PUBLISHER: Grand View Research | PRODUCT CODE: 1404939
PUBLISHER: Grand View Research | PRODUCT CODE: 1404939
Unified Communication As A Service Market Size, Share & Trends Analysis Report By Deployment (Public Cloud, Private Cloud), By Industry Vertical (Education, Healthcare, BFSI, Hospitality, Real Estate), By Region, And Segment Forecasts, 2023 - 2030
Unified Communication As A Service Market Growth & Trends:
The global unified communication as a service market size is expected to reach USD 262.37 billion by 2030, registering a CAGR of 20.4% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the increased demand for cloud-based collaboration tools with multiple communication features and cross-functioning across enterprises. The increasing adoption of remote working models, especially amid the pandemic, has significantly contributed to the market growth.
In August 2023, RingCentral Inc. launched RingCX, a built-in, intelligent contact center, and readily deployable solution that seamlessly integrates RingCentral's core unified communications features (encompassing messaging, video, phone, SMS, and fax) with contact center functionalities, along with the power of generative AI.
The market is witnessing significant growth on account of the ongoing technological developments introduced by the market players. Artificial intelligence (AI) is being increasingly used for automating routine communication processes. There are several use cases of AI in the market, such as speech-to-text, real-time translation, real-time transcription, smart framing for video, etc. These are some of the high-utility applications that are not supported by the conventional systems of unified communications.
The solution providers are now adopting AI and Augmented Reality (AR) to support teams working remotely, thereby reducing the dependence on in-office teams. This trend facilitates the development of the latest features comprising voice intelligence, post-call summaries, and live call sentiment analysis. Another crucial technological development favoring the market growth is the expansion of 5G infrastructure, as it offers several benefits to the users that improve their communication and collaboration experience. It supports Ultra-High-Definition (UHD) video and voice calls, allows users to access their cloud services from anywhere with optimum performance, and facilitates the development and integration of new functionalities, such as AI, AR, VR, and IoT, in the systems.
As organizations are dispersed across different geographies, they require robust collaboration tools to increase their productivity. In this regard, the systems are expected to emerge as an effective tool as they offer scalability, allowing companies to quickly add new features and integrate them with the existing enterprise applications. Besides, the solutions now come with analytics tools that provide insights into call durations, communication patterns, response times, etc. The advent of such new features and integration with advanced technologies is expected to accelerate digital transformation strategies in organizations, creating remunerative opportunities for the market.
Several market players are focusing on introducing solutions integrated with AI to cater to consumer demands effectively. For instance, in August 2023, Google LLC launched Duet AI assistant across its Workspace apps, comprising Gmail, Slides, Drive, Docs, etc. This new AI tool comes with various innovative features. It can turn Google Docs outline into Slides or create a chart using the data in a spreadsheet. Duet can also serve as a creative tool by allowing users to write an email response, check grammar, and generate images. It also provides AI-based lighting and sound tweaks, as well as automated meeting summaries.
Unified Communication As A Service Market Report Highlights:
- Based on deployment, the public cloud segment accounted for the highest market share in 2022. The growth can be attributed to the rise in the IoT, edge computing, growing use of real-time analytics, rise in consumption of big data, and increasing digital transformation among end-use industries such as BFSI, IT & telecom, and manufacturing, among others
- Based on industry vertical, the healthcare segment accounted for the largest market share in 2022. Leveraging UCaaS technologies such as messaging, video conferencing, and cloud-based telephony can access critical healthcare data in real time. Governments of several regions are testing telemedicine to provide affordable remote patient care, providing opportunities for UCaaS providers
- UCaaS solutions integrate with top third-party healthcare applications, allowing for compliant data sharing. This allows providers to securely share and update Electronic Health Records (EHRs) from anywhere
- The integration of various communication channels, such as voice, video, and messaging, into a single platform to improve productivity and streamline communication across businesses has created ample growth opportunities for unified communication as a service industry
Table of Contents
Chapter 1 Methodology And Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope And Assumptions
- 1.4.1 List Of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot (1/2)
- 2.3 Segment Snapshot (2/2)
- 2.4 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.2 Industry Value Chain Analysis
- 3.3 Market Dynamics
- 3.3.1 Market Driver Analysis
- 3.3.2 Market Restraint Analysis
- 3.3.3 Market Opportunity Analysis
- 3.4 Industry Analysis Tools
- 3.4.1 Porter's Analysis
- 3.4.2 Macroeconomic Analysis
- 3.5 Unified Communication as a Service Market - Covid-19 Impact Analysis
- 3.6 Unified Communication as a Service Market - Technology Landscape
Chapter 4 Deployment Estimates and Trend Analysis
- 4.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Billion)
- 4.2 Deployment Movement Analysis & Market Share, 2022 & 2030
- 4.3 Unified Communication as a Service Market Estimates & Forecast, By Deployment (USD Billion)
- 4.3.1 Public Cloud
- 4.3.2 Private Cloud
Chapter 5 Industry Vertical Channel Estimates and Trend Analysis
- 5.1 Market Size Estimates & Forecasts and Trend Analysis, 2018 - 2030 (USD Billion)
- 5.2 Industry Vertical Movement Analysis & Market Share, 2022 & 2030
- 5.3 Unified Communication as a Service Market Estimates & Forecast, By Industry Vertical (USD Billion)
- 5.3.1 Automotive
- 5.3.2 Education
- 5.3.3 Healthcare
- 5.3.4 Bfsi
- 5.3.5 Hospitality
- 5.3.6 Real Estate
- 5.3.7 Legal
- 5.3.8 It & Telecom
- 5.3.9 Others
Chapter 6 Regional Estimates & Trend Analysis
- 6.1 Unified Communication as a Service Market By Region, 2022 & 2030
- 6.2 North America
- 6.2.1 North America Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.2.2 U.S.
- 6.2.2.1 U.S. Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Biilion)
- 6.2.3 Canada
- 6.2.3.1 Canada Unified Communication as a Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3 Europe
- 6.3.1 Europe Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.2 Germany
- 6.3.2.1 Germany Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.3.3 UK
- 6.3.3.1 UK Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4 Asia Pacific
- 6.4.1 Asia Pacific Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.2 China
- 6.4.2.1 China Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.3 India
- 6.4.3.1 India Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4 Japan
- 6.4.4.1 Japan Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4 South Korea
- 6.4.4.1 South Korea Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4 Australia
- 6.4.4.1 Australia Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4 New Zealand
- 6.4.4.1 New Zealand Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5 Latin America
- 6.5.1 Latin America Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.2 Brazil
- 6.5.2.1 Brazil Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.3 Mexico
- 6.5.3.1 Mexico Unified Communication as a Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6 Middle East & Africa (MEA)
- 6.6.1 MEA Unified Communication As A Service Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
Chapter 7 Unified Communication As A Service - Competitive Landscape
- 7.1 Key Participants
- 7.1.1 8x8 Inc.
- 7.1.2 Ale International
- 7.1.3 Avaya Llc
- 7.1.4 Cisco Systems Inc.
- 7.1.5 Fuze Inc.
- 7.1.6 Ibm Corporation
- 7.1.7 Mitel Network Corporation
- 7.1.8 Nec Corporation
- 7.1.9 Ringcentral Inc.
- 7.1.10 Verizon
- 7.2 Recent Development & Impact Analysis, By Key Market Participants
- 7.3 Company Categorization
- 7.4 Participant's Overview
- 7.5 Financial Performance
- 7.6 Product Benchmarking
- 7.7 Company Heat Map Analysis
- 7.8 Company Market Positioning
- 7.9 Company Market Share Analysis, 2022
- 7.10 Strategy Mapping
- 7.10.1 Partnership
- 7.10.2 Merger & Acquisition
- 7.10.3 New Product/Feature Launch
- 7.10.4 Expansion
- 7.10.5 Contracts
List of Tables
- Table 1 Key market driver impact
- Table 2 Key market restraint/challenge impact
- Table 3 Key market opportunity impact
- Table 4 Global Unified communication as a service market revenue estimates and forecast, by deployment, 2018 - 2030 (USD Billion)
- Table 5 Global Unified communication as a service market revenue estimates and forecast, by industry vertical, 2018 - 2030 (USD Billion)
- Table 6 Company heat map analysis
- Table 7 Key companies undergoing partnerships
- Table 8 Key companies involved in merger & acquisition
- Table 9 Key companies involved in new product/feature launch
- Table 10 Key companies involved in expansions
List of Figures
- Fig. 1 Unified Communication as a Service Market Segmentation
- Fig. 2 Information procurement
- Fig. 3 Data analysis models
- Fig. 4 Market formulation and validation
- Fig. 5 Data validating & publishing
- Fig. 6 Market snapshot
- Fig. 7 Segment snapshot (1/2)
- Fig. 8 Segment snapshot (2/2)
- Fig. 9 Industry snapshot
- Fig. 10 Unified communication as a service market value, 2022 & 2030 (USD Billion)
- Fig. 11 Value chain analysis
- Fig. 12 Market dynamics
- Fig. 13 Number of subscriptions for 5G across the globe, (Million units)
- Fig. 14 Year-on-year enterprise public cloud adoption
- Fig. 15 Unified communication as a service market: PORTER's analysis
- Fig. 16 Unified communication as a service market: Macroeconomic analysis
- Fig. 17 Unified communication as a service market, by deployment, key takeaways, 2018 - 2030 Revenue (USD Billion)
- Fig. 18 Unified communication as a service market, by deployment: market share, 2022 & 2030
- Fig. 19 Public Cloud market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 20 Private Cloud market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 21 Unified communication as a service market, by industry vertical, key takeaways, 2018 - 2030 Revenue (USD Billion)
- Fig. 22 Unified communication as a service market, by industry vertical: market share, 2022 & 2030
- Fig. 23 Automotive market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 24 Education market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 25 Healthcare market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 26 BFSI market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 27 Hospitality market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 28 Real Estate market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 29 Legal market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 30 IT & Telecom market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 31 Others market estimates & forecasts, 2018 - 2030 (USD Billion)
- Fig. 32 Unified communication as a service market by region, 2022 & 2030, Revenue (USD Billion)
- Fig. 33 Regional marketplace: Key takeaways
- Fig. 34 Regional marketplace: Key takeaways
- Fig. 35 North America unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 36 U.S. unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 37 Canada unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 38 Europe unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 39 Germany unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 40 UK unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 41 Asia Pacific unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 42 China unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 43 India unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 44 Japan unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 45 Latin America unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 46 Brazil unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 47 Mexico unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 48 MEA unified communication as a service market estimates & forecast, 2018 - 2030 (USD Billion)
- Fig. 49 Key company categorization
- Fig. 50 Company Market Positioning
- Fig. 51 Company Market Share Analysis
- Fig. 52 Strategy framework
