Business communication solutions are one of the most important systems in the corporate world. As consumer technology has evolved, more options and features have hit the market that are changing the way we connect with one another. Because of this, the overall marketplace is set to experience substantial growth in the coming years.
According to a recent forecast from global market research and consulting company MarketsandMarkets, the global Unified Communications as a Service (UCaaS) industry is expected to grow from $2.52 billion in 2013 to $7.62 billion by 2018. That is an estimated compounded annual growth rate (CAGR) of 24.8 percent.
There are various aspects of a successful unified communication solution, like VoIP phone systems, and many of them are also expected to experience increased business. The UCaaS telephone market, for example, is expected to grow from $870 million in 2013 to $2.48 billion by 2018. That is an estimated CAGR of 23.3 percent.
"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 VoIP phone systems and other aspects of a proper unified communication solution, any organization can upgrade the way it connects with employees, customers and vendors.