UCaaS Market Set for Explosive Three-Year Growth
A new study just released on the worldwide Unified Communications as a Service (UCaaS) market shows that all signs are pointing to the UCaaS industry growing rapidly, as both telephony and non-telephony service providers compete for enterprise mindshare.
The report, from Wainhouse Research, projects the market to hit a worth of about $5.3 billion by 2018, and further foresees a five-year CAGR of 24 percent. Much of that growth will be in the mid to large enterprise segment.
"There's a growing preference for cloud-based services, particularly in mid-to-large enterprises, and UCaaS is riding that demand," said Bill Haskins, Wainhouse Research Senior Analyst & Partner. "Putting unified communications in the cloud makes great economic sense: the infrastructure is there, the support mechanisms are in the place, the training program is ready. Plus, fewer IT and purchasing resources are required to manage it."
For the purposes of this report, Wainhouse defined UCaaS as a hosted service that delivers a unified end-user experience including IM, presence, audio, videoconferencing, desktop/application sharing, and group collaboration. Obviously covering a wide range of disciplines, it sees long-term growth in a number of areas as the technology matures and more enterprises take advantage of that growth.
In particular, the report examines:
- What has changed and why to expect higher market growth;
- How UCaaS with and without telephony will penetrate the market;
- Observations on enterprise behavior as UC features coalesce;
- Implications on infrastructure, cost models, teams and skill sets;
- Segmentation of the SME and large enterprise opportunity.
For the report’s particulars, Wainhouse Research said it conducted an independent assessment of the industry, gathering market data from more than 70 of the world's most prominent communications service providers and platform vendors, as well as a range of enterprises to validate growth rates and behavior.
Edited by Stefania Viscusi