Unified Communication as a Service (UCaaS) simplifies communications for different end-user verticals by providing a one-stop solution for all their organizational collaborations & communications. With the mounting digital transformation across companies in Latin America, the demand for UCaaS is also rising substantially.
According to MarkNtel Advisors, the Unified Communication as a Service (UCaaS) Market across Latin America is likely to witness a notable growth during 2022-27. The most prominent factors driving the market are:
- Incorporation of Artificial Intelligence (AI) & Machine Learning in UCaaS among enterprises to automate responses to unified communication users & contact center customers
- Rising preference of Voice Over Internet Protocol (VoIP) solutions over conventional PBX (Private Branch Exchange) telephone systems across organizations
- UCaaS offers advanced communication infrastructure with facilities like intuitive call recording, monitoring speakers in conferences, hassle-free transcriptions, etc.
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Needless to say, these factors have significantly profited the market and now display an opportunistic growth prospect for the leading market players like Avaya Inc., Zoom Video Communications, Sencinet, Orange Business Services, Cisco, Google, Microsoft, NTT Communications, Mitel, & LogMeIn.
We all know that in 2020, the Covid-19 pandemic severely impacted most industries across Latin America yet, altered the ways of working, learning, & communicating. With this, the Unified Communication as a Service Market in Latin America witnessed positive influences of the pandemic.
The different ways in which the governments of Latin American countries responded to curb the spread, including the imposition of stringent movement restrictions & lockdowns, led to accelerating adoption of work from home trends overnight. It was the time when the UCaaS market found lucrative opportunities to transit into a suitable model for companies to facilitate seamless communication remotely.
With more & more organizations shifted toward Work-from-Home, the demand for cloud-based UCaaS models to facilitate better communication among employees and enhance overall enterprise productivity using collaborative tools & platforms surged substantially amidst the crisis and boosted the market.
Market leaders like Zoom Video Communications supported numerous K-12 schools by offering free video conferencing UCaaS tools amidst the Covid-19 crisis. With such massive adoption, it became one of the leading providers of video & collaboration solutions amidst the crisis.
Hence, all the factors cited above hint toward the substantial growth of the Latin America Unified Communication as a Service (UCaaS) Market in the coming years, which would create a pool of lucrative opportunities for the leading players.