Global Unified Communication-as-a-Service (UCaaS) Market: Overview
According to a new market report pertaining to the global unified communication-as-a-service (UCaaS) market published by Transparency Market Research the global unified communication-as-a-service market is projected to reach a value of ~US$ 235 Bn by 2027. The unified communication-as-a-service market is projected to expand at a CAGR of ~36% from 2019 to 2027.
UCaaS solutions provide high level of scalability and flexibility for core business processes. Thus, UCaaS effectively enhances collaborative capabilities and enhances the business decision-making ability for end users, worldwide. North America is anticipated to lead the global UCaaS market, followed by Asia Pacific, during the forecast period.
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Increasing Demand for Enterprise Mobility and Mobile Workforce
The unified communication-as-a-service market is being fueled by the increasing demand for enterprise mobility and mobile workforce. Studies conducted on a global level have shown a stupendous rise in the number of mobile workers. With increasing liberalization across the world, larger enterprises are looking to enter cross-border markets, thereby increasing the need for collaboration tools, which would enable effective communication among the employees of a company.
UCaaS solutions support mobility, provide flexibility, and increase productivity across businesses. Organizations can hold online meetings using video conferencing and audio conferencing with the support of unified communication-as-a-service solutions. The impact of this driver is expected to be high during the forecast period, as businesses are expected to expand their operations across developing regions such as Asia Pacific and the Middle East & Africa