Unified Communication As A Service Market Size, Share & Trends Analysis Report By Deployment (Public Cloud, Private Cloud), By Industry Vertical (Automotive, Education, Healthcare), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global unified communication as a service market size was estimated at USD 47.64 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of around 20.6% from 2022 to 2030. Enterprises are using multiple communication features and enable cross-functioning to provide efficient collaboration. The increasing trend of work from home model is compelling employers to use UCaaS solutions as it's beneficial for enterprises to reevaluate their operational costs and protect their marginal revenue from dwindling. Implementing UCaaS with artificial intelligence makes manufacturers achieve their digital transformation goals. It enables to help the organization to track speakers intelligently, intuitively record calls, understand users' needs, and offer relevant services. AI-enabled UCaaS solutions support the organization to strategize accordingly regarding their decisions, reviews, and comments directly related to their brands, products, and services.

The adoption of video conferencing in the wake of the pandemic is boosting market usage, as the user base is shifting to virtual meetings, which are possible due to video conferencing and communication services provided by companies such as Microsoft Corporation, Cisco Systems, and Zoom Video Communication Inc. Video conferencing gives the user a friendly environment and makes interpersonal relationships and facilitates more efficient decision-making during meetings and conferences.

The introduction of 5G technology and high-speed internet is expected to boost the market in the forecast period, as video and audio conferencing needs high speed and low latency in the connection, which is easily provided by the 5G network. Increasing demand regarding real-time communication has allowed vendors to offer Web RTC solutions, which provide faster video streaming and chats in client devices. Intelligent chatbots and predictive intelligence features enable skills by AI and machine learning, allowing the business to have better communication and an improved experience of working remotely.

Deployment Insights

The public cloud segment accounted for the largest revenue share, around 73% in 2021, as it helps in reduction to the lead times in the testing and deployment of the product and offers the opportunity to deploy the UC platform on the scale of subscription-based and scalable. It helps the organization to shift their preference from traditional communication practices to the new modern UCaaS technologies, which are more advanced and efficient.

The private cloud segment is expected to show significant growth during the forecast period as it provides greater customization, and companies often subscribe to the solutions according to their needs or requirements. UCaaS solution in the private cloud offers benefits to the organization for 24/7 support service, guaranteeing a more secure and personalized experience. Companies also provide the subscription as the base of their client requirement, shifting their preference to private cloud base deployment.

Industry Vertical Insights

IT and Telecom segment is anticipated to prosper in the market in 2021 owing to having a market revenue share of around 18%; IT and telecom companies are collaborating with global distributors and teaming up to deploy the UCaaS solution efficiently. As IT and telecom have to deal with government departments and federal organizations to provide them with secure calling and efficient exchange of information, this grows the need for data security, and privacy protection is driving the UCaaS solution provided by the IT and telecom companies.

The healthcare segment is expected to showcase significant gains in revenue growth by 2030 as the patients require efficient communication with the officials and caregivers for better care. The adoption of UCaaS in healthcare technology, including with NHS (National Health Service), encourage manufacturers and healthcare provider to deploy technological advancement in the organizations.

Regional Insights

North America is the dominant region in the unified communication as a service market, accounting for a revenue share of around 31% in 2021. It is becoming the most lucrative region as various players are finding it more effective to adapt to work from home, and bringing your own device has become the critical factor for the market's growth.

Asia Pacific is expected to be the fastest growing region in the forecast period following the footsteps of North America, owing to the continuous digitization and a growing mobile workforce, as the area is growing in the field of technology due to increasing penetration of 4G and 5G technology and also by developing several multinational companies operating in the region which brings the demand for UCaaS. Organizations are evolving through new technology by becoming the hub for artificial intelligence, and there is a considerable growth for organization that provides AI related services related at a global scale.

Key Companies & Market Share Insights

Key players in the market, having intensified competition and growth in customer expectations, are creating a storm for using unified communication as a service, which is becoming a solution provider to build up customer engagement innovatively. Manufacturers are bringing AI capabilities with UCaaS technology which helps them to improve their product portfolio and service offerings.

Manufacturers are offering new products and emphasis on product innovations to generate revenue as they are started to offer Communication Platform as a Service (CPaaS) to their consumers, which helps them to connect people with services, processes, and applications. Some of the key players in the unified communication as a service market:

• 8x8 Inc.

• ALE International

• Amazon.com Inc.,

• Avaya Inc.

• CenturyLink Inc.

• Cisco Systems Inc.

• Fuze Inc.

• IBM Corporation

• Mitel Networks Corp.

• NEC Corporation

• RingCentral, Inc.

• Verizon Communications Inc.

Unified Communication As A Service Market Report Scope

Global Unified Communication As A Service Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global unified communication as a service market report based on deployment, industry vertical, and region:

• Deployment Outlook (Revenue, USD billion, 2018 - 2030)

  • Public Cloud

  • Private Cloud

• Industry Vertical Outlook (Revenue, USD billion, 2018 - 2030)

  • Automotive

  • Education

  • Healthcare

  • BFSI

  • Hospitality

  • Real Estate

  • Legal

  • IT & Telecom

  • Others

• Regional Outlook (Revenue, USD billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa