UCC Market to cross US$57bn by 2024, Top Venders: IBM, Microsoft, NEC Corporation, Orange, Verizon, Unify, Vonage, RingCentral, Mitel, Avaya, ALE, 8x8, Genesys, Interactive Intelligence, BT, Cisco, Genesys, Huawei Technologies

The growing popularity of UCC market can further be attributed to the fact that as the prominent and emerging enterprises are aiming to expand their foothold in diverse geographical markets, the efficiency and effectiveness of streamlined communication functions would play a crucial role in ensuring beneficial output of business procedures. Therefore, it goes without saying that the leading unified communications & collaboration market players have a vital responsibility to deploy their expertise in assisting a variety of enterprises to make their presence felt in a rapidly transforming global business outlook. In terms of global commercialization potential, Global Market Insights, Inc. forecasts the unified communications and collaboration industry share to surpass a valuation of USD 57 billion by 2024.

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UCC Market in IT & telecom 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.

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

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

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.

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:

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Cloud-based UCC 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.

Telephony is expected to hold a significant share of the UCC market by 2024 owing to the extensive usage of telephony applications for facilitating real-time enterprise communication with internal as well as external stakeholders across the enterprises. Within the telephony market, IP phones will secure a significant share over the timeline as they serve as multimedia endpoints to bring capabilities such as voice into data and video applications.

The recent trend of the increasing alliances between leading UCC market players and some of the world’s renowned IT behemoths has vividly underlined the strategic and competitive landscape of this business space. To cite an instance, the US-based UCC monitoring and analytics provider, Vyopta Incorporated has recently joined forces with Cisco Systems, Inc. to upgrade its SolutionsPlus Programs’ UCC user experience by providing custom alerts, improved device availability, comprehensive analytics, live call monitoring, failure insights, and multi-vendor collaboration ecosystems. In addition to this, Vyopta would offer refined UC asset management, custom business reporting, and enhanced utilization metrics which would improve Cisco’s overall ROI. Needless to mention, such remarkable partnerships are set to vigorously impel the global unified communications & collaboration (UCC) industry space over the estimated time frame.

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The exponential growth trajectory being demonstrated by UCC market has been a subject of intense debate for since a while now, given the rising popularity of BOYD trend and the immense need to streamline the existing communications infrastructure across enterprises on a global scale. The rapid maturation of unified communications & collaboration (UCC) industry can also be accredited to the increased utilization of ever-evolving cloud computing technology and the swift emergence of mobile devices that have evolved from just a medium for voice conversation to smartphones with sophisticated multi-function capacities, all within a decade.

North America will dominate the UCC 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 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 Asia Pacific UCC market is projected to exhibit the fastest CAGR during the timeline as there is an increasing emphasis on simplification and lowering the cost of communication infrastructure in the region. As end users are demanding an enhanced meeting experience, innovation of video collaboration solutions will also play an important role in the market growth.

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.

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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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