Worldwide UCaaS revenues grew by 30 percent in the third quarter of 2020, Synergy Research Group said.
RingCentral, Mitel and 8×8 together account for half of all UCaaS revenues.
The rapid growth of Microsoft and the emergence of Zoom have helped to propel recent market growth in UCaaS business.
Microsoft market share in UCaaS business has increased by almost five percentage points in the last three quarters.
Zoom has grabbed 2 percent of the UCaaS market. The enterprise segment is growing more rapidly than the mid-market and small business segments. Zoom has gained 10 percent share in enterprise market in Q3 2020.
Total UCaaS subscriber numbers are now approaching 14 million and have doubled since early 2018. The US accounts for over three quarters of all UCaaS subscribers. Market development is in the early days in most other countries.
RingCentral is the clear UCaaS market leader being more than twice the size of its nearest competitor, thanks to its strength across multiple service segments and customer groups.
RingCentral is the leader with small businesses and the mid-market and is also the joint leader with enterprise customers, alongside Fuze.