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Business Opportunity with Unified Communication as a Service Market in Systems Software IndustryNEW YORK, June 25, 2021 /PRNewswire/ -- The Unified Communication as a Service Market report has been added to Technavio's offering. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Our client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
The unified communication as a service market is expected to grow by USD 66.23 billion, progressing at a CAGR of over 25% during the forecast period. Download: Analysis on Unified Communication as a Service Market characteristics https://www.technavio.com/talk-to-us?report=IRTNTR70636 What will Drive the Market? The shift from CAPEX to OPEX is one of the major factors propelling the market growth. However, factors such as system integration and interoperability issues may impede market growth. Unified Communication as a Service Market Segmentation by End-user Organizations in the BFSI industry are adopting UCaaS to minimize the total cost of ownership (TCO) of IT expenditures. Regulations and compliance norms are continuously evolving in this sector. This has compelled many organizations to implement flexible IT solutions that adhere to the latest regulatory standards. UCaaS enables organizations to use telephony services on a common platform as per business requirements. Services such as instant messaging, teleconferencing, and video call services are immensely used in the BFSI sector. The addition of features, such as real-time speech recognition technologies and advanced IT security, enables product differentiation among UCaaS providers for organizations in this sector. During the forecast period, the financial sector is expected to focus on the improvement of customer services; superior workflow automation of core and allied activities, such as deposits, lending, and leasing; and regulatory compliance. This will likely lead to an increase in the deployment of UCaaS solutions in organizations. Unified Communication as a Service Market Segmentation by Geography 44% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for unified communication as a service market in North America. Market growth in this region will be slower than the growth of the market in other regions. The presence of large enterprises and the availability of high-speed broadband networking will facilitate the unified communication as a service market growth in North America over the forecast period. Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform: https://www.technavio.com/request-free-demo?industry=Systems Software Interested in Information Technology Related Reports? Global Session Initiation Protocol Trunking Market Vendor Profile:
What to offer?
Buy our Unified Communication as a Service Market report right now to gain access to a detailed customer landscape matrix comparing key industry-driven parameters. https://www.technavio.com/Buy Now! Key Topics Covered: Executive Summary Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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