Unified Communication as a Service Market to be Driven by Growing Need for Scalability of Organizational Resources & Development of Modern Trends for Day-to-day Business: Radiant Insights, Inc.
Unified communication as a service (UCaaS) is gaining a high momentum within the corporate sector and several organizations are turning to seek more productivity through collaborations and mobile workforce. BYOD (bring your own device) is an ongoing trend and is becoming commoner in the corporate workspace. Collaborations using social media technologies and growing digitization in the workspace are fuelling the demand for unified communication and collaboration services. Moreover, availability of software platform for end-users has become easy available under UCaaS delivery model.
UcaaS offers several benefits of cloud computing for any business as many organizations enjoy elasticity in resources and deployment of cloud resulting out of collaboration. Hence, migrating to UC solutions can be a significant move and hence there needs to be a careful consideration within the scope of deployments for contact centers. For instance, adoption of cloud technology boosts the demand for cloud services for various business needs within healthcare domain and therefore there is a high adoption for digital collaboration tools across healthcare providers.
Unified communication as a service industry is driven by growing need for scalability of organizational resources and development of modern trends for day-to-day business. High adoption of UCaaS in the enterprise sector is likely to enhance the market growth throughout the forecast period. Moreover, UCaaS is a reasonable and diversified delivery model wherein it is driven by features such as low cost and flexibility. Use of cloud-based UCaaS delivery models for diversified sectors is driving the market growth on the global scenario. However, lack of awareness followed by low technological support is likely to restrict the market growth throughout the forecast period.
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By components, the unified communication as a service market can be segmented as unified messaging, telephony, conferencing and collaboration applications. Telephony and conferencing are largest components attributing to rise in popularity and high preference. Moreover, growing digitization practices are enabling organizations to introduce BYOD trends to their workspace.
By application, this market can be segmented as banking, financial services and insurance (BFSI), retail, telecom and IT, hospitality, healthcare and others. Healthcare and IT are largest growing segments attributing to the rise in number of digital devices and growing importance of collaboration services. Retail and BFSI are emerging segments that are anticipated to exhibit a high revenue share in the years to come.
By enterprise size, the unified communication as a service market can be segmented as small, medium and large. Small and medium enterprises are likely to have a strong market share attributing to need for high scalability. Large enterprises witness a moderate growth attributing to the small-scale deployment of UCaaS technologies.
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By region, the unified communication as a service market can be segmented as North America, South America, Europe, Asia Pacific, Middle-East and Africa. North America is anticipated to hold a significant market share attributing to availability of technological support, integrated framework and availability of communication infrastructure. Presence of key players with supportive policies in the workplace environment is likely to propel the growth factors in the regional markets.
Asia Pacific is likely to have a strong prominence in the global scenario attributing to the rise in technological support and availability of huge opportunities in the IT sector. Change in paradigm trends in manufacturing and logistical support and preference for digital devices is more likely to induce in a significant development. In addition, the change in policies and regulations and availability of a high bandwidth encourages the collaboration for unified as a communication service.
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