A new study is signaling the continued growth of the Unified Communications as a Service (UCaaS) market with revenues projected to grow from $2.52 billion in 2013 to $7.62 billion by 2018, an estimated compound annual growth rate (CAGR) of 24.8 percent, according to Fierce Enterprise Communications.
Unified communications has taken the business communications industry by storm in the last few years by streamlining and optimizing business processes, which enhances collaboration across organizations and helps decisions get made faster.
It is important for businesses to look into new IP-powered telephony and UC communications, because they’re only going to gain momentum in the coming years as they’re more widely adopted by organizations of all sizes. VARs and service providers should also take a serious look at having UCaaS solutions in their communications portfolio as the market continues to gain attention and visibility, and customers begin to demand it.
What can UCaaS provide for my customers?
UCaaS allows businesses to take advantage of the high-level of quality interaction that unified communications provides, from online meetings to telephony and video conferencing, and enterprise messaging and presence technology, as well. UCaaS also ensures that your service will be hosted by a reliable staff, assisting your business with any needs or concerns with the technology that may arise.
While telephony is still the most utilized technology, UCaaS will continue to drive market growth as video technology and collaboration solutions become the normative method of communication.
What does this mean for the unified communications trend as a whole?
A recent study predicts a 4.2 percent growth rate in the unified communications market overall, showing that while the tools will continue to rise in popularity and utility, UCaaS is especially poised to make its stand in the growing market.
“Unified communications enables quicker execution and delivery of business processes, which in turn aids in informed decisions being made, coupled with enhanced collaboration across organizations,” the report says.
It will be exciting to see where the unified communications market expands next, and the role that UCaaS will play in this expansion should not be underestimated.
To learn more about unified communications, click here.