The global business cloud VoIP & UC services market is expected to be worth US$ 17,255.4 million in 2022, rising to US$ 51,224.2 million by 2032. The global business cloud VoIP & UC services market is expected to grow at an 11.5% CAGR between 2022 and 2032. Organizations have begun to implement Unified Communications (UC) solutions in order to reduce operating expenses, increase revenue, and develop customer relationships, which is expected to support market growth during the forecast period.
Continuous adoption of cloud services by the government and business sector is the key factor contributes the growth of global business cloud VoIP & UC services market. Business cloud VoIP is a cloud-based voice over internet protocol (VoIP) technology which delivers voice and multimedia over Internet Protocol (IP) networks. Business cloud VoIP and UC is the convergence of cloud hosting and VoIP technology that allow next-generation calling features and integrated mobile access.
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For example, Unified Communications (UC) solution utilizing Microsoft’s hosted messaging, and collaboration tools – such as Microsoft Office communications server, Microsoft Exchange, and Microsoft SharePoint, integrated with hosted voice over IP (VoIP) phone service helps improve fluidity of office collaboration and communication. Unified communication includes various components such as calling (voice, video), messaging (voice, video, email, instant messaging), conferencing (voice, web, and video), mobility, collaboration, and communication-enabled business processes (CEBP)
Business Cloud VoIP & UC Services Market: Market Dynamics
Business sector is rapidly migrating to cloud solutions, also rising interest in cloud-based communications solutions, and growing enterprise awareness on hosted VoIP solution coupled with rising importance for the collaborative work environment to enhance productivity, are the prominent factor contributes the growth of global business cloud VoIP & UC services market.
Additionally, growing preference from organizations across various industries to eliminate redundant infrastructure of the traditional communicant system, increase overall business productivity, and to reduce the costs of communications accelerates the growth of global business cloud VoIP & UC services market. Convergence of internet of things & unified communications, hybrid approach to hosted VoIP, and delivery of unified communications as a service (UCaaS) are some of the notable trends the global business cloud VoIP & UC services market.
However, technological complexity to implement unified communication across the organization and challenges identifying the technologies, services, and features based on the specific business needs is identified as restraints likely to deter the progression of global business cloud VoIP & UC services market.
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Business Cloud VoIP & UC Services Market: Regional Outlook
Among all regions cloud VoIP & UC services market in North America is expected to dominate the market due to expanding SIP trunk infrastructure and high priority for communications-enabled business processes. In terms of revenue, Asia-Pacific is identified as the fastest growing cloud VoIP & UC services market, increasing demand for cost effective enterprise communication solutions and expanding mobile and remote workforce
Business Cloud VoIP & UC Services Market: Competition Landscape
Cisco, Verizon Enterprise, AT&T Inc., EarthLink, Inc., XO Communications, LLC, Evolve IP, LLC, Momentum Telecom, West Unified Communications Services Inc., New Horizon Communications, 8×8, Inc., and BroadSoft.
Key Segments Profiled in the Global Business VoIP & UC services market
Business VoIP & UC Services Market by Component:
- Business Cloud VoIP & UC Services in Software
- Business Cloud VoIP & UC Services in Services
Business VoIP & UC Services Market by Vertical:
- Business Cloud VoIP & UC Services for BFSI
- Business Cloud VoIP & UC Services for Information Technology
- Business Cloud VoIP & UC Services for Government
- Business Cloud VoIP & UC Services for Healthcare
- Business Cloud VoIP & UC Services for Retail
- Business Cloud VoIP & UC Services for Energy & Utilities
- Business Cloud VoIP & UC Services for Manufacturing
- Business Cloud VoIP & UC Services for Other Verticals
Business VoIP & UC Services Market by End User:
- Business Cloud VoIP & UC Services for Small & Medium Enterprises
- Business Cloud VoIP & UC Services for Large Enterprises
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Business VoIP & UC Services Market by Region:
- North America Business Cloud VoIP & UC Services Market
- Latin America Business Cloud VoIP & UC Services Market
- Europe Business Cloud VoIP & UC Services Market
- Asia Pacific Business Cloud VoIP & UC Services Market
- Middle East & Africa Business Cloud VoIP & UC Services Market
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