A fresh Research and Markets report has projected the global unified communication-as-a-service market to achieve a compound annual growth rate of 27.50 percent from 2014 through 2019.
Research and Markets said Wednesday that factors such as productivity, agility, cost reduction and adoption of mobility in unified communication could spur the demand for UCaaS services.
“Decline in bandwidth constraints and increased Internet penetration are vital to the growth of the global UCaaS market,“ Research and Markets said.
The market, however, faces a challenge from security concerns at various levels, according to the report.
The report profiles AT&T, Avaya, Computer Sciences Corp., Cisco Systems, Google, HP, IBM and Microsoft, among other companies.