8x8 and RingCentral Lead the UCaaS Market; Mitel Grows the Fastest
RENO, NV, November 20, 2014
New Q3 data from Synergy Research Group show that 8x8 and RingCentral continue to lead the UCaaS business suite market, with each having a worldwide market share of just under 13%. However, among the leaders Mitel is growing the fastest with a 60% year-on-year increase in revenue and a more than twofold increase in subscribers. Meanwhile total market revenues keep growing by over 30% year-on-year.
OTT UCaaS accounted for 57% of quarterly business suite revenues and private circuit UCaaS accounted for 30%, with the balance coming from hybrid deployments. North America continues to account for over 85% of worldwide revenues due to the under-developed nature of the market in other regions. Currently integrated UCaaS offerings account for just 9% of all managed and hosted business voice subscribers worldwide, leaving significant opportunity for growth.
“This is an exciting and disruptive market which is shaking up the old order in enterprise communications, enabling UC to be more broadly adopted in smaller offices and planting the seed for cloud deployments in mid-to-large enterprises,” said Synergy Research Group’s founder and Chief Analyst Jeremy Duke. "The recent tussle between Mitel and ShoreTel clearly demonstrates how important UCaaS and cloud are to traditional enterprise UC vendors and we expect to see more such activity.”
About Synergy Research Group
Synergy Research Group, now part of TechInsights, delivers quarterly analyses of global IT and Cloud markets, offering detailed breakouts of vendor revenues and shipments by segment and region. Market shares and forecasts are provided through Synergy Interactive Analysis (SIA™) — the industry's only fully proprietary SaaS platform purpose-built for market share and forecasting analytics.
For more than 25 years, Synergy has been a trusted source of quantitative research and market intelligence across emerging communications and technology sectors. By combining syndicated research with specialized consulting, we deliver actionable intelligence to marketing and strategy executives worldwide.
A trusted source of accurate market data, Synergy is cited by industry leaders as well as leading financial, business, and trade publications such as The Economist, The New York Times, The Wall Street Journal, United States Federal Reserve Board, NPR, Forbes, Bloomberg, Financial Times, Bank of England, Fortune, and The Guardian.
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