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Unified Communication As a Service Market Analysis: Monthly Edition October 2022

According to a comprehensive research report by Fortune Business Insights, “Unified Communication As a Service Market Research Report: by Component, Technology, Device Type, Vertical -Forecast till 2029”, The reports further predict the market to flourish at a robust CAGR during the assessment timeframe.

The Unified Communication As a Service Market is expected to garner substantial traction in future years. The rising use of AR technology in head-mounted and head-up displays (HUD) substantiates the market growth and asserts that the global Unified Communication As a Service Market is estimated to reach 2029, growing throughout the assessment period (2022-2029).

The global unified communication as a service (UCaaS) market size was USD 25.85 billion in 2020. The market is expected to grow from USD 28.96 billion in 2021 to USD 69.93 billion in 2028 at a CAGR of 13.4% during the 2021-2028 period.

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Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Unified Communication As a Service Market is likely to expand at a CAGR of around during the forecast period (2022-2029).
  • The increase in revenue is mostly attributable to the demand for and sales of VR-based hardware in the gaming sector, by component segment.
  • Based on Device Segment Analysis Mobile Sector dominate the Unified Communication As a Service Market.
  • On the basis of region, North America is anticipated to have a significant share of the industry during the projected period.

Covid-19 Scenario:

  • The Covid-19 pandemic favored the growth of the market due to a rise in the shift toward the adoption of technologies since most businesses implemented the work-from-home culture.
  • Digital transformation and industry 4.0 had boosted the demand for Unified Communication As a Service Market. Moreover, the players were collectively forced to deploy multiple new and agile approaches to improve the consumer experience.

Companies involved in the global Unified Communication As a Service Market research report are:

  • ALE International (Boulogne-Billancourt, France)
  • AT&T, Inc. (Texas, United States)
  • Avaya, Inc. (California, United States)
  • Cisco System, Inc. (California, United States)
  • Genesys (California, United States)
  • Google LLC (California, United States)
  • Huawei Technologies Co., Ltd (Shenzhen, China)
  • IBM Corporation (New York, United States)
  • IntelePeer Cloud Communications (California, United States)
  • Metaswitch Networks Ltd (London Borough of Enfield, United Kingdom)
  • Microsoft Corporation (Washington, United States)
  • Mitel Networks Corporation (Ottawa, Canada)
  • Polycon, Inc. (California ‎, United States)
  • Ribbon Communications (Massachusetts, United States)
  • RingCentral, Inc (California, United States)
  • Sify Technologies, Ltd (Chennai, India)
  • Tata Communications, Ltd. (Maharashtra, India)
  • Twilio, Inc. (California, United States)
  • Verizon Communication, Inc (New York, United States)
  • Vonage Holdings Corp (New Jersey, United States)
  • Zoom Video Communications, Inc. (California, United States)

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Driver: Rising investments in the market

Over the past few years, investments in the business have grown significantly. The Unified Communication As a Service Market business is receiving significant investment from firms including Facebook Corporation, Intel Corporation, Qualcomm, Inc., Alphabet, Inc., Comcast Ventures, and Samsung Group. Additionally, a number of research organizations are investigating the AR application market for a range of goods and uses. Governments finance certain research institutes, while others are supported by private businesses and venture capitalists. Businesses in the consumer, healthcare, aerospace & military, retail, and marketing sectors all benefit.

Influencing Factors:

  • Market Environment: Government Policies, Technological Changes, Market Risks.
  • Market Drivers: Growing Demand, Reduction in Cost, Market Opportunities and Challenges.

Unified Communication As a Service Market Forecast:

  • Market Size Forecast: Global Overall Size, By Type/Product Category, By Applications/End Users, By Regions/Geography.
  • Key Data (Revenue): Market Size, Market Share, Growth Rate, Growth, Product Sales Price.

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Carlton is the contributing author of electronic security. His field of communication is fascinating since he writes about that side of the industry which is costly, less used but more inclined upon by developed countries. Electronic securities have been seeing an upward graph nowadays, but the current scenario still needs to be changed. Carlton’s articles reflect the real happening wrapped up in formally written words.

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