Press release
Unified Communications and Collaboration Market Outlook 2022- Explains COVID-19 Impact, Share, Future Growth, Size, Dynamic Analysis, Development Suggestions and Forecast to 2029
Unified Communications and Collaboration Market
New study report" Unified Communications and Collaboration Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2029″ has been added to Fortune Business Insights.
Market Overview:
At the beginning of a recently published report on the Unified Communications and Collaboration Market 2022-2029, extensive analysis of the industry has been done with an insightful explanation. The overview has explained the potential of the market and the role of key players that have been portrayed in the information that revealed the applications and manufacturing technology required for the growth of the Unified Communications and Collaboration market.
The global unified communications and collaboration market size are expected to grow from USD 47.26 billion in 2022 and reach USD 113.81 billion by 2029, exhibiting a CAGR of 13.4% during the forecast period. The market size stood at USD 41.83 billion in 2020.
Various segments of the market have been divided into different divisions. They have been depicted maximum share and profit maximization of the market during the forecasting period of 2022 to 2029. This is mentioned in the report too. Depending on the information, it has been recognized with different data and figures offered by the analysis of the overall understanding of the market place and value. Various distinctive features involve the market's knowledge based on the factors like the demographic changes, market dimensions, historical details, and market overviews. The research is also included in the strategic movements that are undertaken by the top-notch markets. Moreover, these key players affect the market growth and the profit rate of the overall market. In this report, the internal dimensions and assessments of the Unified Communications and Collaboration market are revealed. The study of the Unified Communications and Collaboration market's description has been taking place during the 2022 period and the last year of the foreseen period that extends to 2029.
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List of Key Players Covered in the Unified Communications and Collaboration Market Report:
Cisco Systems, Inc.
Microsoft Corporation
Hewlett-Packard
IBM Corporation
Zoom Communications
Siemens Enterprise Communications (Unify)
Verizon Communications
Aastra
Alcatel-Lucent (Nokia)
At&T
Avaya
COVID-19 Impact:
The epidemic has sparked interest in UC&C technologies throughout the world. The increase in demand is largely due to organizations' increased use of remote work, establishing bring your own device policies, and other similar initiatives. During lockdowns, the remote work increased dramatically, providing sufficient opportunities for the prominent companies operating in the unified communications and collaboration (UC&C) market amid the global pandemic. The epidemic prompted a surge in demand for standardized collaboration tools across enterprises and organizations, which aided them in reorganizing their plans through the use of digital technology. As a result, it has expedited the adoption of communication solutions for corporate meetings worldwide, such as team collaboration, team messaging, video conferencing, and other unified communication technology. This hybrid workforce was able to keep connected throughout the epidemic credits to appropriate collaboration technologies.
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Drivers & Restraints:
Increasing Acceptance of Innovative Technologies to Spur Lucrative Opportunities
Growth in IT expenditure across various industries, including healthcare, manufacturing, BFSI, and retail, would open up various market possibilities for industry participants. According to a Gartner survey conducted in 2020, worldwide IT spending hit USD 3.6 trillion in 2020 and is expected to reach USD 3.8 trillion in 2023 due to the rapid adoption of digital platforms and digitalization. The need for communications tools is increasing as technologies like voice over internet protocol (VoIP), real-time web communication (WebRTC), voice over long-term evolution (VoLTE), and others become more widely adopted. The expansion of the market is projected to be aided by the rise in corporate strategies. Cisco System, Inc., for example, formed a collaboration with Quickchannel in April 2021. The partnership was formed to help businesses engage staff and consumers cost-effectively, long-term, and secure manner.
Market Segmentation:
The global market is split into telephone, conferencing, unified messaging (e-mail, voicemail, SMS & fax), and others, depending on the kind (live streaming, contact center). Conferencing is likely to increase at a rapid pace in the future.
The market is classified into small & medium scale and large-scale organizations based on the organization size. Based on industry, the market is classified into BFSI, IT & telecom, healthcare, manufacturing, retail, government, education, and others.
Geographically, the market is classified into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America. They are further categorized into countries.
Regional Insights:
Presence of Prominent Companies to Boost Growth in North America
The market is expected to be dominated by North America. The presence of major businesses such as Microsoft Corporation, IBM Corporation, Siemens Enterprise Communications (Unify), AT&T, Cisco System, Inc., and others has contributed to the expansion. In addition, owing to pandemics, which necessitate unified communications solutions on mobile devices, companies across the area have embraced remote work for their employees. For example, the International Labour Organization (ILO) estimates that about 34% of individuals in the United States will be working remotely by 2020. Several end-user companies in Europe are using enterprise collaborative communications technologies. Due to growing online education, business meetings, and online event markets throughout the pandemic, countries such as Germany, the U.K., France, and Italy have demonstrated a huge demand for unified collaboration solutions. Additionally, a rise in end-user investment helps to promote unified communications and collaboration (UC&C) market share across European countries.
Key Industry Development:
July 2020 - Airtel launched a video conferencing app called BlueJeans in India. The telecom giant Airtel has partnered with US-based Verizon-owned BlueJeans to make its video conferencing app for users in India.
Major Table of Content:
Introduction
Executive Summary
Market Dynamics
Key Insights
Unified Communications and Collaboration Market Analysis, Insights and Forecast, 2022-2029
North America Unified Communications and Collaboration Market Analysis, Insights and Forecast, 2022-2029
Europe Unified Communications and Collaboration Market Analysis, Insights and Forecast, 2022-2029
Asia Pacific Unified Communications and Collaboration Market Analysis, Insights and Forecast, 2022-2029
Middle East and Africa Unified Communications and Collaboration Market Analysis, Insights and Forecast, 2022-2029
Latin America Unified Communications and Collaboration Market Analysis, Insights and Forecast, 2022-2029
Market Share Analysis, By Key Players, 2022
Competition Matrix
Company Profile
Continue….
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