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Unified Communications & Collaboration Market in Telephony platforms will expand with a significant CAGR of 29% by 2025 | Top Key Players are BT, Cisco, Genesys, Huawei Technologies, IBM, Microsoft, NEC Corporation, Orange, Verizon
Unified Communications & Collaboration Market
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Given the rapid adoption of this advanced technology, reliable reports anticipate the IT & telecom sector to account for a considerably high proportion of the overall Unified communications & collaboration market share by 2025. Fueled by the robust adoption of telephony, conferencing, collaborations, and unified messaging platforms, the IT & telecom sector has been forecast to emerge as one of the most profitable growth grounds for UCC market over 2019-2025. In this regard, it is also imperative to mention that telephony, the UCC technology platform associated with the transmission of voice, fax, video, and other information, is anticipated to hold a major chunk of UCC market share, on account of its ability to provide seamless & real-time business communication.
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
Growth Drivers:
• Rapid adoption of mobile devices
• Growing popularity of the BYOD trend
• Growing need for streamlining business communication process flows
• Growing popularity of Unified Communications as a Service (UCaaS)
• Reduction in administration and maintenance cost
• Growing enterprise social media uptake
Unified communications & collaboration market in Conferencing platforms are expected to witness the highest growth of over 12% during the forecast period. The platforms, such as audio and video conferencing, ease communication process among businesses and provide various benefits such as improved competitive advantage, improved productivity & employee satisfaction, and improving the demand for these platforms over the forecast period.
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The on-premise deployment model held a dominant unified communications & collaboration market share of over 55% in 2018 and is expected to maintain its dominant share by 2025. As the on-premise model offers enterprises with the complete software and hardware service control, enterprises are widely using this model to have accessibility to equipment anytime for troubleshooting while managing disaster recovery.
The BFSI market is expected to register the fastest growth rate from 2019 to 2025 with a CAGR of over 11% due to the rapid adoption of UCC solutions to improve their profitability and way of conducting business. The financial institutions are using tools, such as mobile messaging and video conferencing, to personalize their relationships with customers to improve customer satisfaction. The growing use of such tools to facilitate seamless communication process and benefit from multichannel communications internally & externally will foster the unified communications & collaboration market growth in the BFSI sector.
The growing popularity of unified communications & collaboration 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 (UCC) 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 60 billion by 2025.
Browse key industry insights spread across 300 pages with 416 market data tables & 28 figures & charts from the report, “Unified Communications & Collaboration Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/unified-communications-market-report
North America has been projected to be a pivotal source of a major percentage of the global IT industry revenue, which is well over USD 3.5 trillion worldwide. Undeniably, the region would be the most potential growth avenue for the expansion of UCC market, given the escalating adoption of mobile devices & BYOD models in the regional corporate sector. In addition, the fact that the U.S. is currently the leader in cloud computing market and hosts some of the largest companies in the sector, further provides testimony to the robust demand for UCC technology in the region.
The Asia Pacific unified communications & collaboration market is expected to grow at a CAGR of over 12% during the forecast timeline. The market growth is driven by the adoption of cloud-based UCC solutions and various government initiatives for modernizing ICT infrastructure. For instance, the South Korea Ministry of Science and ICT along with the major carriers in the country have drafted a plan to set up a nation-wide infrastructure by 2020. The huge penetration of low-cost smartphones in countries including China and Japan will also contribute toward market growth.
The key players operating in the unified communications & collaboration market are focusing on various business growth strategies such as new product developments and partnerships. This enables them to expand their existing portfolio and help them to increase their geographical reach to offer solutions to the uncaptured market segments. For instance, in July 2016, Arkadin Singapore, an NTT Communications company, launched Arkadin Total Connect, a Microsoft Skype for Business hosted service. The UCC portfolio for an all-in-one cloud solution offers an integrated UCC ecosystem equipped with web/audio/video conferencing, Office 365, and contact center.
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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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org
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