Global unified communication as a services (UCaaS) market is expected to grow at significantly high CAGR of 24% for the forecasted period of 2016-2021. UCaaS market is segmented on the basis components, organization size and vertical. UCaaS has been able to reduce the cost of organization by bringing in different services under one cloud. UCaaS is reducing the communication cost for small and medium business enterprises. UCaaS combines different sorts of communication into a single network. Easy pricing, lower cost of ownership and after sale services provided by vendors are driving the market. UCaaS’s potential to provide seamless communication will drive the future market growth.
UCaaS components include conferencing, messaging, voice and telephony, client, collaboration platforms and applications. UCaaS market is also segmented on the basis of organisation size. At present small and medium size business are the main target market for UCaaS. There are issues with compatibility and reliability in large organizations.
Regionally, North America is the largest market followed by Europe and Asia Pacific. Europe will be fastest growing market, marginally ahead of Asia Pacific.