The global business cloud VoIP & UC services market is anticipated to secure US$ 18,929.2 million in 2023 and US$ 55,383.1 million by 2033. From 2023 to 2033, the global business cloud VoIP & UC services market is projected to record a CAGR of 11.3%. Organizations have started to adopt Unified Communications (UC) solutions to lessen operating expenses, boost revenues, and develop customer relationships, which is anticipated to support market growth during the forecast period.
| Data Points | Key Statistics |
|---|---|
| Projected Growth Rate (2023 to 2033) | 11.3% CAGR |
| Expected Market Value (2023) | US$ 18,929.2 million |
| Anticipated Forecast Value (2033) | US$ 55,383.1 million |
Owing to the flexibility offered by such solutions, companies can scale up their communication requirements during peaks in user requests and processing functions, increasing the demand for cloud VoIP and UC solutions. Increased deployment of UCC tools and services ensures business continuity and secure communications, which will benefit the industry in the forthcoming period.
In 2020, Zoom Video Communications, Inc. revealed a 370% increase in UCC tool sales against 2019. Similarly, Microsoft Teams crossed 145 million active users in April 2021, a 26% increase compared to October 2020.
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SMEs and Large Enterprises to Play a Major Role in Strengthening the Market
SMEs that have employees ranging from 1 to 999 are showing a significant inclination toward business cloud VoIP & UC services. Such business setups move from traditional on-premises communication solutions to modern, user-centric business communications-as-a-service offerings.
As per a survey performed in 2019, 68% of large enterprises and 46% of small enterprises planned to adopt some form of UC in the coming two years. SMEs are looking to streamline expenses and lessen complications wherever possible, as they have budget constraints for dedicated telecommunication and IT service providers.
The business cloud VoIP & UC growth is projected to be strengthened by organizations increasing operations in emerging and frontier markets. Moreover, the need to maintain a presence in developing markets to compete with players, startups and smaller companies are taking initiatives to implement such technologies, which will augment the market size in the coming time.
Increasing Adoption of IoT to Offer Various Opportunities for Expansion
Business VoIP & UC service provides real-time communications to assure the smooth collaboration of people. IoT has a notable impact on the development of UC. IoT can be used to send messages to people with an automated system. These messages are sent through data gathered from real-time activities.
Lately, IoT in a particular healthcare application has gained notable traction. For this purpose, IoT is used in a heart monitor device wherein the nurse or related attendee would be notified of any critical or distressful condition of the heart through an automated medium. The deployment of IoT in a heart monitor can help study the condition of a patient's heart by amassing crucial data and running it through a pre-processed algorithm.
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Concerns Associated with Data Security to Hinder the Market Growth
Despite various advantages, the market is expected to suffer in the coming time due to growing concerns regarding data security. Further, interoperability issues with existing assets are another factor that can impact the market negatively in the coming time. However, the increasing popularity of Cloud VoIP and UC services is expected to counter the hampering factors and boost market growth in the coming period.
Increasing Number of Cross-Functional Teams to Encourage Uptake across Large Enterprises
By end user, the large enterprise sector is expected to have accounted for the largest revenue share of 58.2% in 2023. Factors like growing business operations and rising cross-functional teams and remote workers have encouraged corporations to deploy unified communication solutions at the enterprise level to ensure seamless communication practices.
The need to engage in quick meetings and update co-workers about vital strategies has led to the higher acceptance of unified communication solutions. In addition, features like video conferencing, broadcasting and webinars, VoIP calling, and screen & file sharing assist to boost business operations and save time.
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Rising SIP Trunk Infrastructure to Boost the Market in North America
As per the analysis, the global business cloud VoIP & UC services market is anticipated to dominate North America during the forecast period. 2023 the region is expected to secure 30.4% of global revenue.
This growth can be attributed to the rising SIP trunk infrastructure and the high priority given to business activities that depend on communications. In North America, UCaaS accounted for 43% of VoIP service revenue in CY21, while SIP trunking and managing IP PBX and UC accounted for 31% and 27%, respectively. This growth is a result of VoIP's many benefits.
Rapid Globalization across the Region, especially in Germany, to Boost the Regional Market
By 2023, Europe is likely to secure approximately 21.5% of the global market share. Europe is predicted to be the second-largest market during the forecast period. One of the major factors boosting the growth of the Business VoIP & UC services market in Europe is the UCaaS (Unified Communication AS-A-Service) market there.
Further, rapid globalization in Germany has offered various opportunities. In July 2021, it was reported that European distribution sales of Unified Communications (UC) products surged by 76% in Q1 2021, with Germany being a substantial region for industry expansion.
Government Initiatives Taken to Encourage Digital Infrastructure in the Region to Favor the Market
Asia Pacific is anticipated to be the most lucrative market during the forecast period. The growth in this market is driven by the increasing adoption of cloud and mobility trends in developing countries, such as China, Australia and New Zealand, India, and Japan.
Government initiatives to encourage digital infrastructure are also increasing the adoption of UCC solutions in the region. The rapid adoption of UCC solutions in the Asia Pacific has made it highly remunerative and one of the fastest-growing markets globally.
Dialpad (USA), Simpplr (USA), Agora (China), Weave (USA), LogMeIn (USA), Skype (Luxembourg), and Fuze (USA), among others, are some of the new players garnering attention in the market. Players are adopting novel technologies to earn a competitive edge in the market.
Key players in the global business cloud VoIP and UC Services market include Cisco, Verizon Enterprise, AT&T Inc., EarthLink, Inc., XO Communications, LLC, Evolve IP, LLC, Momentum Telecom, West Unified Communications Services Inc., New Horizon Communications, 8x8, Inc., and BroadSoft.
Recent Development in the Industry Include:
| Report Attributes | Details |
|---|---|
| Growth Rate | 11.3% CAGR from 2023 to 2033 |
| Market Value in 2023 | US$ 18,929.2 million |
| Market Value in 2033 | US$ 55,383.1 million |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | US$ million for Value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization Scope | Available upon Request |
The market is valued at US$ 18.9 billion in 2023.
Cisco, Verizon Enterprise, and AT&T Inc.are key market players.
Large enterprise sector is likely to remain preferred through 2033.
Increasing adoption of IoT to boost the growth.
North America to hold a market share of 30.4% in 2023.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033
5.3.1. Software
5.3.2. Services
5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Vertical, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vertical, 2023 to 2033
6.3.1. BFSI
6.3.2. Information Technology
6.3.3. Government
6.3.4. Healthcare
6.3.5. Retail
6.3.6. Energy & Utilities
6.3.7. Manufacturing
6.3.8. Others
6.4. Y-o-Y Growth Trend Analysis By Vertical, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Vertical, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By End User , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User , 2023 to 2033
7.3.1. Small & Medium Enterprises
7.3.2. Large Enterprises
7.4. Y-o-Y Growth Trend Analysis By End User , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End User , 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. USA.
9.2.1.2. Canada
9.2.2. By Component
9.2.3. By Vertical
9.2.4. By End User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Component
9.3.3. By Vertical
9.3.4. By End User
9.4. Key Takeaways
10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Component
10.2.3. By Vertical
10.2.4. By End User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Vertical
10.3.4. By End User
10.4. Key Takeaways
11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom.
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Component
11.2.3. By Vertical
11.2.4. By End User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Vertical
11.3.4. By End User
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Component
12.2.3. By Vertical
12.2.4. By End User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Vertical
12.3.4. By End User
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Component
13.2.3. By Vertical
13.2.4. By End User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Vertical
13.3.4. By End User
13.4. Key Takeaways
14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Component
14.2.3. By Vertical
14.2.4. By End User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Component
14.3.3. By Vertical
14.3.4. By End User
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Component
15.2.3. By Vertical
15.2.4. By End User
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Component
15.3.3. By Vertical
15.3.4. By End User
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA.
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2022
16.1.2.1. By Component
16.1.2.2. By Vertical
16.1.2.3. By End User
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2022
16.2.2.1. By Component
16.2.2.2. By Vertical
16.2.2.3. By End User
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2022
16.3.2.1. By Component
16.3.2.2. By Vertical
16.3.2.3. By End User
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2022
16.4.2.1. By Component
16.4.2.2. By Vertical
16.4.2.3. By End User
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2022
16.5.2.1. By Component
16.5.2.2. By Vertical
16.5.2.3. By End User
16.6. United Kingdom.
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2022
16.6.2.1. By Component
16.6.2.2. By Vertical
16.6.2.3. By End User
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2022
16.7.2.1. By Component
16.7.2.2. By Vertical
16.7.2.3. By End User
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2022
16.8.2.1. By Component
16.8.2.2. By Vertical
16.8.2.3. By End User
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2022
16.9.2.1. By Component
16.9.2.2. By Vertical
16.9.2.3. By End User
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2022
16.10.2.1. By Component
16.10.2.2. By Vertical
16.10.2.3. By End User
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2022
16.11.2.1. By Component
16.11.2.2. By Vertical
16.11.2.3. By End User
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2022
16.12.2.1. By Component
16.12.2.2. By Vertical
16.12.2.3. By End User
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2022
16.13.2.1. By Component
16.13.2.2. By Vertical
16.13.2.3. By End User
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2022
16.14.2.1. By Component
16.14.2.2. By Vertical
16.14.2.3. By End User
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2022
16.15.2.1. By Component
16.15.2.2. By Vertical
16.15.2.3. By End User
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2022
16.16.2.1. By Component
16.16.2.2. By Vertical
16.16.2.3. By End User
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2022
16.17.2.1. By Component
16.17.2.2. By Vertical
16.17.2.3. By End User
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2022
16.18.2.1. By Component
16.18.2.2. By Vertical
16.18.2.3. By End User
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2022
16.19.2.1. By Component
16.19.2.2. By Vertical
16.19.2.3. By End User
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2022
16.20.2.1. By Component
16.20.2.2. By Vertical
16.20.2.3. By End User
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2022
16.21.2.1. By Component
16.21.2.2. By Vertical
16.21.2.3. By End User
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2022
16.22.2.1. By Component
16.22.2.2. By Vertical
16.22.2.3. By End User
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2022
16.23.2.1. By Component
16.23.2.2. By Vertical
16.23.2.3. By End User
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Component
17.3.3. By Vertical
17.3.4. By End User
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Cisco
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. Verizon Enterprise
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. AT&T Inc.
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. Thrive Capital
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. Kyndryl
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. Torchsec Technologies LLC
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. Evolve IP LLC
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. Momentum Telecom
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. West Unified Communications Services Inc.
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. New Horizon Communications
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.11. 8x8 Inc.
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.12. BroadSoft
18.1.12.1. Overview
18.1.12.2. Product Portfolio
18.1.12.3. Profitability by Market Segments
18.1.12.4. Sales Footprint
18.1.12.5. Strategy Overview
18.1.12.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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Business Cloud VoIP & UC Services Market
