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UCaaS market to reach $24.3 billion by 2026
by Paul Davenport Paul Davenport on

The Unified Communications-as-a-Service (UCaaS) market is the latest cloud-driven industry to receive a booming growth forecast, with the market size poised to reach a valuation of $24.3 billion by 2026.

This represents a compound annual growth rate (CAGR) of 8.4 percent from 2019, when the market was already assessed at a massive $13.8 billion.

This growth reflects similar trends in the demand for cloud-delivered, subscription-based enterprise solutions, as they’ve been the saving grace for major enterprises forced to upend their office-centric workflows in the face of a global pandemic. But trends predating COVID-19 have played a significant role in establishing such a robust market for flexible UC solutions, from BYOD initiatives to an increased hunger for worker mobility.

But the real answer to “why the growth?” lays in the rapid advances to the quality and efficacy of UCaaS in general: Leading UCaaS providers have expanded their capabilities significantly in the recent past and stand to continue benefiting as the hunger for flexible and scalable UC in the enterprise grows.

Artificial intelligence (AI), for instance, has expanded the definition for what enterprise UCaaS can and should deliver by leaps and bounds, allowing companies to record calls intuitively, deliver transactions seamlessly and “listen in” to recognize user needs on sales calls.

The true beauty of UCaaS, however, is how it allows enterprise IT teams to more predictably budget for services and change course as needed. Many teams may be reevaluating their go-to UC in the near-term, for instance, if their legacy provider let them down in the rushed WFH transformation that hit enterprises in the spring. With UCaaS, teams can roll out new tools as needed and plan more cost-effectively given the realities of their budgets in the “new normal.”

Ensuring the deployment of new solutions – or even just managing the performance quality of legacy tools – calls for comprehensive performance visibility to ensure that solutions meet users’ expectations for digital performance, which can be tricky to predict in a WFH world. Many teams are going to be logging in via residential connections for the foreseeable future, calling for IT to deploy comprehensive solutions that can pinpoint when and where issues take place in near real-time to ensure faster resolution.

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Filed Under: industry insights

Tags: DEM, digital experience monitoring, WFH, work from home, remote workforce, remote workers, remote work, streaming, web conference, video conference, web chat, web call, video chat, video call, UC, Unified Communications, UCaaS

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