Unified Communications & Collaboration Market Trends Analysis By Key Players: BT, Cisco, Genesys, Huawei Technologies, IBM, Microsoft, NEC Corporation, Orange, Verizon, Unify, Vonage, RingCentral, Mitel, Avaya, ALE, 8x8, Genesys | Interactive Intelligence

Unified Communications & Collaboration Market in IT & telecom sector is expected to garner a major share of the overall market by 2024 due to high adoption and immense applications of the technology for process flows in the industry. Effective team collaboration and robust network availability are some of the key requirements of the enterprises operating in this sector. Hence, UCC technology is witnessing high acceptance from such enterprises that operate on an extensive global scale. With rising proliferation start-ups in the IT sector, the demand for cost effective UC capabilities will increase over the forecast period to reduce expenditure on IT infrastructure procurement, maintenance and upgradation.

Unified Communications & Collaboration (UCC) Market size was estimated at over USD 27 billion in 2016, and to exceed USD 57 billion by 2024. The unified communications and collaboration market growth is attributed to the growing penetration of mobile devices and increasing adoption of BYOD trend across enterprises on a global scale. Over the last 10 years, mobile devices have evolved from just a means for voice communication to a smart device with sophisticated multi-function capabilities.

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Cloud-based unified communications & collaboration market will witness favorable growth between 2017 and 2024 owing to growing popularity and adoption of cloud computing technology across businesses in varied sectors ranging from IT & telecom, BFSI, healthcare and public services. Hybrid model will experience accelerated growth during the timeline. As the framework gives cloud capabilities along with secure on-site storage of critical data, the model is witnessing rapid adoption by enterprises wanting to implement unified communications and collaboration systems.

Increase in consumption of mobile internet is expected to further assist the unified communications & collaboration market growth during the timeline. Allowing employees to bring their own devices to the workplace helps companies cut hardware and service costs considerably. Enterprises are increasingly accepting BYOD to enhance employee productivity. UCC technology leverages this BYOD eco-system to enable efficient communication with mobile resources. As upgrading traditional communications network and infrastructure becomes highly challenging in a rapidly evolving business environment, enterprises are becoming more inclined towards cloud and hybrid UC solutions to scale and manage communication resources. An expanding global cloud eco-system is also expected to boost the market growth over the timeline.

Telephony platforms are expected to hold a significant market share of over 25% by 2024 owing to large scale deployment of telephony applications across enterprises in various sectors as a primary communication medium to enable real-time business communication. IP phones segment will secure a larger share of the telephony market over the forecast period as they have numerous benefits over analog phones and cost much less than traditional telephone services. Collaboration market will witness fastest growth over the timeline owing to the advent of highly sophisticated collaboration systems which facilitate meetings involving members from business units located at diverse geographic locations.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BT
2. Cisco
3. Genesys
4. Huawei Technologies
5. IBM
6. Microsoft
7. NEC Corporation
8. Orange
9. Verizon
10. Unify
11. Vonage
12. RingCentral
13. Mitel
14. Avaya
15. ALE
16. 8x8
17. Genesys | Interactive Intelligence

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Unified Communications & Collaboration Market, By Platform

o Telephony
o IP phones
o IP PBX
o Collaboration
o Mobile
o Social network
o Video platform
o Unified messaging
o Voicemail
o Email
o Fax
o Conferencing
o Audio
o Video
o Web
o Services and tools

Unified Communications & Collaboration Market, By Deployment Model

o On-premise
o Cloud
o Hybrid

North America will dominate the unified communications & collaboration market by 2024 primarily due to the availability of a robust telecom and cloud infrastructure in the region. Also, extensive support for BYOD and readiness to adopt the trend by U.S. enterprises is also positively contributing to the market growth.

Asia Pacific unified communications and collaboration market on the other hand, is expected to grow with the highest CAGR of over 13% between 2017 and 2024 due to increasing demand for better business communication infrastructure by organizations operating in emerging economies such as Japan and China. With consistent economic development, the enterprises in these countries are growing in both scale and geographical reach leading to the need for stronger internal and external collaboration functions.

The players operating in the unified communications & collaboration market include pure providers such as 8x8, ALE, Avaya, BT, Cisco, Genesys, Huawei Technologies, IBM, Genesys | Interactive Intelligence, Microsoft, Mitel, NEC Corporation, Nextiva, Orange, RingCentral, Star2Star Communications, Verizon, Vonage, and Unify.

Browse key industry insights spread across 350 pages with 1006 market data tables & 13 figures & charts from the report, “Unified Communications & Collaboration (UCC) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/unified-communications-market-report

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