Managed Communication Services Market Size

Managed Communications Services Market Analysis

The managed communication services market is expected to register a CAGR of 13.51% during the forecast period of 2021-2026. Managed service providers can optimize communication systems and offer enormous value at a comparatively low cost. Managed communication services are experiencing increasing demand due to the penetration of technologies, such as mobility, cloud computing, and big data across different industry verticals.

• Unified communications have emerged as a cost-effective solution for businesses across industries, such as healthcare, BFSI, and retail. The unified communications market has historically revolved around individual products. In the past, companies chose individual products to meet particular needs. For example, organizations bought email servers for messaging, team rooms for teamwork, portals for organizational information sharing, and PBX and voicemail for telephony services. Now, customers are making strategic technology decisions to deploy unified communications and collaboration environments based on the capability and integration of the collaboration stack.
• Vendors are undergoing various partnerships, proving to augment the market growth. For instance, In July 2021, Synoptek has announced the purchase of Juxto's direct real-time communications (RTC) business clients and the establishment of a Real-Time Communications Practice combining Synoptek and Juxto capabilities. Synoptek's global experience as an IT integrator, combined with Juxto's North American Carrier-Grade network purpose-built for Teams Voice delivery, provides a voice communication solution that meets and surpasses the most stringent client requirements.
• CenturyLink's new Engage portfolio will provide medium-sized organizations with cloud-based phone and communications services. CenturyLink's Engage solution enables organizations to take advantage of the benefits of cloud-based communications services by leveraging either their own or CenturyLink's connectivity or both. Business clients in all 50 states can use the service right now.
• Remote work mandates caused by COVID-19 are creating an unprecedented opportunity for service providers to promote software-based communications as a key enabler of business continuity and demonstrate the flexibility of communication services in terms of capacity adjustments and services delivery (irrespective of location). This trend is expected to support market growth. Voxbone recently published a report highlighting the virus's impact on its network. According to the study, COVID-19 has pushed a massive increase in demand for cloud communications as businesses look for ways to reduce the threats of things, such as group gatherings and the work commute.