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The Unified Communication-as-a-Service (UCaaS) Market is segmented by End-user Industry (Healthcare, Retail, Manufacturing, Financial Services), and Geography.
Fastest Growing Market:
The global unified communication as-a-service market was valued at USD 5492.02 million in 2019 and is expected to reach a value of USD 21572.39 million by 2025, at a CAGR of 25.67%, during the forecast period 2020 - 2025. Unified Communications (UC), since its launch, has emerged as a cost-effective solution for organizations across various industries, such as BFSI, healthcare, and retail, among others. However, the cloud delivery of the unified communications offered by companies, like Mitel Networks Corporation and IBM, is shaping the way organizations manage their communication networks.
The rapidly increasing adoption of the BYOD trend and other mobility solutions is expected to drive the adoption of UCaaS solutions even further. Bring Your Own Device (BYOD) has emerged as a significant trend in this new era of flexibility and network accessibility for employees working around the globe for various organizations, making the workplace more productive. For instance, According to Cisco, enterprises with a BYOD policy in place saves on average USD 350 per year, per employee.
Further, the ease of adoption of cloud-based technologies has further boosted the adoption of video conferencing among businesses, which is driving the adoption of cloud services for various business needs. Although many enterprise-level unified communications vendors, like Cisco, have offerings in this space, stand-alone and freemium persistent workspace applications are also still being implemented among businesses.
Unified communications-as-a-Service refers to a service model where the provider delivers different telecom or communications applications, software products, and processes generally over the web. The unified communication unifies or integrates all the communication methods used by a business into a single platform or multiple communication tools. The adoption of such services across enterprises belonging to different industry verticals have been analyzed as a part of the study.
|Other end-user Industries|
|Rest of the World|
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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. For instance, companies, such as Node4, announced a new and improved UCaaS platform. This offering is primarily built on a shared architecture, which implies that Node4 customers will benefit from both the customer dedicated platform and a multi-tenant one, allowing smaller organizations to access top-tier collaboration tools, affordably.
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The competitive rivalry in the market between the players is high owing to the presence of some major players like 8x8 inc, Fuze Inc, Verizon, and many more. These companies are able to gain a competitive advantage over the other players due to their ability to bring about innovations by investing heavily in research and developments. The companies entering into strategic partnerships and their mergers and acquisitions have allowed them to occupy a substantial share in the market.
1.1 Study Assumptions & Market Definition
1.2 Study Assumptions
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHT
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Market Drivers
4.4 Market Restraints
5. MARKET SEGMENTATION
5.1 End-user Industry
5.1.4 Financial Services
5.1.5 Other end-user Industries
5.2.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.2.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Mitel Networks Corporation
6.1.2 Ring Central Inc.
6.1.3 8X8 Inc.
6.1.4 Verizon Communications Inc.
6.1.5 Vonage Holdings Inc.
6.1.6 West Corporation
6.1.7 Star2Star Communications LLC
6.1.8 DXC technology
6.1.9 Alcatel Lucent Enterprise International
6.1.10 IBM Corporation
6.1.11 Cisco Systems Inc.
6.1.12 Dialpad, Inc.
6.1.13 Fuze, Inc.
6.1.14 Comcast Corporation( Blue Face Ltd.)
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET