Global Unified Communications As-a-Service (UCaaS) is expected to reach $7.62bn by 2018, growing from $2.52bn in 2013, according to a new report.
A report by MarketsandMarkets reveals that the UCaas market is expected to grow at a CAGR of 24.8% in next five years.
Analysts believe that the growth will be driven by the emergence of video technology and collaboration application.
The UCaaS Telephony market is expected to reach $2.48bn in 2018, compared to $0.87bn in 2013, growing at a CAGR of 23.3% during the period.
UCaaS collaboration application will grow at a rate of 26.5% reaching &1.75bn in 2018.
Dominant players in the market will be Avaya, Cisco, Microsoft, Alcatel-Lucent, Panterra networks, Interactive intelligence, Siemens enterprise communications, Mitel, CSC, and NEC.