Unified Communication and Collaboration (UCC) Market Revenue to Cross USD 60 Bn by 2026, Growing at Over 8%: Global Market Insights, Inc.

SELBYVILLE, Del., Jan. 30, 2020 /PRNewswire/ -- According to the latest report "UCC Market by Platform (Telephony [IP Phones, IP PBX], Collaboration [Mobile, Social Network, Video Platform], Unified Messaging [Voicemail, Email, Fax], Conferencing [Audio, Video, Web], Services & Tools), Deployment Model (On-premise, Cloud, Hybrid), Application (IT & Telecom, BFSI, Public Sector, Retail, Healthcare, Education), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of unified communication and collaboration (UCC) will cross $60 billion by 2026.

The unified communication and collaboration market growth is attributed to steadily growing uptake of UCC systems by enterprises for enhanced business connectivity and reliable communications. In scenarios, where users cannot efficiently use complex communication systems or when customers are unable to reach traveling account executives, UCC systems can play an important role in facilitating such business communications efficiently.

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The conferencing segment in the UCC market will witness a growth rate of over 10% CAGR from 2020 to 2026 as multi-user connectivity becomes increasingly important for making quick business decisions and increasing operational efficiency by real-time information sharing. Conferencing solutions provide a connection, where multiple employees can communicate on the same call. The purpose of call conferencing can be successfully implemented by audio, video or web conferencing, depending on the requirements & convenience of users participating in it. UCC service providers leverage conferencing technologies to ease communication among businesses with customers and personnel, which are either free of cost or on a subscription basis to access services.

The hybrid deployment model is set to witness over 15% CAGR in the UCC market till 2026 due to combined features of scalability and enhanced data control. Hybrid UCC solutions integrate the benefits of both cloud and on-premise cloud to enable secure & scalable communications infrastructure and provide on-demand access to manage workloads for enterprises. The hybrid model is increasingly becoming popular due to its workload mobility capabilities along with network optimization and easy capacity expansion. Hybrid UCC solutions are being extensively used in mobile & web development, providing robust disaster recovery services.

The BFSI segment is anticipated to register a CAGR of over 10% over the forecast period due to the increasing proliferation of unified communications in the banking sector to improve customer experience. It is estimated that about 34% of customers continue to visit banks while approximately 36% of customers use smartphones to perform transactions. The remaining users comprise unengaged customers, who are dissatisfied with bank services. BFSI enterprises are rapidly up taking UCC systems to create new avenues for targeting unengaged customers, offering them personalized facilities.

The Europe unified communication & collaboration (UCC) market is set to witness approx. 10% CAGR during the forecast period due to the extensive adoption of BYOD technologies by European business corporations. The integration of personal BYOD devices with unified communication solutions has added to the benefits of the market. This has improved the productivity of employees by enabling efficient communication over organizational wireless networks or cellular networks. It is estimated that nearly 40% of the mid-sized firms in Europe have deployed unified communications. This has resulted in improved project management, better team collaboration, faster problem solving, and improved customer experience.

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Some major findings of the unified communication & collaboration (UCC) market report include:

-  The increasing adoption of mobile devices and web-based communication solutions in enterprise environments has created a positive outlook for the UCC market.

-  Cloud-based UCC solutions offer excellent flexibility to users to pay only for the resources used by them. This significantly reduces the capital investment for communication infrastructure.

-  The IP phones segment will secure a larger share of the telephony market over the forecast period as it has numerous benefits over analog phones and costs much less than traditional telephone services.

-  Due to the rising trend of outsourcing certain business processes in the IT industry, the need for effective communication and collaboration solutions is likely to increase consistently over the forecast timeline.

-  Some of the key players operating in the UCC industry include 8x8 Inc, Alcatel Lucent Enterprise (Nokia Networks), Avaya Inc. (Avaya Holdings Corporation), BT Group, Cisco Systems Inc., Genesys (Permira), Huawei Technologies Co., Ltd., IBM Corporation, Microsoft Corporation, Mitel Networks Corporation, NEC Corporation, Nextiva (UnitedWeb), Orange Business Services (Orange), RingCentral Inc., Star2Star Communications, Verizon Communications, Vonage (Vonage Holdings Corp.), Unify (Atos SE), and West Corporation.

Table of Contents (ToC) of the report:

Chapter 3.  UCC Market Insights

3.1.  Introduction

3.2.  Benefits of UCC

3.2.1. Single, flexible infrastructure

3.2.2. Reduced costs

3.2.3. Increased business productivity

3.2.4. Enhanced customer satisfaction

3.2.5. Improved mobility

3.3.  Industry segmentation

3.4.  Industry landscape, 2015 - 2026

3.5.  Evolution of UCC technology

3.6.   Industry ecosystem analysis

3.7.  UCC architecture analysis

3.8.  Technology & innovation landscape

3.8.1. Mobile-first models for UCC

3.8.2. AI, AR, and IoT

3.8.3. WebRTC

3.8.4. Application and workflow integration

3.9.  Regulatory landscape

3.9.1. Markets in Financial Instruments Directive (MiFID)

3.9.2. The Privacy and Electronic Communications (EC Directive) Regulations 2003

3.9.3. The Dodd-Frank Act

3.9.4. Health Insurance Portability and Accountability Act (HIPAA)

3.9.5. The Protection of Personal Information Act (2013)

3.9.6. Electronic Communications and Transactions Act 25 of 2002

3.9.7. Nigeria Communications Act (2003)

3.10.  Industry impact forces

3.10.1.  Growth drivers

3.10.2.  Industry pitfalls & challenges

3.11.   Industry news

3.12.  Porter's analysis

3.13.  PESTEL analysis

3.14.  Growth potential analysis

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global UCC Market growth predicted at 8% till 2026: GMI
The hybrid deployment model is set to witness over 15% CAGR in the UCC market till 2026 due to combined features of scalability and enhanced data control.

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SOURCE Global Market Insights, Inc.

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