New York, NY -- (SBWIRE) -- 10/26/2017 -- Unified communication as a service is a delivery model in which collaboration and communication services and applications are outsourced to third party service provider. These services are delivered over the IP network. Unified communication as a service (UcaaS) technologies include presence technology, enterprise messaging, online meetings and video conferencing. There are two primary approaches of UcaaS namely single-tenancy and multi-tenancy. The former approach offers customized software platform to end-users, which can be integrated with on-premises applications.

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The latter approach offers single software platform to be shared among multiple end-users. Furthermore, enterprises have an option to adopt hybrid approach, which offers software platform that can keep a portion of their unified communications on-premises and remaining applications in the cloud. UcaaS solutions reduce cost through consolidation of equipment and services. In addition, it improves productivity, as unified communication provides common interface for employees. Above mentioned benefits are enhancing adoptions of UcaaS mainly in small and medium scale enterprises.

The unified communication as a service (UcaaS) market report contains the global scenario of this market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the cyber security market size along with key factors driving and restraining the market growth.

The unified communication as a service (UcaaS) market can be segmented in three major types into components, applications and enterprise size. The unified communication as a service market can be segmented on the basis of types of components into three major categories namely unified messaging, conferencing and telephony, and collaboration applications. On the basis of applications the UcaaS market can be segment into seven categories namely banking, financial services and insurance (BFSI), retail, telecom & IT, government, healthcare, hospitality and others (logistics and transportation). The unified communication as a service market can be segmented on the basis of size of enterprises which include small enterprises, medium enterprises and large enterprises. The market can also be segmented geographically into North America, Europe, Asia Pacific and Rest of the World (Latin America, Middle East and Africa).

The unified communication as a service (UcaaS) market across the globe is a multi billion market and is expected to show a substantial growth in CAGR, from 2013 to 2019. There is a significant increase in the unified communication as a service market because UcaaS model eliminates cost associated with deploying own unified communication solution.

The key drivers of this market include enhanced adoption of UcaaS solution in small and medium enterprises, low cost and enhanced service support, which are the biggest revenue generators for unified communication as a service market. The key restraints to this market are lack of awareness and security concerns.

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Some of the key players in the unified communication as a services market are IBM Corporation, Abaya Inc., Cisco Systems Inc., Microsoft Corporation, Computer Science Corporation, Hewlett-Packard Development Company, Polycom Inc., Verizon Enterprise Solutions and Voss Solutions among others.