Unified Communication Market Overview:
The Global Unified Communication Market was valued at $ 32,879 million in 2016, and is projected to reach at $ 74,244 million by 2023, growing at a CAGR of 12.60% from 2017 to 2023.
Unified communications provide various benefits to enterprises operating in varied industry verticals by providing real-time unified access to interaction through integration of multiple communication platforms. Unified communication service providers have introduced innovative products and solutions to enable ease of access and high level of interoperability to achieve high productivity and informed decision making through collective efforts. Moreover, there are various forms in which unified communications are available, these include video, telephony, conferencing, mobility, unified messaging, IM and presence, and contact center. The mobility segment is anticipated to witness the highest growth rate during the forecast period.
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The increase in need for mobility, need to reduce cost of administrative processes, and the increased market for cloud solutions supplements the unified communications market growth across various industry domains. Unified communications facilitate businesses with real-time communication, interoperability, and easier access to required information. It provides unified interface to integrate multiple devices, which enables seamless interaction for informed decision making. The increased market for cloud-enabled solutions is expected to drive the unified communications market growth.
Segment Overview
The global unified communication market is segmented based on application, industry vertical, and geography. Applications covered in the study include video, telephony, conferencing, mobility, unified messaging, IM and presence, and contact center. Varied industry verticals covered in the report are energy and utilities, IT and telecom, retail, healthcare, manufacturing, BFSI, public sector, aerospace and defense, and others. Based on region, the market is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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Key Market Segmentation
Top Impacting Factors
The global unified communication market is influenced by several factors that include rise in need for improved communication solutions, increased application areas, increase in market for cloud solutions and proliferation of smart devices, growth associated with end-use industries, demand from developing economies, and others. All these factors collectively provide opportunities for unified communication market growth.
Top Impacting Factors
Proliferation of Smart Phones and BYOD Trend
The growth in sales of mobile phones has increased the adoption of unified communication among end users. According to “Ericsson Mobility Report” published in 2015, the number of smartphone users is expected to reach 6.1 billion by 2020. In addition, 90% of the population is supposed to have access to high-speed internet and 80% of the new smartphone users are expected to be from Asia-Pacific and LAMEA. Further, another analysis from Cisco states that India is expected to have around 650 million smartphones by 2019. Moreover, increased adoption for bring your own device (BYOD) among enterprise from all industry verticals is expected to drive the demand for unified communication during the forecast period.
Increased Market for Cloud Based Solutions
Rise in adoption of cloud-based technology along with usage of social media platforms drives the growth of the market. At present, cloud technology is adopted widely amongst all the businesses, which provide enterprise affordable communication solutions. Cloud computing allows the model to function from anywhere and anytime. In addition, the implementation of cloud enables organizations to combine supplementary infrastructure technologies such as software-defined perimeters to create robust and highly secure platforms. Hence, the rise in the adoption of the cloud-based solutions drives the growth of the unified communication market.
Impact of Developing Economies
Increase in demand for advanced solutions and technological advancements collaboration market due to the presence of untapped demands and surge in need for better integration of communication platforms in the countries such as China, Japan, and Australia provide enormous opportunities for the market growth.
Key Benefits for Stakeholders
- The report provides an overview of the trends, structure, drivers, challenges, and opportunities in the global unified communication market.
- Porter’s Five Forces analysis highlights the potential of buyers & suppliers, and provides insights on the competitive structure of the market to determine the investment pockets.
- Current and future trends adopted by key market players are highlighted to determine overall competitiveness.
- The quantitative analysis of the market from 2016 to 2023 is provided to elaborate the market potential.
Unified Communication Market Key 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
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Arica
Key Players Profiled in the Report
- Aastra
- Alcatel-Lucent
- At&T
- Cisco
- Connect solutions
- Hewlett-Packard
- IBM
- Microsoft
- Siemens Enterprise Communications
- Verizon Communications
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