RingCentral is leading the global UCaaS market with 18 percent share in Q2 2018. Mitel is in the second position with 16 percent share.
8×8 has 13 percent share of the worldwide UCaaS market. Cisco and Vonage have 7 percent share each.
More than 300,000 UCaaS subscriber seats were added to the global installed base, which continues to grow by over 25 percent per year.
Early adoption of UCaaS was driven by small-medium businesses and SMBs still account for the largest share of the market. The market is moving increasingly to large enterprises where subscriber growth rate is now more than double that of SMBs.
RingCentral and Mitel account for over a third of the UCaaS market. They are followed by 8×8, Cisco (Broadsoft) and Vonage.
The top five vendors have a share of over 60 percent in the global UCaaS market. Smaller vendors with particularly high growth rates include Alianza, Fuze and LogMeIn.
UCaaS subscriber numbers are now approaching the eight million mark having double since late 2015, with the market split between retail and wholesale business models.
RingCentral and 8×8 are the leading providers on the larger retail side.
Mitel and Cisco/Broadsoft lead in wholesale.
“With UCaaS penetration of the PBX market still running at under 10 percent, there remains a long runway for substantial UCaaS growth over the coming years. We expect to see mid-to-large enterprises increasingly driving subscriber numbers,” Jeremy Duke, Synergy Research Group’s founder and Chief Analyst, said.