How much is the Unified Communications & Collaboration market worth?
According to the report, global demand for unified communications & collaboration market was valued at approximately USD 28.9 Billion in 2019 and is expected to generate revenue of around USD 51.6 Billion by end of 2027, growing at a CAGR of around 7.5% between 2020 and 2027.
What is Unified Communications & Collaboration?
Unified communications and collaboration (UCC) is a bunch of various software packages that work on a range of communication technologies including screen networking, real-time video conferencing, electronic mailing, chatting, and many others. UCC solutions function as an instant mode of contact between employees and businesses in different parts of the globe. With the growing proliferation of smart phones and the rapid introduction of 5G cellular data networks in various regions, connectivity approaches have transformed and thus driving the global unified communications and collaboration (UCC) market.
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What are Unified Communications & Collaboration market’s key drivers?
- Growing Popularity of Unified Communications as a Service (UCaaS)
- Growing Need for Streamlining Business Communication Process Flows
- Reduction in Administration and Maintenance Cost
- Rapid Adoption of Mobile Devices
How much market share of Unified Communications & Collaboration was held by platform segment in 2019?
Based on platform, the market is categorized into telephony, unified messaging, conferencing, collaboration, and services and tools. The telephony market is segmented into IP Phones, and IP Private Branch Exchange (PBX). The unified messaging market is further segmented into fax, voicemail, and email. The market for conferencing is segmented into video, audio, and web. The market for collaborations is further segmented into social network, mobile, and video platform. The telephony segment held almost 31% share of the market in 2019. This is due to the widespread use of IP phones to promote real-time communication between enterprises. IP phones serve as digital endpoints for delivering features, such as voice to data and creating stronger customer partnerships, improving competitive advantage, video apps, employee satisfaction, and improved connectivity. Besides, this platform provides easy support and better uptime.
How much market share of Unified Communications & Collaboration was held by application segment in 2019?
Based on the application, the global market for unified communications & collaboration is segmented into BFSI, public sector, healthcare, IT & telecom, retail, and others. The IT & telecom segment accounted for almost 36% share of the market in 2019 due to the rapid adoption of this technology by Chinese IT companies. These organizations leverage UCC resources to connect global business locations seamlessly and enable successful team collaboration.
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Which region is predicted to have the largest share in the Unified Communications & Collaboration market?
By region, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America held almost 42% share of the overall market due to the availability of advanced communications and IT infrastructure in the region, especially in the U.S. Moreover, robust growth in the region’s business mobility along with the growing proliferation of mobile devices is raising market revenue. In terms of BYOD adoption, North American workers are ahead of their global colleagues, which are pushing organizations to incorporate UCC-based collaborative feature systems. Asia Pacific is likely to grow at high CAGR in the forecast period. The growing numbers of Chinese SMEs operating in the IT sector are taking advantage of the technology to save considerable costs for IT infrastructure and maintenance by implementing centralized management frameworks.
Which are the prominent Unified Communications & Collaboration Key Players across the globe?
Major players in unified communications & collaboration market are ALE, Microsoft, BT, Verizon, Huawei, Nextiva, RingCentral, Google, Orange, Cisco, Star2Star, Vonage, 8×8, NEC, Genesys, Unify, Mitel, and Avaya among others.
Table of Contents (TOC)
1. Global Unified Communications & Collaboration Market Introduction
1.1. Definition and Taxonomy
1.2. Research Scope
2. Research Methodology
3. Executive Summary
3.1. Global Market Overview and Key Findings by Major Segments
4. Market Dynamics and Industry Trend Analysis
4.1. Market Dynamics
4.2. SWOT Analysis
4.3. PESTLE Analysis
4.4. Porter’s Five Forces Analysis
4.5. Market Growth Attractiveness Analysis by Key Segments and Region
5. Competitive Landscape and Market Share Analysis by Manufacturers
5.1. Market Competition Scenario
5.2. Manufacturer Market Share
5.3. Manufacturer Intensity Map
5.4. Opportunity Orbits
5.5. Strategic Market Developments
6. Global Unified Communications & Collaboration Market Value (USD Million), Share (%), Comparison by Key Segments
7. Global Unified Communications & Collaboration Market Value (USD Million), Share (%), Comparison by Region
7.1. North America
7.1.1. North America Regional Market Size and Trend Analysis
126.96.36.199. Rest of North America
7.2.1. Europe Regional Market Size and Trend Analysis
188.8.131.52. Rest of Europe
7.3. Asia Pacific
7.3.1. Asia Pacific Regional Market Size and Trend Analysis
184.108.40.206. Southeast Asia
220.127.116.11. Rest of Asia Pacific
7.4. Latin America
7.4.1. Latin America Regional Market Size and Trend Analysis
18.104.22.168. Rest of Latin America
7.5. Middle East and Africa
7.5.1. Middle East and Africa Regional Market Size and Trend Analysis
22.214.171.124. Saudi Arabia
126.96.36.199. South Africa
188.8.131.52. Rest of Middle East and Africa
8. Company Profiles of Key Manufacturers
8.1. Company Basic Information
8.2. Company Overview
8.3. Financial Highlights
8.4. Product Portfolio
8.5. Business Strategy
8.6. Recent Market Developments
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