Dublin, Feb. 10, 2021 (GLOBE NEWSWIRE) -- The "Unified Communications as a Service in Healthcare - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The unified communications as a service market is expected to grow at a CAGR of 18.3% over the forecast period (2021 - 2026). The healthcare industry requires professionals to respond quickly to attend the patient. UcaaS provides this opportunity to streamline communication processes and improve the quality of patient care.
With UCaaS solutions, like cloud-based, telephony and messaging, video-conferencing, the caregivers can get access to essential data on a real-time basis. In governments across regions, such as South Korea, are also testing telemedicine to provide affordable remote patient care, thus, providing scope for UCaaS companies.
UCaaS, coupled with organizational mobility, provides numerous advantages, like real-time communications, to instantly locate and connect the caregivers, 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.
Key Market Trends
Emergence of UCaaS in Healthcare Sector
Unified Communications(UC), since its inception, has emerged as a cost-effective solution for small businesses across industries, such as IT, BFSI, and even retail. However, UCaaS, the cloud delivery of the unified communications offered by companies, like Microsoft, and IBM, among others, are shaping the way, healthcare organizations manage their communication networks.
The need for easy-to-maintain network systems that enable effective communication possible across healthcare organizations is evident, considering the old/obsolete contact centers. The availability of cloud-based systems is easing the adoption of healthcare providers, who are often categorized to have minimum IT budgets. With subscription-based UC services in place, the healthcare contact centers can establish their PBX systems and take care of multiple customer requests coming in from multiple sites.
North America to Register Significant Growth During the Forecast Period
Health organizations are positive about BYOD, since, it facilitates improved workflow, cost savings, and also better compliance with provisions of healthcare legislation, such as the US Affordable Care Act. Healthcare players are showing confidence in the adoption of BYOD, across the healthcare sector. For instance, Philips, a prominent player in healthcare electronics, reported that 68% of the healthcare organizations and providers believe that the end of 2020 will fully support BYOD. Such BYOD trends call for a centralized collaborative platform that would streamline communications and enable the healthcare providers to access patient records as to when required.
Also, the cloud adoption among the sector, which includes moving EHR systems and other enterprise applications, which traditionally ran on client-server architectures also provides scope for UC companies, offering their services over the cloud on a subscription basis.
As the majority of the cloud communication providers across the region are offering high-end cloud-based security for each customer, the barriers are eliminated, thus, making the healthcare industry an addressable market for Unified Communication-as-a-Service (UCaaS). For instance, 8x8, a US-based prominent UCaaS vendor offers UC solutions, enables healthcare organizations to meet third-party-verified compliance with HIPAA, PCI-DSS 3.1, FISMA/FIPS 140-2, and Safe Harbor regulations.
The unified communications as a service market is moderately competitive and consist of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in the UCaaS technologies across the healthcare sector, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.
December 2019 - Vodafone Idea Business Services (VIBS), the enterprise arm of Vodafone Idea Ltd. (VIL), announced the launch of Vodafone Secure Device Manager (VSDM), powered by IBM Security MaaS360, a Unified End-point Management (UEM). VSDM UEM enables trusted apps and content on any device, on-the-go delivering mobile security for the way people work. As part of the agreement with IBM, VIBS will leverage IBM Security MaaS360 to deliver an AI approach to UEM to enable endpoints, end-users, and everything in between including apps, content, and data.
December 2019 - Vonage, has partnered with Neustar, a global information services company and leader in identity resolution, to deploy a certified caller solution within the Vonage network. This is the latest of many steps Vonage has taken to address global concerns regarding the proliferation of illegal spoofing and robocalls.
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Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Technology Snapshot
5 MARKET SEGMENTATION
5.1.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.1.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ring Central Inc.
6.1.2 8X8 Inc.
6.1.3 Verizon Communications Inc.
6.1.4 Comcast Corporation
6.1.5 Vonage Holdings Inc.
6.1.6 West Corporation
6.1.7 Star2Star Communications LLC
6.1.8 IBM Corporation
6.1.9 ALE International ALE USA Inc
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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