Several Voxbone customers were featured in a report from independent market research firm Synergy, which identified the major players within the ever-growing UCaaS market. The results (in particular those surrounding the leading provider) are the focus of a recent press release issued by RingCentral. With steady growth in the past couple of years, RingCentral is seen pulling away from the pack and showing dominance both in terms of revenue and subscriber numbers.
Synergy reports RingCentral as shooting up to a 19% market share, indicating that the unified communications company is growing at twice the rate of the overall market. Meanwhile, the year-over-year revenue growth within the UCaaS market as a whole grew by 22% at the start of 2017. Compared with a 9% decline in the on-premise voice market during the same period, it looks like the cloud is a growing favorite when it comes to enterprise communications.
Ringing in a new era
A Voxbone customer for more than a decade, RingCentral’s success highlights a shift in the way businesses are approaching communications. In RingCentral’s press release, Vlad Shmunis, the company’s CEO and founder said, “We’re honored to be recognized as the largest and fastest growing UCaaS provider. Our success stems from our relentless focus on innovation and our differentiated mobile-first, global, open platform collaborative communications solutions.”
The UCaaS market is getting bigger by the day, folks. With lowered costs, increased flexibility and a growing trend for businesses to cut the cord, now is a great time to make a move to the cloud.