North American UCaaS growth persists despite headwinds
DUBLIN, IRELAND — The North American unified communications as a service (UCaaS) market remains on a steady growth trajectory despite recent economic and political uncertainty, according to a new report from ResearchAndMarkets.com.
While factors like COVID-19, supply chain disruptions, and the war in Ukraine have contributed to more cautious technology spending, over 50% of IT and telecom decision-makers still expect their organization’s communications budgets to increase in 2023. One quarter said recent world events are actually accelerating their investments.
Evolved remote and hybrid work models also drive UCaaS adoption in various industries. As flexible work policies enable more employees to work from anywhere, companies leverage tools like UCaaS to connect distributed workforces and enable seamless collaboration.
Moreover, significant growth potential exists in penetrating additional use cases among frontline workers and larger organizations. Value-added services like artificial intelligence (AI), contact centers, mobility, and analytics also present upsell opportunities in the market.
On the vendor side, integrated UCaaS and CCaaS platforms, vertical solutions tailored to specific workflows, and rapid innovation centered on automation will help capitalize on an expansive $210 billion total addressable market expected by 2028.
While economic uncertainty persists in the near term, structural tailwinds underpinning UCaaS remain intact over the long run.
