News : RingCentral Breaks Away From The Competition As UCaaS Market Leader
Belmont, CA, USA, Oct, 2017 -- RingCentral, Inc. (NYSE:RNG), a provider of global enterprise cloud communications and collaboration solutions, announced that according to Synergy Research Group, an independent market research firm, the company has extended its market share lead in UCaaS. On October 16, 2017, Synergy announced details of its Q2 2017 Synergy UCaaS Market Share report and also announced that RingCentral was once again recognized as the #1 worldwide market share leader in both revenue and subscriber seats for unified communications as a service (UCaaS).
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"The UCaaS market is accelerating at an annualized rate of 29% due to the continued erosion of on-premises PBX systems, which declined -11%, and the rapid pace of adoption among enterprises that are migrating to the cloud looking for richer and more cost-effective collaborative communication solutions," said Jeremy Duke, Synergy Research Group’s founder and chief analyst. "We are also seeing an up-market acceleration of UCaaS adoption, moving from serving smaller sized organizations to gaining traction in businesses of over 100 seats and over 1,000 seats. RingCentral is capitalizing on these trends and continues to execute well, which is reflected in its continued strong growth."
"We’re honored to be recognized as the largest and fastest-growing UCaaS provider by leading market research firm, Synergy Research Group," said David Sipes, chief operating officer of RingCentral. "The cloud is winning and RingCentral is winning in the cloud. The reason cloud is winning is due to the rapid pace of innovation it is delivering to customers, which can’t be matched by legacy on-premises and hosted solutions. We continue to relentlessly focus on innovation while delivering a best-in-class experience for our customers."
Posted by Veronica Silva Cusi, news correspondent
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About RingCentral, Inc.:
RingCentral is a publicly traded provider of cloud-based phone systems for businesses. It is headquartered in Belmont, California and has offices in Denver, Colorado; Manila, Philippines; Xiamen, China; St. Petersburg, Russia and Odessa Ukraine.
Synergy Research Group is a strategic partner of TeleGeography, providing market intelligence, analytics and strategic consulting services to the networking and telecom industries.
Published: Tuesday, October 24, 2017
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