Research and Markets published a new “Growth Opportunities in the North American UCaaS Market” report.
Despite adverse macro-economic and socio-political conditions, and somewhat contrary to supply-side anecdotal evidence, the data collected in January 2023 indicated a positive outlook on communications spending with slightly more than 50 percent of North American IT and telecom decision makers expecting communications budgets to increase. In fact, one-quarter of survey respondents reported that political and macro-economic events are accelerating their overall digital technology investments.
The North American UCaaS market is expected to remain on a steady growth trajectory. Evolved work models are among the leading drivers for cloud communications adoption. Organizations embracing flexible work styles and supporting a large number of remote and hybrid workers are leveraging UCaaS and cloud collaboration solutions to enable flexible and cost-effective connections among employees and between employees and various external parties. Untapped use cases among frontline workers and mid-market and large organizations, as well as upsell opportunities driven by AI-powered services, contact center features, vertical solutions, next-generation mobile services and fee-based complementary services such as call recording, archiving, push to talk, reporting and analytics are going to drive continued UCaaS adoption and incremental revenues.
From the supply side, new provider models, value propositions, and sales motions, as well as rapid, primarily AI-driven innovation, will play a key role in addressing an expanded array of use cases. The continued launches of integrated UCaaS and CCaaS solutions will enable providers to not only generate incremental revenues in the adjacent CCaaS market, but also address additional personas within the organization with differentiated capabilities provided at premium, yet compelling price levels.
For the purposes of this study, the publisher considered multi-instance and multi-tenant hosted IP telephony offerings to be cloud PBX solutions. The supporting infrastructure can be hosted in a service provider or third-party data center, or in a public cloud environment such as AWS, Google Cloud, Microsoft Azure or Oracle Cloud.
This market analysis provides valuable insights on UCaaS market growth drivers and restraints, competitive factors and growth opportunities.
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