Albany, NY -- (SBWIRE) -- 10/17/2018 -- The top five companies in the Unified Communication as a Service (UCaaS) market together accounted for a share of just under 57% in 2015. Transparency Market Research observes that the key opportunity for these players – 8X8 Inc., West Corporation, Cisco Systems Inc., Microsoft Corporation, and Fuze Inc. – lies in the integration of business processes and applications. This is expected to further the adoption of UCaaS solutions across the globe.
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"There has been a substantial increase in the use of social media for businesses, and combining social media with UCaaS solutions enables efficient customer relationships and strengthens marketing," the author of the study states. UCaaS vendors are, therefore, looking to build ecosystems that can make social business integration compelling for enterprises.
Recent studies have shown a significant rise in the number of mobile workers across the globe. "Growing liberalization around the world has compelled large enterprises to enter cross-border markets, thereby driving the need for collaboration tools to allow employees of a company to effectively communicate with each other," the author of the study comments. UCaaS solutions support this very need and as a result, the market for the same has been receiving a major boost. "The impact of this driver will be high during the forecast period with businesses likely to expand operations to developing regions such as the MEA and Asia Pacific," the analyst predicts.
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The growth of the BYOD trend, multiple benefits offered by UCaaS solutions, and surging penetration of mobile devices are also responsible for the future expansion of the UCaaS market.
In contrast, the lack of awareness regarding UCaaS solutions and the benefits they offer threatens to hamper the adoption rate of UCaaS by SMEs. However, this impediment is projected to have a minimal impact on the UCaaS market in the long term.