UCaaS stands for Unified Communications as a Service. This model is rapidly becoming a versatile solution for companies with complex communication needs. In 2020, UCaaS revenue amounted to $ 16.4 billion (an increase of 21.2% compared to 2019). The industry is expected to grow 28-29% annually by 2024. Most of the vendors' revenue comes from the provision of web and video conferencing and contact center services.
According to the study, 52% of midsize businesses in the US, Europe and Asia are currently using UCaaS solutions, and 56% are considering migrating to UCaaS. For many organizations, the question is no longer whether they should move to the cloud, but when they are going to start that transition.
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