Unified Communications (UC) Market Size is Projected to Reach USD 74,244 Million by 2023 - Valuates Reports
BANGALORE, India, July 6, 2020 /PRNewswire/ -- The global unified communications market size was valued at USD 32,879 Million in 2016 and is projected to reach US 74,244 Million by 2023, growing at a CAGR of 12.60% from 2017 to 2023.
Unified communications enable real-time contact, interoperability, and faster access to the information needed. It offers a single framework for the integration of multiple devices, allowing smooth connectivity for informed decision-making.
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TRENDS INFLUENCING THE UNIFIED COMMUNICATION MARKET SIZE:
- The increase in the demand for business efficiency and productivity, the need to minimize operating costs, and need for increased availability of teams in organisations are expected to increase the unified communication market size during the forecast period.
- The growing demand for cloud-enabled applications further expected to increase the unified communication market size.
- The growth in sales of mobile phones has increased the adoption of unified communication among end-users. Furthermore, Increased adoption of bringing your own device (BYOD) in companies from all industry verticals is expected to drive the demand for unified communication during the forecast period.
- The convergence of Artificial Intelligence (AI) with UC technologies has significantly enabled organizations to achieve their target of digital transformation. This rising implementation of AI and Machine Learning (ML) in the communications field has created team collaboration opportunities, enabling machine-to - human interaction. This collaboration between AI and UC technologies is expected to increase the unified communication market size.
- An increase in demand for innovative technologies and technical developments in the collaboration sector due to untapped demands and an increase in the need for better integration of communication networks in countries such as China, Japan, and Australia provide tremendous opportunities for the growth of the unified communication market size.
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UNIFIED COMMUNICATION MARKET SHARE ANALYSIS
The IT and telecommunications segment dominated the overall unified communications market in 2016 and is expected to continue this trend during the forecast period. This dominance can be attributed to the rise in cloud applications, growth in the outsourced services sector, and an increase in the number of connected devices.
Based on region, the North American region dominated the overall unified market share of communications in 2017 due to increased demand for connected interfaces, growth in cloud technology, and penetration of your own devices (BYOD) in the U.S.
However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Covid 19 will positively affect the unified communications market.
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Key Market Segments
By Application
- Video
- Telephony
- Conferencing
- Mobility
- Unified Messaging
- IM and Presence
- Contact Centre.
By Industry Vertical
- Energy and Utilities
- IT and Telecom
- Retail
- Healthcare
- Manufacturing
- BFSI
- Public Sector
- Aerospace and Defense
- Others.
By Region
- North America
- Europe
- Asia Pacific
- LAMEA.
Key Companies
- Aastra
- Alcatel-Lucent
- At&T
- Cisco
- Connect solutions
- Hewlett-Packard
- IBM
- Microsoft
- Siemens Enterprise Communications
- Verizon Communications
- Others.
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SIMILAR REPORTS:
- Unified Communication as a Service (UCaaS) Market Report
The key factors driving the UCaaS market's growth include the increasing demand for UCaaS from both large enterprises and SMEs and growing trends toward mobility and Bring Your Device (BYOD). Furthermore, factors such as advancements in artificial intelligence, machine learning, and other emerging technologies, are expected to create ample opportunities for UCaaS vendors.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-16S2299/global-unified-communications-as-a-service-ucaas
- Mobile Unified Communication and Collaboration Market Report
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-27G2136/global-mobile-unified-communication-and-collaboration-uc-c
- Unified Communication (UC) and Business Headsets Market Report
Increasing demand for unified communication-enabled headsets in call centers and IT companies, ongoing technological advancements in products, and increasing adoption of digital technologies in the business sector are among some factors driving the growth of the unified global communication and business headsets market.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1A315/unified-communication-and-business-headsets
- UCP (Unified Communication Platform) Market Report
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2Z304/unified-communication-platform
- Enterprise Unified Communication & Collaboration Market Report
This report studies the Enterprise Unified Communication & Collaboration market size by players, regions, product types and end industries, history data 2014-2018, and forecast data 2019-2025.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-1N2579/global-enterprise-unified-communication-collaboration
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