Market Trends of Managed Communication Services Industry
This section covers the major market trends shaping the Managed Communication Services Market according to our research experts:
VoIP occupies Significant Share
- The rapidly increasing adoption of the Bring Your Own Device (BYOD) trend and other mobility solutions is expected to drive the adoption of communication solutions, such as VoIP, even further. BYOD has emerged as a significant trend in this new era of flexibility, and network accessibility for employees working around the world for various organizations, making the workplace more productive as IT and other industries are investing in strengthening the infrastructure. According to Cisco, enterprises with a BYOD policy in place save on average USD 350 per year per employee.
- According to HubSpot, Inc., AI will continue to grow in strength as a VoIP trend for 2021. VoIP service providers will be better at identifying and assigning incoming communications depending on agent proficiency, urgency, and skill set. Some AI can even identify inauthenticity in a person's voice and prevent fraud using biometric indicators. According to Nuance, it delivers anti-fraud speech measures to 85 percent of Fortune 500 organizations as part of a larger fraud detection system, which uses a collection of known fake voices.
- However, In recent years, security breaches using VoIP have made front-page news. For example, a cyberattack targeted several high-profile WhatsApp accounts, which might install malware onto their phones — and take data — just by contacting them. They didn't even have to pick up the phone, and the calls frequently went unnoticed in the phone's record.
- VoIP services being increasingly integrated with larger sales and support stacks is one of the most prominent VoIP trends for 2021. When deciding on the finest VoIP service for your company, consider how the platform will integrate with your other products.
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Europe is Expected to Witness Significant Growth
- The major driving factor for the market growth in Europe is the increasing use cases of UC&C in the retail industry. The UK retailers are looking to attract customers to interact with them in-store so that they keep coming back. To do this, they need to provide a convenient and frictionless in-store experience, with the added advantage of knowledgeable sales staff that can explain product offerings and the number-one preference of in-store shoppers, ahead of ambiance, which is propelling the adoption of communication services.
- The United Kingdom has witnessed a potential growth in the retail industry with major players, like 8x8, a US-based company, which is one of the largest UCaaS providers comprising more than 1 million users, expanded significantly in the European market after it made two acquisitions of the UK-headquartered enterprises.
- The country’s carriers’ efforts to discontinue the integrated services digital network services are driving the carrier and customer migration to Internet protocol connectivity services. This huge shift is driving the adoption of next-generation business communication solutions, such as hosted private branch exchange (PBX) and UCaaS solutions.
- The market is also witnessing partnerships, which is helping to increase the awareness of the solutions. In July 2020, Atos transferred a portion of its unified communications and collaboration activities in Belgium, Luxembourg, Sweden, and Finland to Damovo, a leading provider of ICT-managed services and solutions. The partnership enables a faster response to the increasing demand for innovative UC solutions in the enterprise sector and is part of Atos’ global ambition to grow its market share for its UCC portfolio through indirect channel partners.
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