UCaaS (Unified Communication as-a-service) Market Projected to $23.34 Billion by 2019 – New Report by MarketsandMarkets

(PRWEB) June 26, 2014

The report "Unified Communication as a service (UCaaS) Market (VoIP, Unified Messaging, Unified Communication, Conferencing, Collaborative Tools, Enterprise Mobility, Hosted Communication) - Global Advancements, Worldwide Forecasts and Analysis (2014-2019)", provides a comprehensive market and forecast analysis of the overall market, segmented by components, organization size, industry/verticals, and regions.

Browse 46 market data tables and 6 figures spread through 140 pages and in-depth TOC on "Unified Communication as a service (UCaaS) Market)"
http://www.marketsandmarkets.com/Market-Reports/unified-communication-as-a-service-ucaas-market-893.html

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MarketsandMarkets forecasts the Unified Communication as-a-service (UCaaS) market to grow from $13.10 billion in 2014 to $23.34 billion in 2019. This represents a Compound Annual Growth Rate (CAGR) of 12.2% from 2014 to 2019.

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MarketsandMarkets has segmented the UCaaS market on the basis of components: telephony, unified messaging, conferencing, collaboration platforms, and applications; on the basis organization size: small businesses, medium businesses enterprises and large enterprises on the basis of industry/verticals: Banking, Financial Services, and Insurance (BFSI), Telecom and Information Technology (IT), consumer goods and retail, healthcare, public sector and utilities, logistics and transportation, travel and hospitality, and others (including education, media and entertainment, manufacturing); and by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).

The report covers all the major sub segments of the Unified Communication as a service market and provides the quantitative (market size and market growth) and qualitative (trends, analysis, and insights) for the segments. This comprehensive coverage of the UCaaS market provides important inputs such as drivers, restraints, and opportunities in this market, profiles the major players in this market, maps the competitive landscape, and provides the overall perspective on the UCaaS market in the various verticals and regions.

Companies are moving from on-premise infrastructure to a cloud-based unified communications model, for cost saving and for more service options. Many small, medium enterprises are using UCaaS services to facilitate personal as well as communication across organization. The various advantages offered by UCaaS such as pay as per the need and requirement, cost effectiveness, reduction of travelling time and many more augmented its implementation in business. UCaaS has eliminated the limitation of geographic dispersed units to work in a synchronized way.

UCaaS is helping its customers accelerate business processes, reduce traveling time, and reduce costs as they only pay for what they need, when they need it. It allows them to concentrate on their customers while the service providers take care of their communication facilities.Various innovative solutions such as communication on the move are introduced to meet the demand of enterprise mobility. Through this, an employee should be able use to the company's resources for communication when on the move, a service provided by UCaaS. Such innovations are expected to promote investments in UCaaS techniques and tools.

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There are many untapped or less explored markets that hold possibilities in terms of market opportunity. Its successful adoption in large organizations taken into account the security, privacy, and confidentiality of data is biggest challenge to this market. It is expected that future outlook for growth in the UCaaS market will continue to remain bright as businesses continue to search for cost effective unified communication systems/architectures.

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