$24.8 Billion Unified Communications as a Service Market by Component, Organization Size, Vertical, and Region - Global Forecast to 2024
DUBLIN, March 9, 2020 /PRNewswire/ -- The "Unified Communications as a Service Market by Component (Telephony, Unified Messaging, Conferencing, and Collaboration Platforms and Applications), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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The UCaaS market size is expected to grow from USD 15.8 billion in 2019 to USD 24.8 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period.
The key factors driving the growth of the UCaaS market include increasing demand for UCaaS from both large enterprises and SMEs, and growing trends toward mobility and Bring Your Own Device (BYOD).
Based on components, the telephony segment to hold the largest market size during the forecast period
Telephony includes cloud PBX and Cloud VoIP technologies, which use softphones to communicate. However, collaboration platforms and applications is growing at the highest CAGR and will have high potential during forecast period.
Based on verticals, the telecom and IT segment to hold the highest market share in 2019 during the forecast period
Increasing budget constraints, cost-effective infrastructure solutions are becoming essential in the telecom and IT industry. Thus, this industry focuses on lowering IT budgets, especially SMEs, by leveraging cloud-based Unified Communications (UC) solutions. UCaaS solutions are increasingly gaining traction in this sector globally; this can be attributed to their high adoption of BYOD and enterprise mobility trends.
Based on regions, APAC to grow at the highest CAGR during the forecast period
The high growth of the market in APAC is attributed to a large number of SMEs in the region and the increasing adoption of UCaaS solutions. IT service providers are increasingly adopting UC due to the significant benefits of increasing enterprise productivity. Moreover, rising cloud adoption initiatives are propelling the demand for UCaaS solutions across the region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Unified Communications as a Service Market
4.2 Market in North America, By Component and Vertical
4.3 Market in Europe, By Component and Country
4.4 Market in Asia Pacific, By Component and Vertical
5 Market Dynamics
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increasing Demand for UCaaS From Both the Large Enterprises and SMES
5.1.1.2 Growing Trends of Mobility and Byod
5.1.2 Restraints
5.1.2.1 Security Concerns Over Cloud-Based Deployment
5.1.3 Opportunities
5.1.3.1 Increased Enterprise Mobility and Byod Usage
5.1.3.2 Potential or Less-Explored Markets
5.1.4 Challenges
5.1.4.1 Low Readiness to Move to Modern Unified Communications
5.2 Use Cases
5.2.1 Attraqt Leveraged RingCentral's Mobile Cloud-Based Communications Solution to Tackle Its Mobile and Distributed Workforce Needs
5.2.2 Deployed Unified System to Save Cost and Improve Employee Experience Using Mitel's Business Phone Systems
5.2.3 Cost and Time Saving, and Increase in Organizational Agility and Speed Using Meeting Solutions
6 Unified Communications as a Service Market By Component
6.1 Introduction
6.2 Telephony
6.2.1 Telephony: Market Drivers
6.3 Unified Messaging
6.3.1 Unified Messaging: Market Drivers
6.4 Conferencing
6.4.1 Conferencing: Market Drivers
6.5 Collaboration Platforms and Applications
6.5.1 Collaboration Platforms and Applications: Unified Communications as a Service Market Drivers
7 Unified Communications as a Service Market By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Large Enterprises: Market Drivers
7.3 Small and Medium-Sized Enterprises
7.3.1 Small and Medium-Sized Enterprises: Market Drivers
8 Unified Communications as a Service Market By Vertical
8.1 Introduction
8.2 Banking, Financial Services, and Insurance
8.2.1 Banking, Financial Services, and Insurance: Market Drivers
8.3 Telecom and IT
8.3.1 Telecom and IT: Market Drivers
8.4 Consumer Goods and Retail
8.4.1 Consumer Goods and Retail: Market Drivers
8.5 Healthcare
8.5.1 Healthcare: Market Drivers
8.6 Public Sector and Utilities
8.6.1 Public Sector and Utilities: Market Drivers
8.7 Logistics and Transportation
8.7.1 Logistics and Transportation: Unified Communications as a Service Market Drivers
8.8 Travel and Hospitality
8.8.1 Travel and Hospitality: Market Drivers
8.9 Others
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 North America: Unified Communications as a Service Market Drivers
9.2.2 United States
9.2.3 Canada
9.3 Europe
9.3.1 Europe: Market Drivers
9.3.2 United Kingdom
9.3.3 Rest of Europe
9.4 Asia Pacific
9.4.1 Asia Pacific: Market Drivers
9.4.2 China
9.4.3 Rest of Asia Pacific
9.5 Middle East and Africa
9.5.1 Middle East and Africa: Unified Communications as a Service Market Drivers
9.5.2 Kingdom of Saudi Arabia
9.5.3 Rest of Middle East and Africa
9.6 Latin America
9.6.1 Latin America: Market Drivers
9.6.2 Mexico
9.6.3 Rest of Latin America
10 Competitive Landscape
10.1 Introduction
10.1.1 Visionary Leaders
10.1.2 Dynamic Differentiators
10.1.3 Innovators
10.1.4 Emerging Companies
11 Company Profiles
11.1 Introduction
11.2 RingCentral
11.3 BT
11.4 Verizon
11.5 Orange S.A.
11.6 8x8
11.7 Cisco
11.8 Google
11.9 Microsoft
11.10 LogMeIn Inc.
11.11 Mitel
11.12 DialPad
11.13 Fuze
11.14 StarBlue
11.15 Windstream
11.16 Alcatel-Lucent Enterprise (ALE)
11.17 NTT Communications
11.18 Vonage
11.19 Intrado Corporation (Formerly West)
11.20 Masergy
11.21 Revation Systems
For more information about this report visit https://www.researchandmarkets.com/r/2xgy0m
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