Unified Communications & Collaboration (UCC) Market worth $100 Bn by 2028, Says GMI

SELBYVILLE, Del., Feb. 1, 2022 /PRNewswire/ -- The unified communications and collaboration (UCC) market is expected to surpass USD 100 billion by 2028, as reported in a research study by Global Market Insights Inc. The growing popularity of BYOD trends is proliferating the industry demand.

The growing adoption of remote working environment is driving the UCC market growth. During the COVID-19 pandemic, large & small enterprises have switched their focus toward remote working environment in order to reduce the infection of virus. So, business organizations have increasingly adopted UCC tools for hosting meetings and conferences. UCC tools enable real-time collaboration, instant messaging, VoIP, video calling, and social networking services. They help the organizations to share information more effectively.

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Conferencing is expected to gain a significant market share during the forecast period. The growth is attributed to the growing need to connect multiple users on a same call-in order to save time and communicate more effectively. Moreover, the advancement in digital technology has brought several advantages to web and video conferencing depending on call requirements. Conference call service providers are developing advanced technologies to facilitate communication among businesses with customers and personnel.

On-premises is projected to grow exponentially due to the growing demand for UCC solution among large enterprises. It offers enterprises with the complete software and hardware service control. The enterprises are completely responsible for the management and usage of products & services provided by the vendor. On-premises USS solutions are generally adopted by large enterprises due their higher cost.

The BFSI application segment is anticipated to witness a market share of over 25% in 2028 due to the increasing need to provide improved customer experiences. It has been observed that customers are gradually adopting digital technology to enjoy the banking facilities anytime, anywhere via mobile phone or online from a PC. This ensures reduced time a customer has to spend in a branch and encourages work mobility.

APAC is projected to grow exponentially in the global unified communication and collaboration (UCC) market through 2028. The growth is attributed to the increasing adoption of cloud-based UCC solutions and favorable government initiatives for modernizing ICT infrastructure in the region. Telco in the region is leveraging its existing infrastructure and technological expertise to move beyond legacy voice and data services to IT services. For instance, in May 2021, 8x8 Inc. launched integrated CCaaS and UCaaS products in China. They are the industry's first cloud phone and customer engagement solutions that provide multinational support in China.

The companies operating in the UCC market are focusing on developing strategic partnership to develop advanced solutions. For instance, in July 2020, Atos partnered with Damovo to accelerate the access of UCC solutions in Northern Europe. The partnership has enabled faster response to the increasing demand for advanced UC solutions across the enterprise sector.

Some major findings of the unified communications and collaboration (UCC) market report include:

• Business enterprises are increasingly adopting UCC solutions in order to boost productivity, enhance customer experiences, and increase employee satisfaction.
• Advancement in technology, such as cloud computing and AI technologies, are anticipated to support the market growth.
• APAC Unified Communication and Collaboration (UCC) market is propelled by the growing demand for streamline business communication process.
• Major players operating in the unified communications and collaboration market are 8x8 Inc., Alcatel Lucent Enterprise (Nokia Network), Avaya Inc, BT Group, Cisco Systems Inc., Huawei Technologies Co. Ltd., IBM Corporation, Microsoft Corporation, Mitel Network Corporation, and NEC Corporation.
• The companies operating in the market are focusing on developing advanced UCC solutions in order to strengthen their product portfolio.

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Partial chapters of report table of contents (TOC):

Chapter 2 Executive Summary

2.1  UCC industry 360º synopsis, 2018 - 2028

2.1.1  Region trends

2.1.2  Platform trends

2.1.3  Deployment model trends

2.1.4  Application trends

Chapter 3 UCC Industry Insights

3.1  Introduction

3.2  Benefits of UCC

3.3  Industry segmentation

3.4  Industry landscape, 2018 - 2028

3.5  Evolution of UCC technology

3.6  Industry ecosystem analysis

3.7  UCC architecture analysis

3.8  Technology & innovation landscape

3.9  Regulatory landscape

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

About Global Market Insights

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SOURCE Global Market Insights Inc.