HOME › Research Insight › BT Group and 8x8, Inc. are Leading Players in Unified Communication as a Service (UCaaS) Market
BT Group and 8x8, Inc. are Leading Players in Unified Communication as a Service (UCaaS) Market
The Unified Communication as a Service (UCaaS) market is expected to gain traction globally as UCaaS solutions help in enhancing the communication experience and strategies of an organization. The major driving factors for the UCaaS market are the growing Small and Medium Businesses (SMBs) that have employees ranging from 10 to 3,000 and are inclined to implement UCaaS. Such business setups move from traditional on-premises communication solutions to modern, user-centric business communication as a service offering. However, factors such as lack of lack of awareness of UCaaS solutions and infrastructure problems are the major restraints for the UCaaS market. The global UCaaS market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 10.6% from 2016 to 2021.
Technological giants such as Cisco Systems (U.S.), Computer Science Corporation (U.S.), BT Group (U.K.), 8x8 (U.S.), West Corporation (U.S.), Microsoft Corporation (U.S.), Voss Solutions (U.S.), Verizon Communication (U.S.), Star2star Communications (U.S.), and Polycom, Inc. (U.S.) offer leading UCaaS services to cater to the needs and demands of the market. These players adopted various growth strategies, such as expansions, acquisitions, and joint ventures, along with partnerships and new product launches that were the key strategies. Partnerships and new product launches have been a major strategic trend, accounting for more than half of the market share of all the growth strategies adopted by the major market players.
BT Group is one of the eminent leaders in the UCaaS market. The organization has a noteworthy presence in more than 180 countries, and primarily serves the regions of the U.K., EMEA, and the Americas. BTís long-term strategy lean more towards inorganic growth, where they hope to include more mergers & acquisitions and partnership & agreements. Acquisition of EE Ltd. and partnership with Oracle Corporation clarifies that BT Group will be further putting resources into its inorganic growth strategy for cementing its market leader position in the UCaaS market.
8x8, Inc. is another such prominent player in the market. The fundamental objective of 8x8 is to meet every industry client requirement and in addition provide new advancements in the UCaaS market. The organization serves clients across different industries, for example, government, education, healthcare, high-tech, insurance, legal, transportation, and outsourcing/consulting. The company has a worldwide presence over America, Europe, and APAC. The organization follows both organic as well as inorganic strategies to deal with expansion of its market share. Recently, it has introduced a virtual contact center solution. This solution connects an organizationís international agent over a single platform, under its new product launch strategy.
Unified Communication as a Service (UCaaS) Market by Component (Telephony, Unified Messaging, Conferencing), Organization Size (Small, Medium, and Large), Industry (BFSI, Telecom & IT, Consumer Goods & Retail), and Region - Global Forecast to 2021
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