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CF20: 2024's Top UCaaS Providers You Should Know
No provider can touch Microsoft's dominance in UCaaS, analysts tell Channel Futures for our latest CF20 list. Avaya, RingCentral and 8x8 also made the list. See who else did.
The best UCaaS providers are seeing strong demand due to the shift to cloud-based communications and a trend toward integrated productivity and collaboration suites.
UCaaS remains a highly competitive market with little room for newcomers. And the best UCaaS providers are continuously adding new capabilities to keep up with competitors.
This is our fourth annual “CF20” focused on UCaaS providers, and the seventh if you count our previous CP lists. Analysts share their views on what it takes to succeed with the technology. It includes an updated list and fresh views on changes in the competitive landscape.
According to Spherical Insights, the global UCaaS market was worth almost $53 billion in 2022 and should reach nearly $312 billion by 2032. That’s a compound annual growth rate of more than 19%.
Raul Castanon, unified communications and collaboration (UCC) analyst at S&P Global Market Intelligence, said while the concept of “unified” communications has been around for many years, we’re now seeing a new phase that’s characterized by a tight integration between applications and AI-enabled enhancements. Examples of this include Excel Live and Google Meet API, which bring together productivity applications with real-time communications and collaboration.
Best UCaaS Providers Expanding Into Adjacent Areas
The UCaaS market has gone through a consolidation phase, Castanon said.
S&P Global Market Intelligence's Raul Castanon