SANTA CLARA, Calif., March 21, 2017 /PRNewswire/ -- The urgency to improve productivity, business agility, and competitive positioning is compelling North American businesses to opt for Internet Protocol (IP) telephony and unified communications-as-a-service (UCaaS) solutions. Migration from traditional, premised-based options to cloud communications provides businesses with faster and further economical access to advanced features and capabilities. More flexible cloud deployment models also reduce the risk of sunk costs and technology obsolescence, as well as enable operational efficiencies.
To address growing demand for cloud-based communications tools providers are offering feature-rich UCaaS service bundles as well as flexible application programming interfaces (API) and communications platforms as a service (CPaaS). Apart from easing integration with third-party applications, CPaaS solutions enable customized application development. These new capabilities allow providers to boost business transformation through communications-enabled business processes (CEBP). Providers with broader UCaaS and CPaaS portfolio are able to deliver greater customer value and best return on investment.
Frost & Sullivan analysis, North American Hosted IP Telephony and UCaaS Market, examines growth potential and restraining factors for the hosted IP telephony market. The study finds that the North American market will experience a steady compound annual growth rate (CAGR) of 26.9 percent between 2015 and 2022 in terms of installed users. To sustain growth, participants must add advanced team collaboration applications, open APIs and CPaaS solutions to their UCaaS offerings.
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"Providers with diversified solutions portfolios and holistic approaches can more effectively support business transformation," said Digital Transformation Program Director and Senior Fellow Elka Popova. "Mobility, device independence, social features, mashups and personalization, are key elements of future-proof cloud communications solutions."
Challenges for the transition to cloud telephony and UCaaS include user reluctance to invest in an infrastructure upgrade, vendor implementation of innovative business models that allow customers to consume premises-based technology through operational expenditures, as well as customer concerns regarding cloud solution security, reliability and control.
"Providers will continue to expand both up and down market, creating compelling service bundles for different types of customers," noted Popova. "Competitor consolidation will help improve market health through greater concentration of power, while the influx of disruptive entrants will continue to drive innovation and price competition."
North American Hosted IP Telephony and UCaaS Market, a part of Frost & Sullivan's Unified Communications & Collaboration Growth Partnership Service program.
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North American Hosted IP Telephony and UCaaS Market
Corporate Communications – North America
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SOURCE Frost & Sullivan