Unified Communication-as-a-Service (UCaaS) Market 2020 : Overview Of The Key Driving Forces To Create Positive Impact On The Industry Growth

Stakeholders in business organizations are constantly looking for flexible, scalable, and secure unified communication-as-a-service (UCaaS) platforms that help them stay ahead in the competition. The quick uptake and deployment of new functions and features in these service platforms add great value to business organizations.

UC PaaS (Platform as a Service) serves as an efficient platform for cloud-based computing. Since UC PaaS is anticipated for high growth in the number of subscribers, with an estimate of ~12.5 million users by the year 2027, market players in the unified communication-as-a-service market are making investments to integrate multimedia communication methods such as video meetings, telephony, and other collaborative tools in one single platform to allow easy operation for users.

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Investments in research & development in the unified communication as a service market and initiating dialogue with consumers help service providers in developing unique functions and features in UCaaS platforms. Popular technologies such as voice assistance, artificial intelligence, and machine learning empower users to use their unified communication-as-a-service platforms to their full potential for exponential growth opportunities.

Players operating in the unified communication-as-a-service market are strategizing partnerships to develop simplified subscription plans for the growing sector of mid-market and large enterprises. These plans provide ease and transparency for the partners who are collaborating, as well for stakeholders in business organizations.

Since users do not want to get involved in the added costs and complexities of on-premise technology, they are demanding a one-package-meets-all platform that provides them all the communication ingredients. This includes the flexibility of ‘ready-to-move’ technology to the cloud.

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The unified communication-as-a-service market is moderately consolidated, which adds pressure on emerging market players to come up with ground-breaking innovations. Natural language processing, sentiment analysis, and conversations with the help of artificial intelligence (AI) are estimated to have growing prominence in UCaaS in the coming years. However, currently, AI lacks practical application in organizations, and there only a few cases where organizations have made successful use of AI for work efficiency and other collaborative activities. As such, market players are developing communication opportunities with virtual reality (VR) to enhance visibility and interactions amongst users.

Small vendors are more open to adopting new paradigms and priority shifts according to the changing needs of users, as compared to large market players. However, small service providers are restricted with limited spending capacity, leaving the opportunity for a very small share of vendors to catch up with the competition against large market players. As such, small vendors are upgrading with competitive pricing packages leveraged with AI to cope up in the competitive landscape.

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