Worldwide Unified Communication As A Service(UCAAS) Market Expected To Reach $ 23.55 Billion By 2020 With A CAGR Of 10.9%

Date: 2016-09-18

Unified Communications as a Service (UCaaS) is a category of “as a Service” or “Cloud” delivery mechanisms for Enterprise Communications. Similar to “Platform as a Service” (PaaS) (where data center capacity is made available to an enterprise on a consumption model from a service provider), with UCaaS, unified communications services can be made available from the cloud to enterprises. UCaaS is part of the global industry trend towards cloud services.

The global Unified Communication as A Service(UCAAS) market was estimated at USD$ 15.7 billion in 2015, and is anticipated to reach USD$ 25.98 billion by 2020, expanding at a CAGR of 10.9% between 2016 and 2020. Factors such as growing trend towards mobility and Bring Your Own Device (BYOD), continuous service support, low cost of ownership, and pay-per-use model are expected to boost the growth of the market during the forecast period.

Geographically, North America headed the global UCaaS market in 2015 and the region is expected to continue to be the leading revenue generator throughout the forecast period. This growth can be attributed to the presence of a massive tech-savvy workforce and advanced network infrastructure in the region. The demand for UCaaS is likely to increase in the coming years as vendors invest in sectors such as banking, financial services, and insurance (BFSI), consumer goods, retail, transportation and logistics, and telecom. This is likely to open up new offerings for UCaaS.

Asia Pacific is forecast to be the most rapidly growing market for UCaaS owing to the rising inclination of large companies toward UCaaS solutions. The region also presents immense opportunities for the establishment of contact center services due to a growing population proficient in the English language. Asia Pacific is a lucrative option for various businesses due to the availability of a comparatively cheaper workforce and rapid growth in emerging economies such as India and China. Campaigns such as ‘Make in India’ have led to the establishment of offices and manufacturing units in India, which is anticipated to further the need for UCaaS to stay connected with the headquarters situated at a different location. Moreover, the introduction of new mobile phones and tablets is going to increase the demand for unified communication in this region.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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