Global Unified Communication-as-a-Service in Manufacturing Market - Segmented by Royalty (Performance, Mechanical – Physical, Mechanical – Digital, Synchronization), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global unified communication-as-a-service (UCaaS) in manufacturing market is expected to register a CAGR of 14.74% over the forecast period of 2018–2023. The scope of the report is limited to countries in which major players are present, like the United States, Canada, Italy, France, Germany, United Kingdom, China, Japan, etc.
Implementation of UCaaS in the day to day business operations brings various advantages, such as improved scalability, reliability, and collaboration among disparate work groups. Various costs for the companies such as on-premise deployment of communication software of arranging sophisticated systems for the communication between various channels, etc. Manufacturing units typically consist of various diverse business units, which must be in collaboration with one another, further necessitating the use of UCaaS systems in the domain. Manufacturing is one of the sectors which involves the highest mobility, owing to which the implementation of UCaaS systems is expected to improve collaboration between various domains. The investment by the number of companies in online cloud communications service is also expected to increase to approximately USD 10 billion, which emphasizes the growth of UCaaS systems in manufacturing.
Growth of Need for Mobility Driving UCaaS
Modern businesses are expeditiously deploying UCaaS in a bid to increase productivity and improve their decision-making processes. Technological advancements in IoT and Artificial Intelligence, coupled with emerging trends in the retail sector, such as workforce mobility are encouraging the adoption of UCaaS. Enterprises are constantly opting for solutions that will channel a large number of computing devices and create advanced communication infrastructure. The policies, such as bring-your-own-device is increasing the number of devices that need to be integrated with the enterprise networks. By 2020, remote and mobile workers will account for nearly 75% of the workforce in the United States alone. It offers improved productivity and collaboration by tying geographically distributed offices together by integrating and streamlining communications.
North America to have the Highest Share
Walmart had decided to invest USD 11 billion in 2017 in capital expenditures, much of which has been poured into enhancing the online presence and optimizing the workflow. Moreover, it further expects the United States e-commerce business to grow sales by roughly 40% in fiscal 2019, further driving the demand for UCaaS in e-commerce. Canada’ s retail industry trade in the month August 2017 was estimated at USD 97.97 billion, a jump of 5.9% from the same month in the previous year, citing a healthy growth rate in the industry. A dormant Canadian economy has led to consumers becoming deal-hunters, which has benefited many retail chains to position themselves on the basis of low prices, including Walmart Supercenter, Costco, and Dollarama, among others. Internet retailing continues to be a major driving factor for the growth of the consumer products market. Also, the growing health and wellness trend has reinforced the development of high-end grocery sales, taking the retail market forward.
Key Developments in the Market