Unified Communication as-a-Service in Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The unified communication-as-a-service in energy market is anticipated to register a CAGR of 10% over the forecast period (2021 - 2026). Companies are investing in improved communications versatility using cloud-based Unified Communications as a Service of third-party vendors that don't require extra human resources. A growing number of organisations in the energy sector are migrating to UCaaS, also known as hosted PBX, instead of investing time and energy into maintaining an on-premise PBX.

• The UCaaS technology is helping vendors leverage features than what traditional VoIP and SIP services offer. This technology helps increase availability and scalability while enhancing collaboration. UCaaS solutions are designed to allowing enterprises to focus on the growth of their business rather than the maintenance of it.
• The factors primarily drivinf the market growth are quickly developing industry infrastructure, increased product commercialisation, and growing demands of the Unified Communication-as-a-Service in Energy as industry players realise that it can significantly contribute in international revenue generation.

Scope of the Report

Unified communications as-a-service delivers synchronized business communications technologies on a single cloud-based platform. Service providers utilize VOIP and IP telephony technology to equip traditional business phone systems with instant messaging, video conferencing and related web services. The enterprise communication advantages that UCaaS offers include improved collaboration across teams, quick deployment, scalability, and a reduced total cost of ownership.

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Key Market Trends

Proliferation of Cloud Based Ecosystem to Drive the Market Growth

• The companies are increasingly making essential files and data accessible through cloud, which in turn has led to the proliferation of the BYOD trend. The energy companies are also following suit, and given the globalised nature of their business, remote access of data becomes an important feature for this industry. With the increasing cuts on Oil prices by OPEC and falling revenues, enterprises are searching for ways that cut down on expenses and has the potential to generate internal revenues.
• Encouraging employees to use their own devices is an efficient way of adding capacity to your IT infrastructure. BYOD enables employees to work away from the office while still being able to access the system over the internet by accessing data and files they need. For example, Team Sites, which comes with Office 365,  allows employees to improve collaboration while in different locations, editing documents simultaneously and taking part in online conferences.
• A new report from iPass, a commercial Wi-Fi network service provider, indicates that 70 per cent of mobile workers adapt their companies' bring your own device (BYOD) policies. For some, BYOD is a must. This trend will also get increasingly reflected in the energy industry, as the lines between office and private spaces get blurred.

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