Security News > 2020 > July > UCaaS market to reach $24.3 billion by 2026

The global Unified Communications as a Service market size was valued at $13.8 billion in 2019 and is anticipated to reach $24.3 billion at a CAGR of 8.4% from 2020 to 2026, according to Valuates Reports.

The key factors driving the growth of the UCaaS market size include increasing UCaaS demand from large and medium-sized enterprises and the trends towards mobility and BYOD. Factors such as developments in artificial intelligence, machine learning, and other emerging technologies will generate ample opportunities for the growth of UCaaS market size.

Increasing tablet and smartphone adoption, combined with the ongoing implementation of 5G technology, is expected to fuel the growth of UCaaS market size during the forecast period.

Based on organization types, the large enterprise segment is expected to dominate the UCaaS market size during the forecast period.

Based on the region, North America is projected to hold the largest UCaaS market share.

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