The global unified communications as a service (UCaaS) market is set to be worth nearly $70bn by 2028, according to research from Fortune Business Insights.
The growth will come from a base of $29bn in 2021, the research firm said, representing a compound annual growth rate (CAGR) of 13.4 percent between this year and 2028.
Fortune said that the increased size of the market is being driven by the digital transformation and the surge in cloud adoption and migration.
The pandemic, has, of course, played a huge role in driving businesses towards collaboration tools – often as part of a unified offering. The expected prominence of hybrid working and distributed workforces will also contribute to the rise in UCaaS.
Other trends include the merging of unified comms solutions with CPaaS and CCaaS into integrated offerings, with Fortune said will drive UCaaS adoption.
Fortune also said that the rise in programmable communications has stimulated the market.
It added that APIs are giving developers the ability to build applications around communications to help streamline business comms and complex business processes.
