Unified Communication as a Service (UCaaS) Market Outlook 2021 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis and Share by Forecast 2031


The Unified Communication as a Service (UCaaS) market revenue totalled US$ 19.6 Bn in 2020, according to Future Market Insights (FMI) analysis. Rising at a CAGR of 14.5% between 2021 and 2031, the overall market is expected to reach US$ 85.7 Bn by 2031.

The demand for UCaaS solutions will accelerate with top 5 providers holding around 36.5% of total market in 2020. Newly released data on the UCaaS demand outlook indicates 12.8% y-o-y growth in 2021. Among industry vertical, share held by BFSI sector will remain highest among all. However, the IT & telecom segment will grow at 18.1% CAGR through the assessment period.

Continuous innovation in cloud communication is resulting in greater choice, flexibility, and cost-saving solutions for conferencing in enterprises. In the past few years, the continuous development of cloud communication and investments in digitizing workspaces has increased the demand for remote solutions in enterprises which further is propelling the growth of UCaaS market.

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COVID-19 Impact Analysis on UCaaS Market

The outbreak of coronavirus (COVID-19) has created the need for organizations to adapt today’s fast-paced world where the business continuity is a must. The outbreak of COVID-19 pandemic is marking a rare occasion where business leaders globally have to quickly enable their workforces to work remotely for an extensive period of time.

According to Future Market Insights, the COVID-19 pandemic is expected to accelerate the adoption of cloud computing not just as a technological shift, but also as an operating model as enterprises across the globe acknowledge limitations of their current situation. In response to the COVID-19 pandemic, UCaaS solution providers are taking special measures to meet the customer demand for cloud usage, due to sudden shift to a remote-first workforce.

unified communiction as a service market key countries and vertical mekko chart 2021

“Increasing adoption of cloud-based communication and collaboration tools such as web conferencing, cloud storage, unified messaging and others, especially during lockdown imposed to contain the COVID-19 outbreak is creating opportunities for the UCaaS market. The demand will continue surging as more organizations roll out work from policies to ensure employee safety,” says FMI analyst.

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Key Points Covered in Unified Communication as a Service (UCaaS) Market Survey

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on UCaaS market and how to Navigate
  • Recommendation on Key Winning Strategies

Key Takeaways: UCaaS Market

  • By solution segment, the integrated UCaaS platform/suite is anticipated to account for the leading share in the global UCaaS market during the forecast period. The segment estimated to grow at a robust CAGR of 17.3% through 2031.
  • The demand for UCaaS in small and medium enterprises (SMEs) is expected to rise at maximum pace as these organizations continue adopting UCaaS and cloud based solutions for better ROI.
  • Demand for UCaaS in IT & Telecom and BFSI sector is estimated to grow at an impressive CAGR. Of these, BFSI industry is expected to account for leading share in UCaaS market during the forecast period.
  • North America is expected to lead the market followed by Europe in 2021. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2021 & 2031.
  • The market in Japan is expected to progress at a CAGR of more than 17% through 2031.
  • In the U.K., sales are expected to increase at a CAGR of close to 18% over the next ten years.

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Competitive Landscape

Some of the leading companies operating in the market are:

  • 8×8 Inc.
  • Cisco Systems, Inc.
  • Google LLC
  • Microsoft Corporation
  • LogMeIn Inc.
  • RingCentral, Inc.
  • Mitel Networks Corporation
  • Fuze Inc.
  • Windstream Holdings, Inc.
  • ALE International
  • Verizon Communications Inc.
  • NTT Communications Corporation
  • Vonage
  • Masergy Communications, Inc.
  • Avaya Inc.

UCaaS Outlook by Category

By Solution, UCaaS Solutions are segmented as:

  • Software
    • Integrated UCaaS Platform/Suite
    • Standalone Solutions
      • Audio & Video Conferencing
      • Hosted IP Telephony/VoIP
      • Collaboration Platform
      • Unified Messaging
  • Services
    • Professional Services
      • Integration & Deployment Service
      • Consulting Services
      • Support & Maintenance
    • Managed Services

By Enterprise Size, UCaaS Outlook is segmented as:

  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

By Vertical, UCaaS Demand is segmented as:

  • BFSI
  • IT & Telecom
  • Healthcare
  • Retail & CPG
  • Travel & Hospitality
  • Transportation & Logistics
  • Military & Defense
  • Others
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