Indicators from the Unified Communications Market – Global Industry Analysis, Size, Share, Trends, and Forecast 2012-2018 project an aggressive global UC expenditure of $61.9 billion in 2017.
Why are Unified Communications Booming?
There are many reasons that we are seeing growth continuing in the UCaaS space. Mobility and the use of mobile devices continues to grow. It has now reached the point where mobile traffic volume is surpassing the amount of desktop traffic for the first time. The desktop remains important, but because of increasing mobile needs, there is a growing need for mobile applications with increased functionality and ease of use. Unified Communications can unify communications equipment and provide multiple services.
Online meetings are also growing in popularity because they are convenient. They save time and travel expense. More companies are hiring remote employees as well. Being able to connect to remote employees as well as employees who work in office is necessary. This improves productivity and flexibility while keeping down the operational expenses down.
During this decade, Generation Z (post-millennial) will enter the workforce. This generation grew up with a constant stream of digital communication, so they are adjusted to sharing content and have a variety of ways of receiving content. They have high expectations when it comes to technology performance, and they want more connectivity that comes with flexibility.
The workplace has welcomed bots and digital assistants. This means that more businesses are proactive when it comes to accuracy and speed related to decision-making in the workplace. Bots can enable a company to accurately leverage consumer data while providing tangible value is when it comes to making business decisions.
More companies are also seeing increased integration when it comes to the collaboration stack. According to predictions by IDC, 75% of IT spending will be driven by social media, cloud, mobile, and analytics based services by 2019. This is a clear indicator that third platform technology is bringing a shift in transformational technology. This brings an interesting variety of tools for communication and collaboration to the workplace. With this shift, end-users are gaining power when it comes to making decisions, so they can place more value on ease of use and the overall experience of the user.
Looking at the Numbers Relating to UCaaS
When you break down the numbers, you will find that UCaaS offers a lower ownership cost than other forms of UC communication tools. The largest growth is expected to be in the telephony segment because multiple communication functions can be integrated in a single platform. With the market being segmented into different industry verticals, UCaaS is expected to see the largest growth in travel, hospitality, logistics, transportation, telecom, and BFSI.
Looking at the overall market for UCaaS, North America is expected to dominate the market from 2016 to 2021. This is thanks to an economy with stability, advances in technology, and greater demand for unified communications infrastructure. When all of these aspects come into play, it is obvious that the potential for growth and expansion is stronger than ever.
Experts expect to see UCaaS grow from $15.12 billion in the US in 2015 to $24.88 billion in 2020 as Unified Communications makes overall work experiences more pleasant and more efficient and accurate.
UCaaS providers will need to offer the most advanced technology that is available to meet the needs and demands of the various industries. By meeting the demands, the various industries can see the advantages to of switching to UCaaS because of its ease of use, effectiveness, and ability to provide cost-effective telecommunications solutions that work. When choosing a UCaaS provider, inquire about the equipment and platform that is being used and ask them to show you specifically how your business operation can benefit from the switch to the advanced technology and communications setup.
It is obvious that United Communications as a Service is going to be the platform of choice for more industries in the future. Looking at the numbers and the expectations, it is obvious that UCaaS is the way to go when looking for ways to grow your business and find streamlined efficiency that works.