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2020 Unified Communication-as-a-Service (UCaaS) Market Forecast Analysis by Trends, Major Companies Analysis, Growth Rate by Regions, Company Overview till 2024

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The “Unified Communication-as-a-Service (UCaaS) Market” report provides a complete overview of the market trade scenario, size, segmentation, competition scenario, and others. It provides the perfect industry detailed description of the different products and service segments associated with the key players. Unified Communication-as-a-Service (UCaaS) market report includes research methodology, value chain analysis, industry analysis by the power of suppliers and consumers. Unified Communication-as-a-Service (UCaaS) market report also includes new upcoming technology of Unified Communication-as-a-Service (UCaaS) Industry that will help to our clients.

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Market Overview:

  • The global unified communication as-a-service market was valued at USD 4370.19 million in 2018 and is expected to reach a value of USD 17165.9 million by 2024, at a CAGR of 25.67 %, during the forecast period 2019 – 2024. Unified Communications (UC), since its inception, emerged as a cost-effective solution for businesses across industries, such as healthcare, BFSI, and retail.
  • – The need for easy-to-maintain network systems that enable effective communication possible across the end-user industries, including retail, healthcare, and manufacturing, among others, is evident, considering the old/obsolete contact centers.
  • – Ease of adopting cloud technology has further boosted the adoption of video conferencing, which is driving the adoption of cloud services for various business needs. The availability of cloud-based systems is easing the adoption of UCaaS by healthcare providers.
  • – For instance, in 2018, The British Medical Journal (BMJ) deployed RingCentral’s UCaaS to make its comms infrastructure fit for the cloud era. This has helped BMJ to improve on its support processes.
  • – The growing adoption of BYOD and other mobility solutions has been aiding the adoption of UCaaS solutions. With respect to the consumer, mobile-first solutions, and IP applications, communication is enabled through chat/audio/video call through the same device, which addresses all customer queries. These solutions are aimed at enhancing customer service assistance, self-service, and merchandise inquiries. Employees benefit from deploying virtual training and merchandise management tools.
  • – Companies are also introducing new products or services into leverage the growing demand for UCaaS. Maintel launched ICON Now, which is a UCaaS offering aimed at companies with 100 to 1,000 employees.

    Unified Communication-as-a-Service (UCaaS) Market Covers Key Players:

  • Mitel Networks Corporation
  • Ring Central Inc.
  • 8X8 Inc.
  • Verizon Communications Inc.
  • Comcast Corporation
  • Vonage Holdins Inc.
  • West Corporation
  • Star2Star Communications LLC
  • DXC technology
  • Alcatel Lucent Enterprise International
  • IBM Corporation
  • Cisco Systems Inc.

    Some Major Points Covered in Unified Communication-as-a-Service (UCaaS) Market Report:

    • Introduction and Market Overview
    • Industry Chain Analysis
    • Market, by Type
    • Market, by Application
    • Production, Value ($) by Region (2014-2019)
    • Production, Consumption, Export, Import by Regions (2014-2019)
    • Market Status and SWOT Analysis by Regions
    • Competitive Landscape
    • Analysis and Forecast by Type and Application
    • Analysis and Forecast by Region
    • New Project Feasibility Analysis
    • Research Finding and Conclusion

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    Scope of the Report:

  • Unified communications-as-a-Service refers to a service model where the provider delivers different telecom or communications applications, software products and processes generally over the web. The unified communication unifies or integrates all the communication methods used by a business into a single platform or multiple communication tools. This report segments the market by End-user Industry (Healthcare, Retail, Manufacturing, Financial services, and other End-user Industries) and Geography.

    Key Market Trends:

    Manufacturing Sector is Expected to Register a Significant Growth

    – Unified Communications as-a-Service can help in managing the assets of a factory. This is possible just by scanning the QR code placed on the machine equipment that holds the data like warranties, maintenance logs, manufacturing dates and more by using a UCaaS app on a smartphone that instantly updates the information on the equipment. This allows the companies to better track their assets allowing them to order a repair or replacement if needed.
    – Computer-Aided Design is a software that is used for the creation, modification, analysis or optimization of a design that is used by the companies to improve the productivity of the designers, quality of the designs and improve the communications by creating a database for the manufactures. This software coupled with the services offered by the UCaaS can be helpful for the personnel to gain greater control over their designs by allowing them to communicate with other designers operating in the same company.
    – With the adoption of Industry 4.0 and Smart factory initiatives by the manufacturing firms, are set to revamp the manufacturing industry which would result in a boost in the contribution to the country’s GDP. This boost would also influence the UCaaS market in a positive way.

    Europe is Expected to Occupy Significant Market Share

    – The United Kingdom’s carriers’ initiatives to discontinue integrated services digital network (ISDN) services are driving carrier and customer migration to Internet protocol (IP) connectivity services. The shift is fueling the adoption of next-generation business communication solutions, such as hosted private branch exchange (PBX) and UCaaS markets.
    – In March 2017, the Office for National Statistics announced that retail sales volumes were up by 1.4% when compared to January, and 3.7% higher than in February 2016. Sterling rose on the currency markets after the news of the rise was announced.
    – Looking at the potential growth in the retail industry, major players, like 8×8, a US-based company, which is one of the largest UCaaS providers supporting more than 1 million users, expanded significantly in the European market, after the two acquisitions of UK-headquartered enterprises.
    – The introduction of new technologies like 5G is expected to drive the UCaaS market in the United Kingdom region. This is due to the UK’s launch of the first 5G industrial trial in February 2019, with a view to creating smart factories that would boost the UCaaS market positively.

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    Detailed TOC of Unified Communication-as-a-Service (UCaaS) Market Report 2020-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Scope of the Study
    1.3 Study Assumptions

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Industry Attractiveness – Porter’s Five Force Analysis
    4.2.1 Threat of New Entrants
    4.2.2 Bargaining Power of Buyers/Consumers
    4.2.3 Bargaining Power of Suppliers
    4.2.4 Threat of Substitute Products
    4.2.5 Intensity of Competitive Rivalry
    4.3 Introduction to Market Drivers and Restraints
    4.4 Market Drivers
    4.4.1 Need for Enhanced Communication in an IoT Ecosystem
    4.4.2 Increased Demand for Mobility and BYOD
    4.5 Market Challenges
    4.5.1 Integration of Legacy and Existing System to cloud due to Limited infrastructure

    5 MARKET SEGMENTATION
    5.1 End-user Industry
    5.1.1 Healthcare
    5.1.2 Retail
    5.1.3 Manufacturing
    5.1.4 Financial Services
    5.2 Geography
    5.2.1 North America
    5.2.1.1 United States
    5.2.1.2 Canada
    5.2.2 Europe
    5.2.2.1 United Kingdom
    5.2.2.2 Germany
    5.2.2.3 France
    5.2.2.4 Rest of Europe
    5.2.3 Asia-Pacific
    5.2.3.1 China
    5.2.3.2 India
    5.2.3.3 Japan
    5.2.3.4 Rest of Asia-Pacific
    5.2.4 Rest of the World

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Mitel Networks Corporation
    6.1.2 Ring Central Inc.
    6.1.3 8X8 Inc.
    6.1.4 Verizon Communications Inc.
    6.1.5 Comcast Corporation
    6.1.6 Vonage Holdins Inc.
    6.1.7 West Corporation
    6.1.8 Star2Star Communications LLC
    6.1.9 DXC technology
    6.1.10 Alcatel Lucent Enterprise International
    6.1.11 IBM Corporation
    6.1.12 Cisco Systems Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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