Unified Communications (UC), since its launch, has emerged as a cost-effective solution for organizations across various industries, such as BFSI, healthcare, and retail, among others. However, the cloud delivery of the unified communications offered by companies, like Mitel Networks Corporation and IBM, is shaping the way organizations manage their communication networks.​

- The growing need for an easily maintained network systems that can enable effective communications across multiple end-user industries, including healthcare, retail, and manufacturing, among others, is evident, considering the old/obsolete contact centers. ​

- The advent of cost-effective cloud-based solutions has seen increased adoption from healthcare providers, who are often categorized to have minimum IT budgets. With the subscription-based United Communication services in place, the healthcare contact centers are establishing their PBX systems and seamlessly addressing multiple customer requests coming in from multiple sites. ​

- The rapidly increasing adoption of the BYOD trend and other mobility solutions is expected to drive the adoption of UCaaS solutions even further. Bring Your Own Device (BYOD) has emerged as a significant trend in this new era of flexibility and network accessibility for employees working around the globe for various organizations, making the workplace more productive. ​For instance, According to Cisco, enterprises with a BYOD policy in place saves on average USD 350 per year, per employee.

- Further, the ease of adoption of cloud-based technologies has further boosted the adoption of video conferencing among businesses, which is driving the adoption of cloud services for various business needs. Although many enterprise-level unified communications vendors, like Cisco, have offerings in this space, stand-alone and freemium persistent workspace applications are also still being implemented among businesses.​

- Also, countries such as the United States, United Kingdom, China, Korea, etc., can be potential markets for UCaaS. For instance, healthcare spending in the United States is projected to increase by 5.5% annually, from 2017 through 2026, according to the US Centers for Medicare and Medicaid Services (CMS). If the spending increases at this rate, by 2026, health spending is projected to reach USD 5.7 trillion, which indicates stronger competition among the healthcare providers, and this creates the need to embrace new technologies in order to sustain.​

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Key Market Trends

Manufacturing Sector is Expected to Register a Significant Growth

- The manufacturing sector is the backbone of the economy of every country across the world. Thus, observing efficient time to market, quality control, and avoiding downtime is of vital importance. Companies have realized that effective communication throughout the work floor of factories and industries is one of the ways to achieve these three goals. ​

- As a result, the manufacturing sector, which was previously limited by their traditional communication systems and legacy infrastructures, is now increasingly adopting UCaaS and is experiencing greater productivity gains as a result. The increasing deployment of cloud solutions, coupled with the rise in usage of VoIP and IP phones, has been a significant driver for the adoption of UCaaS in manufacturing environments. ​

- Additionally, Government initiatives such as "Made in China 2025", which primarily aim to make China a dominant region in the global high-tech manufacturing sector is influencing other regions to take up initiatives like this which are expected to drive the market even further. This initiative is primarily focused on the manufacturing of electric cars, next-generation IT and telecommunications, new energy vehicles, and advanced robotics and AI and is expected to drive the unified communication-as-a-service in the manufacturing industry even forward.​

Europe is Expected to Occupy Significant Market Share

- There are approximately 319,000 retail businesses in the United Kingdom, with approximately 87% of UK consumers reported having made a purchase of at least one product online in 2018. UK retailers are looking to entice customers to interact with them in-store so that they keep coming back. To do this, they need to provide a convenient and frictionless in-store experience, with the added advantage of knowledgeable sales staff that can explain product offerings and the number-one preference of in-store shoppers, ahead of ambiance, which is propelling the adoption of UCaaS.​

- The country has witnessed a potential growth in the retail industry, with major players, like 8x8, a US-based company, which is one of the largest UCaaS providers comprising more than 1 million users, expanded significantly in the European market, after it made two acquisitions of UK-headquartered enterprises.​
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The country’s carriers’ efforts to discontinue the integrated services digital network services are driving the carrier and customer migration to Internet protocol connectivity services. This huge shift is driving the adoption of next-generation business communication solutions, such as hosted private branch exchange (PBX) and UCaaS solutions. ​For instance, companies, such as Node4, announced a new and improved UCaaS platform. This offering is primarily built on a shared architecture, which implies that Node4 customers will benefit from both the customer dedicated platform and a multi-tenant one, allowing smaller organizations to access top-tier collaboration tools, affordably.​

Competitive Landscape

The competitive rivalry in the market between the players is high owing to the presence of some major players like 8x8 inc, Fuze Inc, Verizon, and many more. These companies are able to gain a competitive advantage over the other players due to their ability to bring about innovations by investing heavily in research and developments. The companies entering into strategic partnerships and their mergers and acquisitions have allowed them to occupy a substantial share in the market.

- December 2019: BridgeClimb, the operator of Sydney’s iconic Harbour Bridge experience, selected RingCentral Australia Pty Ltd, a wholly-owned subsidiary of RingCentral, Inc., to enable multichannel communications and customer service. To replace its legacy on-premise infrastructure, BridgeClimb has deployed RingCentral Office and RingCentral Contact Centre solutions across its entire staff. ​

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