The unified communication services market is believed to hit a total global value of $2.52 billion in 2013, and is expected to grow at a CAGR of around 25% between 2013 and 2018. This would value the unified communication services market at around $7.62 billion by the year 2018. In terms of regional share, North America is the leading sector, with a 44% share of the industry. This translates as a current value of $1.11 billion, rising to $2.9 billion by 2018.
The APAC region is expected to grow from 2013 to 2018 at a CAGR of 33.0%, which is deemed to be the highest CAGR for that period. APAC region revenue is forecasted to rise from $0.41 billion in 2013 to $1.72 billion by 2017.
The annual growth rate for the UCaaS market is expected to continuously rise from 2013 to 2015, as the market is still in its initial phase and gradually gaining acceptance by the industry. The annual growth rate is expected to slow down from 2016 onwards. Companies want to reduce their IT and business communication expenditure, so the next three to four years will be reflect high growth rates for the UCaaS market.
Unified Communications as-a-service (UCaaS) is a rapidly growing market and generates a lot of interest in the enterprise as well as in developer communities. UCaaS is a highly standardized, pre-integrated, permanently updated and ready to go service that enhances a client's productivity and accelerates business processes and decision making while lowering costs. UCaaS will be one of the key enabling factors that will drive the market for unified communication. Furthermore, cloud based access is making unified communication available for a wider range of organizations and end users. The shift from on-premises to cloud based unified communication model will be the key driver for unified communication to grow in the future.
Some of the major players in this market are Avaya, Cisco, Microsoft, Alcatel-Lucent, Siemens enterprise communications, Mitel, CSC, Panterra networks, Interactive intelligence and NEC. This report highlights the future growth potential, key drivers, restraints and opportunities in this market. The report also analyzes global acceptance trends and evolving platforms in this market, along with growth potential, market sizes and revenue forecasts across different geographical territories.For more information on the unified communication services market please click here: Unified Communication Services Market
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