SANTA CLARA, California, June 18, 2020
The market is projected to witness double-digit growth rates with more countries and customer segments adopting mobile UCaaS, says Frost & Sullivan
SANTA CLARA, California, June 18, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, Growth Opportunities in the European Hosted IP Telephony and UCaaS Market, Forecast to 2026, finds that the European hosted Internet Protocol (IP) telephony and Unified Communications-as-a-Service (UCaaS) market will experience slower-than-anticipated growth in terms of both users and revenue in 2020 and 2021 due to churn in the installed base and reduced new user acquisitions. It will bounce back in 2022 and maintain a steady trajectory until 2026. The market is estimated to double in terms of provider revenue from 2019 to 2026, with installed users reaching 76.3 million by the end of the forecast period.
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"Remote work mandates due to COVID-19 will create an unprecedented opportunity for service providers to promote software-based communications as a key enabler of business continuity as well as demonstrate the flexibility of UCaaS and cloud services in terms of capacity adjustments and location-agnostic services delivery," said Elka Popova, Vice President of Research, Information and Communications Technologies, at Frost & Sullivan. "The need to rapidly accommodate a larger number of remote workers and digitally transform entire organizations within a short span of time will favorably position providers with flexible packaging and pricing, efficient provisioning, and solutions that are feature-rich yet intuitive, mobile-ready, and easy to use and manage."
Popova added: "From a growth perspective, the Nordic and Benelux UCaaS markets are maturing fast, whereas considerable untapped opportunities remain in the rest of Europe, with Central and Eastern European markets likely to experience the highest growth rate due to the large addressable market in under-penetrated countries such as Russia."
To capitalize on immense opportunities presented by the hosted IP telephony and UCaaS market in Europe, market participants should focus on the following trends:
Growth Opportunities in the European Hosted IP Telephony and UCaaS Market, Forecast to 2026 is the latest addition to Frost & Sullivan's Information and Communications Technologies research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Growth Opportunities in the European Hosted IP Telephony and UCaaS Market, Forecast to 2026