Unified Communication as a Service (UCaaS) Market to grow worth 28.69 Billion USD by 2021

[144 Pages Report] MarketsandMarkets forecasts the global Unified Communication as a Service (UCaaS) market to grow from USD 17.35 Billion in 2016 to USD 28.69 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.6% from 2016-2021.

(EMAILWIRE.COM, January 22, 2019 ) According to recent research "Unified Communication as a Service Market by Component (Telephony, Unified Messaging, Conferencing), Organization Size (Small, Medium, and Large), Industry (BFSI, Telecom & IT, Consumer Goods & Retail), and Region - Global Forecast to 2021", The UCaaS market size is expected to grow from USD 17.35 Billion in 2016 to USD 28.69 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period.

Browse 71 market data Tables and 56 Figures spread through 144 Pages and in-depth TOC on "Unified Communication as a Service (UCaaS) Market"

Early buyers will receive 10% customization on this report.

The major drivers of this market include low cost of ownership as compared to other communications tools, pay-per-use model of charging the end users, growing trends towards mobility and Bring Your Own Device (BYOD), integration of all communicating services at a single platform, increasing demand by SMBs, and continuous service support.

Telephony segment is expected to hold the largest market share during the forecast period

The capability of integrating multiple functions of communication on one platform makes telephony an important tool from the business perspective. Telephony is expected to hold the largest market share owing to its compatibility with automated transmissions of voice, fax, or other information. The increasing demand of VoIP and IP telephony in BFSI, telecom & IT, logistic & transportation, and travel & hospitality industries acts as a major driving factor for the growth of telephony in the UCaaS market.

Get 10% Customization@
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=893

Consumer goods and retail vertical is expected to dominate the UCaaS market during the forecast period

The UCaaS market is also segmented into various industry verticals, out of which the adoption of unified communication solutions is expected to be the largest in the consumer goods and retail vertical as it helps retail outlets to streamline the business processes by enabling quick, real-time services and faster transaction closures. Moreover, BFSI, logistic & transportation, and IT & telecom verticals are expected to gain traction during the forecast period.

North America is expected to hold the largest market share in the UCaaS market

North America is expected to hold the largest market share and dominate the UCaaS market from 2016 to 2021. The main drivers responsible for the growth of UCaaS services in North America are the stable economy, technological advancements, and unified communication infrastructure demands. The UCaaS market in APAC is expected to witness highest the growth in the coming five years due to increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India and China.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, business expansions, and product developments, adopted by major players to increase their market share. Some of the major service providers include Cisco Systems (U.S.), Computer Science Corporation (U.S.), BT Group (U.K.), 8x8 (U.S.), West Corporation (U.S.), Microsoft Corporation (U.S.), Voss Solutions (U.S.), Verizon Communication (U.S.), Star2star Communications (U.S.), and Polycom (U.S.).

Request Bundle Report@
https://www.marketsandmarkets.com/RequestBundleReport.asp?id=893

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.