The market for business cloud VoIP & UC services in the business cloud is anticipated to reach US$ 17,255.4 million in 2022 and US$ 51,224.2 million in 2032. Between 2022 and 2032, the market for enterprise cloud VoIP & UC services is anticipated to expand at a CAGR of 11.5%. To lower operating costs, boost revenue, and strengthen customer interactions, businesses have started implementing Unified Communications (UC) solutions, which are anticipated to promote market growth throughout the projection period.
The primary factor driving the expansion of the global business cloud VoIP & UC services market is the government and commercial sector’s ongoing embrace of cloud services. Business cloud VoIP is a voice-over internet protocol (VoIP) technology that uses the cloud to transmit speech and multimedia across IP networks. The combination of cloud hosting and VoIP technology, which enables next-generation calling features an integrated mobile access, is known as business cloud VoIP and UC.
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For instance, a unified communications (UC) solution using hosted messaging, collaboration, and voice-over IP (VoIP) phone services from Microsoft, including hosted versions of Office Communications Server, Exchange, and SharePoint, can enhance the efficiency of Office collaboration and communication. Mobility, collaboration, and communication-enabled business processes (CEBP) are some of the components of unified communication. Other components include calling (voice, video), messaging (phone, video, email, instant messaging), and conferencing (voice, web, and video).
Business Cloud VoIP & UC Services Market: Market Dynamics
The business sector is rapidly migrating to cloud solutions, also rising interest in cloud-based communications solutions, and growing enterprise awareness of hosted VoIP solutions coupled with the rising importance of the collaborative work environment to enhance productivity, are the prominent factor contributing to the growth of global business cloud VoIP & UC services market.
Additionally, growing preference from organizations across various industries to eliminate redundant infrastructure of the traditional communicant system, increase overall business productivity, and reduce the costs of communications accelerates the growth of the global business cloud VoIP & UC services market. Convergence of Internet of Things & unified communications, a hybrid approach to hosted VoIP, and delivery of unified communications as a service (UCaaS) are some of the notable trends in the global business cloud VoIP & UC services market.
However, the technological complexity to implement unified communication across the organization and challenges in identifying the technologies, services, and features based on the specific business needs is identified as restraints likely to deter the progression of the global business cloud VoIP & UC services market.
Business Cloud VoIP & UC Services Market: Regional Outlook
Among all regions cloud VoIP & UC services market in North America is expected to dominate the market due to expanding SIP trunk infrastructure and high priority for communications-enabled business processes. In terms of revenue, Asia-Pacific is identified as the fastest growing cloud VoIP & UC services market, increasing demand for cost-effective enterprise communication solutions and expanding mobile and remote workforce
Business Cloud VoIP & UC Services Market: Competition Landscape
Cisco, Verizon Enterprise, AT&T Inc., EarthLink, Inc., XO Communications, LLC, Evolve IP, LLC, Momentum Telecom, West Unified Communications Services Inc., New Horizon Communications, 8×8, Inc., and BroadSoft.
Key Segments Profiled in the Global Business VoIP & UC services market
Business VoIP & UC Services Market by Component:
- Business Cloud VoIP & UC Services in Software
- Business Cloud VoIP & UC Services in Services
Business VoIP & UC Services Market by Vertical:
- Business Cloud VoIP & UC Services for BFSI
- Business Cloud VoIP & UC Services for Information Technology
- Business Cloud VoIP & UC Services for Government
- Business Cloud VoIP & UC Services for Healthcare
- Business Cloud VoIP & UC Services for Retail
- Business Cloud VoIP & UC Services for Energy & Utilities
- Business Cloud VoIP & UC Services for Manufacturing
- Business Cloud VoIP & UC Services for Other Verticals
Business VoIP & UC Services Market by End User:
- Business Cloud VoIP & UC Services for Small & Medium Enterprises
- Business Cloud VoIP & UC Services for Large Enterprises
Business VoIP & UC Services Market by Region:
- North America Business Cloud VoIP & UC Services Market
- Latin America Business Cloud VoIP & UC Services Market
- Europe Business Cloud VoIP & UC Services Market
- Asia Pacific Business Cloud VoIP & UC Services Market
- Middle East & Africa Business Cloud VoIP & UC Services Market
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