Market Trends of UCaaS in the Manufacturing Industry
This section covers the major market trends shaping the UCaaS Manufacturing Market according to our research experts:
Increasing Government Initiative to Influence the Market
- According to Symphony RetailAI, 28% of retailers cited the growing dependence on parallel shippers to achieve faster fulfillment to consumers as challenges they face about their supply chain management. The adoption of UCaaS during such a process would lead to proper communication among them which would result in faster delivery of the products.
- In March 2019, Unified-communications-as-a-service provider Fuze has partnered with Samsung Electronics America Inc. to provide mobile UCaaS for remote and distributed workers. This partnership is expected to impact positively on the market.
- Moreover, factory-floor personnel is taking advantage of the BYOD policy by taking advantage of the convenience of mobile phones and tablet computers is driving the market. Implementing UCaaS will lead to integrating voice, text, and video on a single, mobile device, and one simple user interface would help in increasing productivity among the organizations.
- Additionally, government initiatives such as Made in China 2025, which aim to make China dominant in the global high-tech manufacturing sector is influencing other regions which in return is driving the market. This initiative is focused on manufacturing electric cars and other new energy vehicles, next-generation information technology (IT) and telecommunications, and advanced robotics and artificial intelligence and are expected to drive the unified communication-as-a-service in the manufacturing market.
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Asia- Pacific to Witness the Fastest Growth
- Asia-Pacific is expected to witness fastest growth owing to the presence of worlds's manufacturing hub i.e. China and other big economies such as India and Japan.
- Further, the introduction of new technologies like 5G is expected to drive the UCaaS market in the region. The increasing trial of launching 5G in different cities by China and Japan with a view to creating smart factories that would boost the UCaaS market positively.
- Moreover, the vendors are expanding their geographical presence in the region by implementing a strategic partnership or merger and acquisition is further driving the market.
- For instance, in July 2019, 8x8, Inc, announced the acquisition of privately-held Wavecell Pte. Ltd., a Singapore-based global Communications Platform-as-a-Service (CPaaS) provider. The acquisition expands 8x8’s presence into the rapidly growing Asian market, including Singapore, Indonesia, Philippines, Thailand, and Hong Kong.
- Additionally, Indian government initiative such as Make in India which is encouraging companies to manufacture their products in India and enthuse with dedicated investments into manufacturing is providing an opportunity for the market to grow exponentially.
- Therefore, all the factors are expected to complement the growth of the unified communication-as-a-service in manufacturing market in the region.
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