Global Ucaas Industry to Derive Demand from Increasing Penetration of Global Mobile Devices Market

The unified communication as a service market, commonly known as UCaaS, is a thriving market drawing a lot of attention from developers as well as enterprises operating in the IT industry. UCaaS is a constantly updated, highly standardized, pre-integrated, and ready-to-go service that improves the productivity of the client and stimulates business and decision-making procedures while decreasing costs. This service is estimated to be one of the major factors to drive the unified communications industry. Additionally, hosted access is making unified communications accessible for a broad array of enterprises.

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The demand for UCaaS solutions is growing globally due to the increasing penetration of mobile devices across the globe. The rising demand for enterprise mobility and mobile workforces, added to the multiple advantages of UCaaS solutions, is also promoting the adoption of these solutions worldwide.

In contrast, SMEs/SMBs are less interested in adopting UCaaS owing to the lack of awareness about it. However, the rising utilization of collaborative applications such as IM, voicemail, and unified messaging is projected to bolster the demand for UCaaS solutions in the coming years. This market is likely to expand at a CAGR of 23.4% between 2014 and 2022 to reach US$37.85 billion by the end of 2022.

Development in Hosted UCaaS Model and Telephony Services to Support Growth of Global UCaaS Market

In 2013, the on-premise UCaaS solutions industry dominated the deployment-based UCaaS market. It is predicted to hold leadership by 2022. However, the shift from on-premise to hosted unified communication models is expected to be the driving trend behind the growth of the unified communication industry in the future. Apart from this, the rising total cost of ownership is expected to hinder the growth of the on-premise UCaaS solutions market.