The market for unified communication services (UCaaS) will grow 11.2 % to 2022

A new report by analyst firm Research and Markets, entitled “Global Unified Communication as a Service (UCaaS) Market Insights, Opportunity, Analysis, 2016-2022 Market Shares And Forecast” predicts that the market for unified communications as service will present a compound annual growth rate of 11.2 % during the period 2016-2022.  

North America will maintain its leadership in the growth of UCaaS

In this compound and continued market unified communications as a service reaching double digits, telecommunications, new information technologies and applications retail growth dominate the market today. However, will the banking, financial services and insurance services and logistics which shall hold the greatest part of the future market as the business process outsourcing in these areas is consolidated and rising. According to analyst firm mentioned that the rapid increase in demand due to the growing interest in improving the efficiency of communications at reduced cost.  

With regard to regions, although the growth trend is expected globally, North America, which already accounted for 45 percent of the market share UCaaS in 2015, followed by the European region will maintain its hegemony in various sectors such as BFSI (Banking, Financial Services & Insurance), the retail, transportation and telecommunications.   But also the Asia-Pacific (APAC) will witness a remarkable growth of UCaaS market estimated around 13% and mainly driven by higher infrastructure development of Information Technology (IT) and investment large enterprises and governments in international trade.