Study: UCaaS market to reach $7.62 billion by 2018
The unified communication marketplace has taken major strides in recent years as the technology that backs the systems continues to evolve. More businesses are starting to take advantage of it and it appears that we are just at the beginning,
A recent press release from MarketsandMarkets examined the Unified Communications as-a-service (UCaaS) market. According to the numbers, the industry is expected to grow from $2.52 billion in 2013 to $7.62 billion by 2018. That is an estimated compound annual growth rate (CAGR) of 24.8 percent over that five year time frame.
On top of that, the UCaaS telephone market is expected to be the most used aspect of the service. It is expected to grow from $870 million to $2.48 billion over the same time frame, which is a CAGR of 23.3 percent.
The release goes on to say that many organizations across all sectors are using UCaaS for different reasons including the cloud, web and video conferencing, messaging and presence in the digital realm.
"Enterprises want to deploy UCaaS on their existing infrastructure," the article reads. "This results in hybrid UCaaS, which allows many cloud providers to integrate their services with UCaaS service providers. 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 lucrative market for the vendor ecosystem."
With the help of an IT consulting firm that specializes in UCaaS and business communication systems, any organization can take steps toward successfully implementing these solutions.