Global Unified Communications as a Service (UCaaS) Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 5, 2022 /EINPresswire.com/ — Automated transcription driven by artificial intelligence (AI) is a key trend gaining popularity in the Unified Communications-as-a-Service market. AI transcription refers to text-to-speech technology that replaces the requirement for a manual process. It saves time and increases the capabilities of industry professionals. Automated transcriptions are supported by the principle of automatic speech recognition. For example, in 2020, Verbit, a US-based company that uses smart AI technology to deliver fast, automated captions and transcription, launched its AI-powered transcription service, used by students, professionals and the media. Verbit’s AI-powered automated transcription software delivers 99% real-time accuracy rates.
The growing demand for BYOD and mobility is expected to propel the growth of the Unified Communications-as-a-Service market. BYOD (bring your own device) means being allowed to use one’s personal device, rather than being forced to use a device officially provided by an organization, offering greater productivity gains. Some studies have shown that BYOD can increase productivity, employee satisfaction, and cost savings for the business. According to TechJury, an enterprise software solutions company, as of October 2021, 67% of employees were using their own personal devices in the workplace and 59% of organizations had adopted BYOD. Hence, increasing demand for BYOD and mobility is driving the growth of unified communications as a service market.
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The global United Communications-as-a-Service market size is expected to grow from USD 30.25 billion in 2021 to USD 35.29 billion in 2022 at a compound annual growth rate (CAGR) of 16.67%. The change in the growth trend of the UCaaS market is mainly due to the stabilization of the production of the companies after meeting the demand which increased exponentially during the COVID-19 pandemic in 2020. The market share is expected to reach 65 .22 billion in 2026 at a CAGR of 16.611%.
Key Players Covered in Global Unified Communications as a Service (UCaaS) Industry are 8×8 Inc., ALE International, Avaya Inc., Cisco Systems, Fuze, Inc., Genesys, LogMeIn, Masergy Communications, Inc, Metaswitch Networks Ltd, Microsoft Corporation, Mitel Networks Corporation, NTT Communications Corporation, Ringcentral Inc, Sify Technologies, Ltd, Tata Communications Ltd, Verizon Communication, Inc, Vonage, Alcatel-Lucent Enterprise, Amazon.com, AT&T Inc., CenturyLink, Dial .
TBRC’s Global Unified Communications as a Service (UCaaS) Market report is segmented by Component into Telephony, Unified Messaging, Collaboration Platforms, Conferencing, Others, by Solution into Software, Services, by Vertical into Banking, financial services and insurance, IT and telecommunications, IT services, education, retail and consumer goods, government and defense, healthcare, other, by size of organization in small and medium-sized enterprises (SMEs), large enterprises.
Global Unified Communication as a Service (UCaaS) Market Report 2022 – By Component (Telephony, Unified Messaging, Collaboration Platforms, Conferencing, Other Components), By Solution (Software, Services), By Vertical (Banking, Services) Financial & Insurance, IT & Telecommunications, IT Services, Education, Retail & Consumer Goods, Government & Defense, Healthcare, Other Verticals), by Organization Size (Small & Medium Enterprises (SMEs), Large Enterprises ) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provides Unified Communication as a Service (UCaaS) market overview, market forecasts, unified communication as a service (UCaaS), unified communication as a service (UCaaS) market size and growth of the unified communication market as a Service (UCaaS) Market Overall, Unified Communication as a Service (UCaaS) Market Segments, Geographies, Unified Communication as a Service (UCaaS) Market Trends, Market Drivers of Unified Communication as a Service (UCaaS), Unified Communication as a Service (UCaaS) Market Constraints, Unified Communication as a Service (UCaaS) Market Top Competitor Revenue, Profiles and Communication Unified Communication as a Service (UCaaS) Market Share, Unified Communication as a Service (UCaaS) Market Report, Unified Communication as a Service (UCaaS) Market Research
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