Unified Communications as a Service (UCaaS) Market Analysis

Unified Communications as a Service Market Analysis

With respect to offering type, the telephony segment accounted for more than 25% of the market share in 2021 and is poised to gain significant momentum up to 2030. The telephony offering of UCaaS helps achieve scalability and build a better customer experience across enterprises. The increasing demand to elevate client interaction with improved voice quality in businesses will aid the UCaaS industry expansion.

In terms of meetings, the video conferencing segment amassed significant gains in 2021 and is set to exhibit a growth rate of 25% from 2022 to 2030. The proliferation of remote working trend has necessitated the virtual connection between teams to help them connect and collaborate with tools essential to do their job. Also, the emergence of several collaboration tools, and the integration of advanced features, including chat, live video, real-time audio, and screen sharing, will boost the UCaaS demand for video conferencing meetings.

The large enterprises segment held nearly 70% of the unified communications as a service market revenue share in 2021 and is anticipated to record an appreciable valuation by 2030. The proliferating BYOD (Bring Your Own Device) trend and increased adoption of remote working and work-from-home culture have bolstered the demand for efficient communication in business.

The group communication segment is predicted to register 20% gains through 2030. Rocket fueled by the COVID-19 pandemic, conversational businesses have gained popularity in recent years, bolstering segment growth. Moreover, the growing demand to integrate efficient collaboration and planning across organizations may help group communication make its way through the mainstream in the forthcoming years.

Healthcare application is speculated to account for nearly 20% of the market share by 2030. The ongoing technological advancements in the healthcare industry, resulting in the expansion of digital infrastructure and integration of novel communication tools will facilitate the market expansion. The emerging necessity to establish interconnection among the hospital care teams to enable timely and precise patient diagnosis and treatment may augment the UCaaS market forecast.
 

Regionally, the Europe Unified Communications as a Service market is projected to hold over 20% of the revenue share in 2030. The increasing emphasis on privacy protection and data security in countries such as Germany and France may back the regional growth. In addition, the rapid expansion of the IT and telecom infrastructure across the region has fostered the deployment of UCaaS solutions, generating revenues.