Global Unified Communication As A Service Market

Unified Communication as a Service Market Size, Share, Growth Analysis, By Deployment(Public Cloud, and Private Cloud), By Industry Vertical(Automotive, Education) - Industry Forecast 2024-2031

Report ID: SQMIG45D2084 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 68 | Figures: 75

Unified Communication as a Service Market News

  • In February 2022, Evolve IP, a leading international provider of Work Anywhere remedies, announced a collaboration with Webex, a major supplier of cloud-based communication solutions, to build Evolve all places with Webex, Grow IP's latest unified communication solution.
  • In April 2022, 8x8, Inc., a leading provider of unified communication solutions, and Genesys, a global cloud leader in customer service orchestration, have introduced an 8x8 Working with Genesys Cloud CX solution combination. With the new connection, businesses can quickly align agents and subject-matter specialists to collaborate for better customer results.
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Unified Communication As A Service Market size was valued at USD 47.64 Billion in 2021 and is poised to grow from USD 58.45 Billion in 2022 to USD 262.37 Billion by 2030, at a CAGR of 20.6% during the forecast period (2023-2030).

Key market players are creating a stir for employing unified interaction as an assistance, which has grown into a provider of solutions to build up client loyalty innovatively, due to increased rivalry and growth in consumer demands. Manufacturers are integrating AI capabilities into UCaaS technologies to boost their product line and service offerings. 'Microsoft Corporation', 'Cisco Systems, Inc.', 'RingCentral, Inc.', 'Zoom Video Communications, Inc.', 'Mitel Networks Corporation', '8x8, Inc.', 'Avaya Holdings Corp.', 'Fuze, Inc.', 'Vonage Holdings Corp.', 'Google LLC (Google Meet)', 'Fuze, Inc.', 'BroadSoft (now part of Cisco)', 'LogMeIn, Inc. (GoToConnect)', 'Alcatel-Lucent Enterprise', 'NEC Corporation', 'Fuze, Inc.', 'Unify, Inc. (Atos SE)', 'Verizon Communications Inc.', 'BT Group plc', 'AT&T Inc.'

The rise of remote work and distributed teams has increased the demand for UCaaS solutions. These solutions provide seamless communication and collaboration tools, such as voice and video conferencing, instant messaging, file sharing, and virtual meeting rooms, enabling effective collaboration regardless of geographical locations.

Cloud-Based Solutions: The shift towards cloud-based UCaaS solutions continues to gain momentum. Organizations are embracing cloud-based models to leverage the benefits of scalability, flexibility, and reduced infrastructure costs. Cloud-based UCaaS solutions also enable seamless remote access and collaboration from anywhere, supporting the growing trend of remote work.

North America dominates the unified communication as a service market, accounting for around 31% of total revenue. It has grown into the most profitable region because different players discover that working from home is more effective, and carrying a smartphone or tablet has grown into a vital aspect in the market's growth.

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