrid work models and leveraging cloud-based solutions to accommodate a diverse workforce spanning devices, departments, and time zones.

Moreover, cloud-based unified communication solutions offer cost efficiency, scalability, and the latest features and security, making them an appealing choice. The imperative for robust cloud security has grown in response to high-profile breaches, making it a paramount concern for businesses. 

Company Profiles

• 8x8 Inc. (US)
• ALE International (France)
• Amazon.com Inc. (US)
• Avaya Inc. (US)
• CenturyLink Inc. (US)
• Cisco Systems Inc. (US)
• Fuze Inc. (US)
• IBM Corporation (US)
• Mitel Networks Corp. (Canada)
• NEC Corporation (Japan)
• RingCentral, Inc. (US)
• Verizon Communications Inc. (US)
• Zoom Video Communications, Inc. (US)
• Microsoft Corporation (US)
• Google LLC (Alphabet) (US)
• Genesys (US)

Major Classifications are as follows:

Unified Communication-as-a-Service (UCaaS) Market, By Component

• Telephony
• Unified Messaging
• Collaboration Platforms
• Conferencing
• Others

Unified Communication-as-a-Service (UCaaS) Market, By Delivery Model

• Managed Services
• Hosted/Cloud Services

Unified Communication-as-a-Service (UCaaS) Market, By Enterprise Type

• Small & Medium-sized Enterprises (SMEs)
• Large Enterprises

Unified Communication-as-a-Service (UCaaS) Market, By Deployment

• Private Cloud
• Public Cloud

Unified Communication-as-a-Service (UCaaS) Market, By Vertical

• BFSI
• IT and Telecommunications
• IT-enabled Services (ITeS)
• Retail and Consumer Goods
• Government and Defense
• Education
• Healthcare
• Others

Unified Communication-as-a-Service (UCaaS) Market, By Geography

• North America
• US
• Canada
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia Pacific
• Rest of the World
• Middle East
• UAE
• Saudi Arabia
• Israel
• Africa
• South Africa
• Rest of Africa

For more information about this report visit https://www.researchandmarkets.com/r/a03zg1

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