RingCentral, Inc. (NYSE:RNG) has been recognized by Synergy Research Group, an independent market research firm, as the #1 worldwide market share leader in both revenue and subscriber seats for Unified Communications as a Service (UCaaS), based on a report published on June 14, 2017, the company said.
With a 19% market share by revenue, RingCentral is growing twice as fast as the overall UCaaS market, according to Synergy Research.
Also, Synergy Research reports that RingCentral´s flagship product, RingCentral Office, is ranked the highest by subscriber seats among all UCaaS vendors, growing at 53% year-over-year, which is 137% faster than its nearest competitor.
In addition, the report highlights that cloud is winning over on-premises for business communications. Synergy Research points out that revenue for the UCaaS market grew by 22% year-over-year in Q1 2017, while the on-premises enterprise voice market declined by 9% during the same period.
RingCentral is a provider of cloud-based global collaborative communications solutions. More flexible and cost-effective than legacy on-premises systems, RingCentral empowers today´s mobile and distributed workforce to communicate, collaborate, and connect from anywhere, on any device.