Unified Communication As-a-Service in Retail Market Expected to Register a CAGR of 16% - Global Growth, Trends, and Forecasts 2019-2024

DUBLIN, July 22, 2019 /PRNewswire/ -- The "Unified Communication As-a-Service in Retail Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

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The global unified communication as-a-service in retail market is expected to register a CAGR of over 16% during the forecast period (2019 - 2024).

Unified Communications (UC) Solutions enables retailers to provide a rich platform for collaboration and smarter way to interact seamlessly, converging physical experiences with virtual, while reducing costs and enabling flexible expansions across the enterprise.

    --  The lack of awareness of the technology is hindering the growth of the
        market. In one of the surveys done by Retail Week, it was figured out
        that more than 69% of retailers were not aware of Unified Communications
        Solutions and 38% of them said that they did not know the benefits of
        implementing the same.
    --  The growing adoption of BYOD and other mobility solutions has been
        aiding the adoption of UCaaS solutions.
    --  The growing adoption of IP applications to enhance customer experience &
        in-store operations are also expected to boost the growth of the market
        studied.

Scope of the Report

The changing consumer behavior has resulted in a dynamic shift in today's Retail Industry. From a single point of physical interaction to omni-channel interactions like web, mobile or social media, consumers today are demanding the need for providing enhanced shopping experience across all channels.

Key Market Trends

Increasing Small and Medium Scale Industries to Drive the Market

    --  The dependency of small and medium-sized businesses (SMBs) on the cloud
        is proliferating and is expected to increase in the future. UCaaS has
        emerged as an ideal solution for SMBs, mainly when delivered in a
        cloud-based model.
    --  These solutions combine real-time, integrated voice and collaboration
        capabilities, along with a flexible and scalable delivery model, making
        them well suited for SMBs. The primary benefit of UCaaS for SMBs is more
        about reducing costs than having an impact on business.
    --  These businesses regard to cost savings, increased security, and
        simplified management as the significant benefits of deploying UCaaS. A
        recent study by ATT confirmed that two-thirds (67%) of small businesses
        (with fewer than 100 employees) use VoIP today. SMBs interested in
        hosted IP telephony and VoIP access service are likely to increase.
        Also, more than 70% of SMBs are expected to purchase new communication
        technologies in the next two years.

North America to Hold Major Share

    --  The region has many brick-and-mortar stores are which increasingly
        offering Buy Online, Pickup In Store (BOPIS) and Buy Online, Return In
        Store (BORIS) flexibility. This is driving more calls for Return
        Merchandise Authorizations, inventory inquiries, and appointments for
        value-added services like installations and customizations.
    --  Moreover, the region has the United States which has a well-established
        distribution channel for all forms of retail sales. The retail segment
        in the country employs around 29 million people and provides more than
        42 million jobs. Sales in the sector are expected to increase by 3.4%
        year-on-year, with e-commerce retail sales expected to grow by 7-10%.
    --  Further, the retailers in the region are scrambling to meet the
        expectations and demands of an increasingly digital customer base,
        asking for better co-operation and communication between the staff to
        provide seamless services to the customers. The companies in the region
        are further promoting UCaaS by providing innovative solutions.
    --  For instance, Amazon USA has released Chime, a cloud-based UCaaS, hosted
        in Amazon Web Service's cloud. It provides video conferencing service to
        enterprises and works on both desktop & mobile phones. It was deployed
        in retailer Brooks Brothers' stores as a pilot project. Other retailers
        are expected to incorporate Chime in their stores, as the demand for
        UCaas in retail is expected to rise dramatically.

Competitive Landscape

The unified communications-as-a-service in retail market is moderately competitive. The companies in the market are strategically innovating, collaborating and expanding in providing sustainable solutions in order to withstand the growing competition in the market.

    --  November 2018: Cisco introduced a cloud phone system, and three new
        collaboration products at its Partner Summit event in Las Vegas. The
        offering is centered on the integration of Cisco's BroadSoft business
        with the rest of the company's collaboration portfolio.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Adoption of IP applications to Enhance Customer Experience & In-store Operations
4.3.2 The Increased Demand for Mobility and BYOD
4.3.3 Demand Small and Medium Sized Businesses
4.4 Market Restraints
4.4.1 Integration Existing System To Cloud Due To Limited To Store Infrastructures
4.5 Industry Attractiveness - Porter's Five Force Analysis

5 TECHNOLOGY SNAPSHOT

6 MARKET SEGMENTATION
6.1 Geography
6.1.1 North America
6.1.1.1 US
6.1.1.2 Canada
6.1.2 Europe
6.1.2.1 UK
6.1.2.2 Germany
6.1.2.3 France
6.1.2.4 Italy
6.1.2.5 Rest of Europe
6.1.3 Asia Pacific
6.1.3.1 China
6.1.3.2 India
6.1.3.3 Japan
6.1.3.4 Rest of Asia-Pacific
6.1.4 Rest of World

7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 RingCentral Inc.
7.1.2 8X8 Inc.
7.1.3 Verizon Communications Inc.
7.1.4 Mitel Networks Corporation
7.1.5 Comcast Corporation
7.1.6 Vonage Holdins Inc.
7.1.7 West Corporation
7.1.8 Star2Star Communications LLC
7.1.9 DXC Technology Company
7.1.10 Tieto Oyj
7.1.11 IBM Corporation
7.1.12 Alcatel-Lucent USA Inc.
7.1.13 Cisco Systems Inc.

8 INVESTMENT ANALYSIS

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/fm6hmf

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