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Global UCaaS Market: Rising Demand for Enterprise Mobility Propels Growth

Blog Description

Unified communication-as-a-service or UCaaS is the hottest trend among enterprises and IT services providers at present. The market for UCaaS is witnessing healthy growth across the world, owing to the rising demand for enterprise mobility as well as the mobile workforce. The increasing cognizance of the benefits offered by UCaaS such as low operational cost and consistency in performance has propelled this market extensively.

Browse the full Global Unified communication-as-a-service (UCaaS) Market Report:

North America to Maintain Lead in Global UCaaS Market

According to a research report published by Transparency Market Research (TMR), the UCaaS market stood at a valuation of US$5.6 bn globally. It is projected to expand at an impressive CAGR of 23.40% between 2014 and 2022 and reach a market value of US$37.8 bn by the end of 2022.

North America leads the global market for UCaaS. The rapid growth of medium and small businesses in North America is the key factor behind the rise of UCaaS market in this region. In 2013, it accounted for a share 48.8% of the overall revenue generated in this market. The huge investments for UCaaS across various industries including retail, BFSI, telecommunication, and transportation has ensured its dominance over the next few years.

Though North America will continue to hold the leadership, it is Asia Pacific, which is showing fastest development in the global UCaaS market. The continual shift of large enterprises to UCaaS – which generates the maximum revenue in Asia Pacific – is the key reason for this tremendous growth in the market share of Asia Pacific UCaaS market.

Here is snapshot of the latest trends and activities in the Asia Pacific UCaaS market:

  • Australia is likely to acquire the leading position in the coming years; India, China and Korea will be following closely.
  • Flexibility and agility provided by UCaaS technology is the key factor, encouraging enterprises to adopt UCaaS in Asia Pacific.
  • UCaaS has emerged as the prime delivery model in Asia Pacific, as many international as well as local service providers are offering full-fledged UCaaS as a part of their principal collaboration portfolio.
  • The rising penetration of smartphones and tablets is propelling the demand for unified communication in Asia Pacific substantially.
  • The increasing popularity of UCaaS as an opex and agile-friendly collaboration tool model among enterprises, looking to support their business expansion is anticipated to fuel the Asia Pacific UCaaS market significantly in future. However, the instability in the economic condition and the lack of appropriate infrastructure to support 4G networks is likely to hamper the market’s growth in forthcoming years.

Browse the full Press Release of Global Unified communication-as-a-service (UCaaS) Market

Avaya Inc., Alcatel-Lucent SA, Polycom Inc., Cisco Systems Inc., IBM Corp., Hewlett-Packard Enterprise, Microsoft Corp., Unify Inc., Thinking Phone Networks Inc., NEC Corp., Avanade Inc., West Corp., Visionoss Ltd., Computer Sciences Corp., ShoreTel Inc., 8×8 Inc., Orange Business Services, Verizon Communications Inc., NTT Communications Corp., Telstra Corp. Ltd., and Mitel Networks Corp. are the key players operating in the global UCaaS market.