Press release
Unified communication market size is expected to hit $74,244 million by 2023 | Key Players such as - Aastra, Alcatel-Lucent, At&T, Cisco, Connect solutions, Hewlett-Packard, IBM, Microsoft, Siemens Enterprise Communications, Verizon Communications
Increased application areas, growth associated with IoT, proliferation of smart devices, BYOD trend, cloud-based solutions, and surge in demand for application-specific solutions drive the growth of the unified communication market. In addition, recent innovations and growth in adoption of advanced solutions further fuel the unified communication market growth.
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Increase in technological advancements and surge in adoption of cloud computing technologies are expected to be the foremost factors driving the growth of the market during the forecast period.
Geographically, the report analyzes the global market across North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). North American region contributed to more than one-third share of the total market in 2016 and is expected to remain dominant throughout the forecast period. However, Asia-Pacific would become the fastest growing region, registering a CAGR of 16.10% from 2017 to 2023.
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The market players analyzed in the study include Aastra Technologies Limited, Alcatel-Lucent S.A., AT&T Inc., Cisco, Avaya Inc., Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Siemens Enterprise Communications, and Verizon Communications. Furthermore, the report presents various strategies, such as partnerships, new product launches, mergers & acquisitions and others, which have been adopted by market players to gain a stronghold in the industry.
The report segments the market based on application into video, telephony, conferencing, mobility, unified messaging, IM & presence, and contact center. The telephony segment captured 29% of the market share in 2016 and is expected to maintain its lion's share through 2023. In terms of growth rate, the mobility segment would register the fastest CAGR of 15.30% during the forecast period.
Access full summary at: https://www.alliedmarketresearch.com/unified-communications-market
The industry verticals analyzed in the research include energy & utilities, IT & telecom, retail, healthcare, manufacturing, BFSI, public sector, aerospace & defense, and others. The IT & telecom segment accounted for 21% of the total market share in 2016. However, the energy & utilities segment is anticipated to be lucrative during the forecast period, owing to its fastest CAGR of 15.06%.
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