VoIPstudio on the Increased Popularity of UCaaS
UCaaS is going to dominate 2020, say VoIPstudio
A report by Synergy Research points to UCaaS experiencing exponential growth in the coming years. Forty percent year-over-year growth, to be exact. Researchers at Synergy say the ease of customization, flexible nature, and pay-as-you-go model of CPaaS that help it thrive and gain swelling popularity.
Rob Seymour, Marketing Director, VoIPstudio, told me VoIP is experiencing an evolution of sorts, and customers crave more features that help them stay competitive.
“Offering world-class service is the reason why most eventually make the move to UCaaS. It is also likely the reason why the market is experiencing such exponential growth”
With growth and prosperity in mind, it’s never been a better time to be a UCaaS enabler, according to Seymour. He maintains we’re going to see “An explosion of offerings, some world-class, and some not-so-great.” He added, those who do UCaaS well, stand to gain a lot from entering the market.
UCaaS is True UC
Consolidation is the name of the game in unified comms. Making sure customers can contact your enterprise no matter the method they choose is bigger than ever before. And UCaaS is one of the biggest enablers of this concept, omni-channel.
You can think of UCaaS platforms as VoIP, if it took steroids, as it offers way more than just voice calling features. Looking for video/web conferencing, instant messaging, faxing, and team collaboration? UCaaS extends these capabilities and much more. Seymour interjected, stating:
“One of the biggest benefits of UCaaS is that it lets enterprises centralize online communications into a single oftentimes easy-to-manage platform”
And the advantages of this are appealing to enterprise leaders. Rather than buying separate tools for messaging, voice, video, etc., companies now have a single solution that pretty much does everything they need out of the box.
APIs are Going to Be Huge in the Coming Years
Another element of UCaaS is what largely enables the technology to be so robust in the first place, APIs. According to Market Watch, the global revenue for UCaaS should reach $62 billion in revenue by 2024. And that is massive when you consider that the market is still immature.
The report highlights, “Global communication service providers continue to see telecom APIs as a means of leveraging their network and subscriber assets to generate revenues with higher margins.” The problem, as report expands on, is that enterprises continue to rely on third-party players. “While this model may suffice for CSPs concerning consumer segment and SMBs, it is not sustainable for large corporate clients.”
As such, companies like Ribbon Communications and AT&T have launched API marketplaces, which deliver a turn-key solution to enterprise comms, something Seymour said is wise. The report further found the total global telecom API related revenue will reach $442 billion by 2024, meaning there’s big money in APIs in the coming years.
It also found enterprise-hosted deployment will grow fastest through the forecast period, and Seymour said understanding and capitalizing on why is key to understanding the relationship between UCaaS and APIs and ultimately succeeding in UCaaS as more companies seek to enhance CX with advanced platforms.