The investment in UCaaS will reach 96,000 million dollars in 2023

The Unified Communications as a Service (UCaaS) market will continue to experience significant growth over the next few years, as the Global Market Insights, Inc. study concludes, pointing to an estimated growth of 13.2% for the period 2016-2023, predicting that global investment in UCaaS will reach $ 96 billion by 2023.

UCaaS European sectorial market, 2012-2023 (millions of dollars) | SOURCE: Global Market Insights, Inc.

The key reason for this growth is the continued increase in the demand for unified communications by the business sector, an increase attributed to the high capacity of the technology to provide the necessary communication services in real time.

Companies are upgrading their existing telephony and messaging infrastructures, while installing new UCaaS solutions as a strategy to respond to the growing need to improve operational efficiency and reduce costs. Increased flexibility and scalability, automation, high availability for essential business tasks, reduced time, greater profitability, or pay-per-use are just a few of the key benefits of unified communications, the implementation of this technology in companies.

On the other hand, this report also highlights the ability to accommodate multiple functionalities of the communication system in a single platform, which makes telephony an essential tool in the business environment. Thus, telephony will also act as a driver of the UC market due to its compatibility with the automated transfer of fax, voice or other information.

And all this without forgetting the growing demand for IP telephony and VoIP in the telecommunication and IT, BFSI, travel and accommodation sectors, and the logistics and transport industries, which also act, and will continue to do so, as a growth factor of Unified communications market.

By economic sectors, government applications will experience the greatest growth, due to the increasing adoption of technology to respond to citizen needs and public safety.

By region, the Asia-Pacific region will experience the highest growth (almost 15%), favored by the greater penetration of mobile devices and 4G LTE networks and an extraordinary population base.