Unified Communication As A Service Market Worth $262.37 Billion By 2030: Grand View Research, Inc.

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Dec 21, 2022, 07:00 ET

SAN FRANCISCO, Dec. 21, 2022 /PRNewswire/ -- The global unified communication as a service market size is expected to reach USD 262.37 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 20.6% from 2022 to 2030. Increasing preference towards combining unified communication with IoT is providing new opportunities in the market, as the adoption of cloud solutions and services showing significant increment over the past years as enterprises are adopting artificial intelligence and machine learning-enabled solutions for communication which gives a path to boost the market in the future. Organizations are deploying AI-enabled UCaaS for strategy planning, decision-making, and workflow structuring.

Key Industry Insights & Findings from the report:

The public cloud deployment gaining the momentum in the market of unified communication as a service and is going to acquire around 70% by the end of 2030.
Automotive industry vertical is having significant boost in the unified communication as a service market as the market is anticipated to have a CAGR of around 16% during the forecast period.
Asia Pacific is expected to record a growth rate of around 27% from 2022 to 2030.

Read 160-page full market research report for more Insights, "Unified Communication As A Service Market Size, Share & Trends Analysis Report By Deployment (Public Cloud, Private Cloud), By Industry Vertical (Automotive, Education, Healthcare), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Unified Communication As A Service Market Growth & Trends

UCaaS provides enterprises a way to roll out an effective way of communication without having any investment in the infrastructure of IT, which makes SMEs adopt UCaaS solutions for doing their unified communication at affordable rates. In the wake of the pandemic, few small enterprises use UCaaS as a solution to roll out a hybrid working model, as it has benefits such as affordable prices and operational flexibility, which are expected to impact the market over the forecast period positively.

The public sector in every country is rapidly analyzing and discovering the way to use their communication and collaboration tools in a manner that they unified for providing better productivity and performance, as the local government is collaborating with key players and other kinds of small organizations, which helps each other to operate the communication practically by creating awareness among others.

Asia Pacific will be the highest-growing region in the market, which can be attributed to leading the market during the forecast period. The region has a trend of unifying communication services with cloud technologies. The increasing AI development in the region further penetrates the manufacturers to grow their supply chain and distribution network. Furthermore, increasing usage of smartphones and rolling out high-speed internet at very affordable prices encourage enterprises to adopt the UCaaS.

Unified Communication As A Service Market Segmentation

Grand View Research has segmented the global unified communication as a service market based on deployment, industry vertical, and region

UCaaS Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

Public Cloud
Private Cloud

UCaaS Industry - Vertical Outlook (Revenue, USD Billion, 2018 - 2030)

Automotive
Education
Healthcare
BFSI
Hospitality
Real Estate
Legal
IT & Telecom
Others

UCaas Market - Regional Scope (Revenue, USD Billion, 2018 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.

Asia Pacific

China
India
Japan

Latin America

Brazil
Mexico

Middle East and Africa

List of Key Players in Unified Communication as a Service (UCaaS) Market

8x8 Inc.
ALE International
Amazon.com Inc.,
Avaya Inc.
CenturyLink Inc.
Cisco Systems Inc.
Fuze Inc.
IBM Corporation
Mitel Networks Corp.
NEC Corporation
RingCentral, Inc.
Verizon Communications Inc.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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