NEW YORK, Nov. 29, 2016 /PRNewswire/ -- "Growing trends of mobility and Bring Your Own Device (BYOD), shifting expense from CAPEX to OPEX and service deployment across the globe and growing importance of asset tracking are some of the drivers of the Unified Communication as a Service (UCaaS) market"
The UCaaS market size is estimated 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% due to the increasing need for communication infrastructure across the world. The UCaaS market is growing rapidly because of the increase in adoption of unified communication services, due to shifting of expenses from CAPEX to OPEX.
"Enterprises are expected to gain prominent traction during the forecast period"
The enterprises segment is expected to grow at the highest CAGR during the forecast period. UCaaS is ideal for large asset intensive companies that have large amounts of equipment, which require seamless communication across the globe. Enterprises are more receptive towards the deployment of unified communication services as they need to supervise the lifecycle activities of workforce in order to make the most of the return on investments.
"North America is witnessing a high growth potential during the forecast period"
North America is expected to account for the largest market share in 2016. With the increasing use of unified services in consumer goods & retail and logistic & transportation verticals in the U.S. and Canada, the UCaaS market in this region is set to grow at a rapid pace in the region. Driving force behind the growth of the UCaaS market is the digitization of businesses and adoption of cloud services by small, medium, and large enterprises.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given below.
- By Company Type: Tier-1 (35%), Tier-2 (40%), and Tier-3 (25%) companies
- By Designation: C-level (40%), Directors (30%), and Others (30%)
- By Region: North America (40%), APAC (25%), Europe (20%), and Rest of the World (15%)
The various key unified communication service providers profiled in the report are as follows:
1. Cisco Systems
2. Computer Science Corporation
3. BT Group
4. 8x8, Inc.
5. West Corporation
6. Microsoft Corporation
7. Voss Solutions
8. Verizon Communication
9. Star2star Communications
10. Polycom, Inc.
The report will help the market leaders/new entrants in UCaaS market in the following ways:
1. This report segments the UCaaS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different services and regions.
2. The report helps the stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help the stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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