Unified Communication As A Service Market Analysis, Size, Growth, Share, Outlook & Forecast to 2027
The global unified communication as a service market size is anticipated to reach USD 169.63 billion by 2027, exhibiting a CAGR of 23.5% over the forecast period, according to a new report by Grand View Research, Inc. Technological growth in the communications industry is expected to offer significant growth opportunities for market players. Capabilities offered by Machine Learning (ML) and Artificial Intelligence (AI) technologies are expected to change the workforce dynamics owing to the replacement of legacy enterprise voice calls by bots and intelligent virtual assistants. The integration of AI and ML algorithms with the existing communication infrastructure enables service providers to offer personalized customer relationships. The increasing adoption of AI-based communication solutions is promoting the acceptance of an increasingly connected future. These services and solutions aid professionals to streamline the workflow process by allowing data interpretation, information analysis, and better decision-making via machines. For instance, Chime, a cloud-based unified communication solution, was launched by Amazon, Inc. for video conferencing, business calls, and meetings. The rising need to improve business productivity by enhancing communication processes is expected to promote the wide-scale adoption of Unified Communications as a Service (UCaaS) solution.