Unified Communications and Collaboration Market to depict heavy gains via BFSI sector | Major Vendors are BT, Cisco, Genesys, Huawei Technologies, IBM, Microsoft, NEC Corporation, Orange, Verizon

Unified Communications and Collaboration Market in BFSI sector is expected to exhibit a lucrative growth over the forecast period 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 UCC market growth in the BFSI sector.

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The exponential growth trajectory being demonstrated by unified communications and collaboration 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.

Unified communications and collaboration market inConferencing 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.

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

UCC 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

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Unified communications and collaboration market in the telephony market, the IP PBX market is projected to witness the fastest growth rate with a CAGR of over 8% from 2019 to 2025. The major factor driving the market is its easy support and reduced network latency. The majority of the hosted IP PBX providers have already started offering customized services, allowing users to connect to other servers without getting disconnected.

Unified Communications and Collaboration Market growth in Unified messaging platforms can be attributed to the ability of the solutions to unify different messaging channels, such as email, fax, instant messages, and voicemails, into a single framework making the task of managing all such messages less tedious and time-consuming. 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.

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 will dominate the unified communications and collaboration market by 2025 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 the U.S. enterprises will positively contribute to the market growth. The Asia Pacific market is expected to grow with the highest CAGR of over 12% between 2019 and 2025 due to increasing demand for better business communication infrastructure by organizations operating in emerging economies in the region.

Also, large-scale digitalization initiatives undertaken by government agencies in China and India are expected to contribute to the rising uptake of UCC solutions in the region. As technology outsourcing has been a traditionally major trend in these countries, establishing efficient enterprise communication infrastructure is one of the key priorities of the companies offering outsourcing services to the European and North American enterprises.

The Asia Pacific unified communications and 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 and 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 and 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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