Research and Markets: UCaaS Market to Hit $25B by 2020

A new Research and Markets report projects the unified communication-as-a-service market to reach $24.88 billion by 2020 from $15.12 billion in 2015.

The report noted a growing adoption of UCaaS in retail industry vertical due to the consumer goods and retailers’ increasing need for business communication process as they transform into large enterprises, Research and Markets said Sept. 3.

Research and Markets profiles tier-one market players such as Avaya, Cisco, Microsoft, Alcatel-Lucent, Microsoft, HP, IBM, CSC, Verizon Communication, Voss and Polycom.

The report also examines the UCaaS market global trends, market landscape, venture capital fundings, and mergers and acquisitions.