Unified Communications as-a-service (UCaaS) Market Expected to grow by $7.62 Billion by 2018
MarketsandMarkets, a market research and consulting firm based in US has conducted a study on Unified Communications as-a-service (UCaaS) Market. The firm has done a research on the advancement, emerging applications, business models, technology roadmaps, global forecasts & analysis (2013 – 2018).
This study analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
The report states that video technology and collaboration solutions have contributed to growth of UCaaS market. The UCaaS collaboration application market revenue is expected to grow from $540.74 million in 2013 to $1.75 billion by 2018, at an estimated CAGR of 26.5 percent from 2013 to 2018.
Companies across all sectors are using UCaaS, cloud based unified communication which integrates web conferencing, video conferencing, messaging, VoIP and presence over cloud that helps to decrease front load capital cost, enabling businesses to scale communications easily and effectively, thereby reducing travel time and leaner business processes.
MarketsandMarkets reports that the global Unified Communications As-a-Service (UCaaS) market is expected to grow from $2.52 billion in 2013 to $7.62 billion by 2018, at an estimated CAGR of 24.8 percent from 2013 to 2018. According to study, telephony is the most used technology for now and will remain so in coming few years as well and the global UCaaS telephony market is expected to grow from $870 million in 2013 to $2.48 billion by 2018, at an estimated CAGR of 23.3 percent from 2013 to 2018.
Companies are interested to deploy UCaaS on their existing infrastructure. So this results in hybrid UCaaS that allows many cloud providers to integrate their services with UCaaS service providers.
The report also offers the competitive landscape of the Unified Communications as-a-service (UCaaS) Market and provides a detailed comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors.
Edited by Ryan Sartor