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COVID-19 Softens Growth Rates, Creates New Use Cases
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This study provides an in-depth analysis of the European hosted IP telephony and UCaaS market, including a forecast of installed users, average prices and provider revenue until 2026. The study discusses the impact of the COVID-19 epidemic and the resulting economic hardship on services adoption and provider growth strategies. Furthermore, this study provides market share and competitor analyses, as well as highlights important regional and country trends. Finally, the study identifies key growth opportunities for providers delivering hosted IP telephony, UCaaS and other cloud services in European markets. UCaaS user and revenue growth will be slower than originally projected in 2020 and 2021 due to the economic downturn caused by the COVID-19 pandemic and the ensuing workforce reduction and business closures. Market growth will remain strong throughout the rest of the forecast period driven by ISDN services decommissioning, growing awareness of cloud services benefits, expanding variety of service offerings tailored for different types of customers, and the need for business agility in an increasingly global economy and accelerating pace of change in all aspects of life due to rapid technology development.There exist considerable growth opportunities for service providers operating in the European markets. Hosted IP telephony and UCaaS providers can enhance their existing solutions with new features and capabilities, launch new offerings, expand into new customer segments or new geographic markets, develop more creative service bundles or integrate their communications and collaboration solutions with third-party software and services to address new and unique use cases. However, economic recession, workforce reduction and an overall tough economic climate due to the COVID-19 epidemic and the related social measures will cause churn in the installed base and a delay in new projects. Furthermore, businesses with heightened security and compliance requirements or complex customization and integration needs will continue to choose premises-based solutions as they offer superior performance on these criteria. In the near term, traction by country and sub-region will be determined by the degree to which each country has been impacted by the COVID-19 epidemic. All European markets will continue to grow in terms of both installed users and revenue; however, net new adds in 2020 and 2021 will be fewer than those in 2019 despite earlier projections for consistent new user growth throughout the forecast period. This study provides technology developers, service providers, resellers and other market participants with important information to navigate the tough economic climate in the short term and identify key growth opportunities in the long term.Author: Elka Popova
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