Market Size of UCaaS Industry in Healthcare
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 18.30 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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UCaaS in Healthcare Market Analysis
The unified communications-as-a-service market is expected to register a CAGR of 18.3% during the forecast period. The healthcare industry requires professionals to respond quickly to attend to the patient. UcaaS provides this opportunity to streamline communication processes and improve the quality of patient care.
- The advent of cost-effective cloud-based solutions has seen increased adoption from healthcare providers, often categorized as having minimum IT budgets. With the subscription-based United Communication services in place, the healthcare contact centers are establishing their PBX systems and seamlessly addressing multiple customer requests from multiple sites.
- With UCaaS solutions, like cloud-based telephony, messaging, and video-conferencing, caregivers can access essential data in real time. Governments across regions, such as South Korea, are also testing telemedicine to provide affordable remote patient care, thus, giving scope for UCaaS companies.
- UCaaS, coupled with organizational mobility, provides numerous advantages, like real-time communications to locate and connect the caregivers instantly, effective call routing, and faster connections regardless of location (possible through feature-rich smartphones), and also enables the healthcare organization to establish rules and reduce interruptions and distractions from ER rooms to surgeries.
- Due to its simplicity, the old UC system is preferred by most enterprises. Large organizations are hesitant to employ UCC services since it is difficult for them to distinguish between standard hosted and managed UCC platforms. The move from traditional PBX communication to UCC will necessitate a faster adoption of the capabilities by the entire workforce to utilize the features thoroughly. As a result, pressure is placed on a company's IT department, which may disrupt the timeframe.
- UCaaS platforms enable healthcare businesses to keep internal and external communications running during the COVID-19 pandemic by keeping workers connected by phone, setting up virtual team meetings through video conferencing and online doctor consultancy, and setting up cloud-based platforms that enable contact centers to keep up with customer service even when in-hospital work is being completed. Post-pandemic, the market is growing rapidly with the digital transformation of the healthcare sector.
UCaaS in Healthcare Industry Segmentation
Unified communications-as-a-service in healthcare is a delivery model wherein various collaboration and communication services and applications are outsourced to a third-party provider and delivered over a network across the healthcare sector. UCaaS technologies include presence technology and enterprise messaging, video conferencing and telephony. Also, the increasing deployment of artificial intelligence has greatly aided organizations in catering to the digital transformation goal. AI-powered tools have allowed organizations to intuitively record calls, facilitate effortless transcriptions, and intelligently track speakers to understand users' needs and offer relevant services.
The unified communications-as-a-service in healthcare market is segmented by geography (North America (United States, Canada), Europe (Germany, United Kingdom, France, Rest of Europe), Asia-Pacific (China, Japan, South Korea, Rest of Asia Pacific), and the Rest of the World).
The market sizes and forecasts are provided in terms of value in USD million for all the above segments.
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UCaaS Market in Healthcare Size Summary
The Unified Communications as a Service (UCaaS) market in healthcare is experiencing significant growth, driven by the need for efficient and streamlined communication processes to enhance patient care. This cloud-based solution allows healthcare providers to adopt cost-effective, subscription-based services that integrate telephony, messaging, and video conferencing. These tools enable real-time access to essential data, facilitating quick responses from healthcare professionals. The shift from traditional PBX systems to UCaaS platforms is supported by the increasing deployment of artificial intelligence, which aids in call management and service personalization. The pandemic has further accelerated the adoption of UCaaS, as it has proven essential in maintaining communication continuity through virtual meetings and cloud-based platforms, thereby supporting the digital transformation of the healthcare sector.
The UCaaS market is characterized by a fragmented landscape with major players like RingCentral Inc., 8X8 Inc., Verizon Communications Inc., and Comcast Corporation, alongside emerging companies expanding their presence in developing regions. These companies are leveraging strategies such as partnerships, mergers, and acquisitions to enhance their service offerings and gain a competitive edge. The market is poised for further growth with advancements in 5G and edge networking, which promise to enhance real-time communication capabilities. Notable developments include RingCentral's partnership with Avaya Inc. to simplify communications and Ericsson's acquisition of Vonage Holdings Inc., which strengthens its enterprise communication solutions. These strategic moves underscore the industry's focus on integrating advanced technologies to improve operational efficiency and patient experiences in healthcare settings.
UCaaS Market in Healthcare Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Force Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Impact of COVID-19 on the Market
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1.4 Technology Snapshot
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2. MARKET SEGMENTATION
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2.1 By Geography
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2.1.1 North America
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2.1.1.1 United States
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2.1.1.2 Canada
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2.1.2 Europe
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2.1.2.1 Germany
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2.1.2.2 United Kingdom
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2.1.2.3 France
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2.1.2.4 Rest of Europe
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2.1.3 Asia-Pacific
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2.1.3.1 China
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2.1.3.2 Japan
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2.1.3.3 South Korea
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2.1.3.4 Rest of Asia-Pacific
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2.1.4 Rest of the World
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UCaaS Market in Healthcare Market Size FAQs
What is the current UCaaS Healthcare Market size?
The UCaaS Healthcare Market is projected to register a CAGR of 18.30% during the forecast period (2024-2029)
Who are the key players in UCaaS Healthcare Market?
Ring Central Inc., 8X8 Inc., Verizon Communications Inc., Comcast Corporation and Vonage Holdings Inc. (Ericsson) are the major companies operating in the UCaaS Healthcare Market.