Unified Communications-as-a-Service (UCaas) might be a good business to get into in the coming years.
The global UCaaS market is expected to grow from $2.52 billion in 2013 to $7.62 billion by 2018, at an estimated compound annual growth rate (CAGR) of nearly 25 percent. That’s one finding in a new study from MarketsandMarkets, which analyzes the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.
MarketsandMarkets, a global market research and consulting company, says the global UCaaS market will be driven by the emergence of video technology and collaboration solutions, although telephony will be the most used technology for the years to come. The global UCaaS telephony market is expected to grow from $870 million this year to $2.48 billion by 2018. That’s a CAGR of more than 23 percent.
The UCaaS collaboration application market revenue is expected to grow from $541 million in 2013 to $1.75 billion by 2018 that’s up more than 26 percent per year. Companies across all sectors are using UCaaS, cloud based unified communication which integrates Web conferencing, video conferencing, messaging, VoIP and presence over cloud that helps to decrease front-load capital costs as they are offered on a per-seat basis, enabling businesses to scale communications easily and effectively, thereby reducing travel time and leaner business processes.
Enterprises want to deploy UCaaS on their existing infrastructure. This results in hybrid UCaaS, which allows many cloud providers to integrate their services with UCaaS service providers, MarketsandMarkets found. Companies are shifting from on-premise to cloud-based UC, which is largely driving adoption. With enterprise mobility on the rise, the opportunity for UCaaS can prove to be a lucrative market for the vendor ecosystem.
The report names Avaya, Cisco, Microsoft, Alcatel-Lucent, PanTerra Networks, Interactive Intelligence, Siemens Enterprise Communications, Mitel, CSC and NEC as major players in the UCaaS market.
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