DUBLIN--(BUSINESS WIRE)--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.
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.
Growing demand for Unified Communications as a Service (UCaaS) solutions along with the increasing number of SMEs and their demand to streamline the business communications to drive the adoption of UCaaS solutions
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 benefits of the report
- The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall UCaaS market and the subsegments.
- This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.
- The report would also help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.4 Years Considered for the Study
1.5 Currency Considered
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Research Methodology
2.5.1 Vendor Inclusion Criteria
2.6 Assumptions for the Study
2.7 Limitations of the Study
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
5.2 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
6.3 Unified Messaging
6.5 Collaboration Platforms and Applications
7 Unified Communications as a Service Market By Organization Size
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Unified Communications as a Service Market By Vertical
8.2 Banking, Financial Services, and Insurance
8.3 Telecom and IT
8.4 Consumer Goods and Retail
8.6 Public Sector and Utilities
8.7 Logistics and Transportation
8.8 Travel and Hospitality
9 Geographic Analysis
9.2 North America
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America
10 Competitive Landscape
10.1.1 Visionary Leaders
10.1.2 Dynamic Differentiators
10.1.4 Emerging Companies
11 Company Profiles
11.5 Orange S.A.
11.10 LogMeIn Inc.
11.16 Alcatel-Lucent Enterprise (ALE)
11.17 NTT Communications
11.19 Intrado Corporation (Formerly West)
11.21 Revation Systems
For more information about this report visit https://www.researchandmarkets.com/r/hqjydm