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Unified Communications & Collaboration Market Regional Trend & Growth Projections By 2020-2026 | Avaya, Mitel, Microsoft, Cisco, NEC, Huawei, Unify, RingCentral, BT, 8x8, Orange, Verizon, Google, Nextiva, Genesys, Star2Star, and Vonage

03-18-2020 02:39 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Unified Communications & Collaboration (UCC) Market

Unified Communications & Collaboration (UCC) Market

The recent trend of the increasing alliances between leading unified communications & collaboration 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 U.S.-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 market space over the estimated time frame.

Elaborating further, it is rather imperative to take note of the fact that UCC technology has brought about a paradigm shift in the way large enterprises communicate by streamlining diverse communication modes including video, voice, email, and instant messaging and enhance consumer satisfaction by improving business productivity. Moreover, the aforementioned factors have caused drastic reduction of infrastructure expenses by integrating telecommunication services and IT network into a single consolidated framework, something which has carved out a comprehensive roadmap for the unified communications & collaboration market to reap lucrative gains in the ensuing years.

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Owing to the wide scale deployment of telephony applications across a host of business verticals to enable real-time communication with internal and external stakeholders, telephony platform is estimated to command a significant share of over 29 percent of the overall unified communications & collaboration market by 2025. To highlight the rising influence of telephony platform in this swiftly evolving business space, a noteworthy instance can be cited. One of the foremost unified communications & collaboration (UCC) industry participant MegaPath, for instance, had been awarded with 2017 Internet Excellence Award for its MegaPath One (TM), a unified communications platform which has been delivering commendable IP communications solutions to a range of small and large business enterprises. Furthermore, it would be prudent to mention that owing to numerous advantages over analog phones, IP phones segment of telephony platform is set to contribute immensely to the overall unified communications & collaboration market share.

The robust evolution and subsequent progression of Bring Your Own Devices (BYOD) has been identified as the most favorable trend supporting the growth of unified communications and collaboration market. The fact that BYOD aids in minimizing the overall operating & capital expenditure of a company by considerably reducing the cost incurred in purchasing systems, has triggered several organizations to implement BYOD models for their enterprise. Besides cost optimization, BYOD has also documented promising outcomes with regards to value enhancement, increased employee productivity, streamlining of programs, and seamless connectivity. In fact, industry projections claim that 50% of companies had required employees to bring their own devices for work by 2017. Needless to say, this trend will enable several enterprises to adopt UCC solutions to streamline the communication infrastructure under a unified network, in turn providing a major boost to unified communications & collaboration market share.

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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 unified communications & collaboration 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.

Delving deeper into the current state-of-affairs of unified communications and collaboration market, analysts anticipate the digital revolution, wireless technologies, and device evolution to be the defining forces characterizing unified communications & collaboration market landscape in future. With massive technology advancements looming in this business sphere, analysts deem the worldwide UCC industry to remain a profitable investment avenue for prominent companies.

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