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Unified Communication as a Service (UCaaS) Market Size to Reach Revenues of USD 87.20 Billion by 2026 - AriztonCHICAGO, Aug. 10, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global Unified Communication as a Service (UCaaS) market report.  The Unified Communication as a Service (UCaaS) market is expected to grow at a CAGR of over 19.25% during the period 2020-2026. Key Highlights Offered in the Report: 1. The global UCaaS market is expected to witness the highest demand from North America and Europe region. 2. The emerging trends such as artificial intelligence (AI), developments of new technologies, rising awareness of cloud and its benefits, maturing business models, and bring your own device (BYOD) is projected to support the market growth. 3. Large enterprises hold the highest share in the market. However, small & medium enterprises (SMEs) are expected to witness the highest growth rate with a CAGR of 20.76% owing to the continuous growth of SMEs worldwide. The growing number of SMEs in developing countries such as China, Brazil, and others is likely to support the market growth. 4. Telecom & IT industry is leading the global UCaaS market and is expected to grow at a CAGR of 15.10% from 2020-2026. 5. The UCaaS finds its application across all industries including healthcare, telecom & IT, BFSI, hospitality, healthcare, logistics, and others, and across all job functions. 6. BFSI & Retail & consumers good industry is expected to witness the highest CAGR growth of 23.46% and 21.61%, respectively. 7. The global COVID-19 pandemic has positively affected the UCaaS market. It has resulted in more than 85% increase in UCaaS sales worldwide. The 2020 pandemic caused due to COVID-19 has forced IT teams to move from traditional network infrastructures to cloud-based solutions, which promote remote working, thereby boosting the demand for UCaaS in the market. Key Offerings:
Get your sample today! https://www.arizton.com/market-reports/unified-communication-service-market Unified Communication as a Service (UCaaS) Market – Segmentation
Unified Communication as a Service (UCaaS) Market by Component
Unified Communication as a Service (UCaaS) Market by Industry Vertical
Unified Communication as a Service (UCaaS) Market – Dynamics The success of UCaaS depends heavily on the speed of the data. Improvement in connectivity and development of the connectivity infrastructure is expected to boost the demand for cloud-based UC platforms. The rollout of the 5G network provided significant growth opportunities to UCaaS vendors in the market. Running communication data over the public internet is difficult for companies, and this is not very fruitful in business communication. The emergence of 5G and Software Defined Networking in a Wide Area Network (SD-WAN) is likely to encourage organizations to shift over to this network, which is likely to boost the demand for UCaaS. Network connections such as 5G provide improved connectivity, and SD-WAN safeguards public internet connectivity. This enables organizations to access UCaaS for screen sharing, voice, and video calling. Key Drivers and Trends fueling Market Growth:
Unified Communication as a Service (UCaaS) Market – Geography In 2020, North America dominated the UCaaS market accounting for 31.71% share by revenue in the global market. Highly skilled labor, high technology is driven population, presence of a large number of enterprises are the major elements that have led to such huge demand in the region. Apart from that, deep penetration of some of the largest vendors such as Google, Microsoft, RingCentral, and others in the region has made the market growth easy. The US and Canada are the major countries driving the demand in North America and are expected to keep leading during the forecast period. The region is an early adopter of many new technologies. Continuous innovation and development of new technologies along with high acceptance are accelerating the growth of industries in the region. This continuous growth of industries is likely to create more demand for UcaaS during the forecast period. Get your sample today! https://www.arizton.com/market-reports/unified-communication-service-market Unified Communication as a Service (UCaaS) Market by Geography
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About Arizton: Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports. Mail: [email protected] LOGO: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg 
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