Press release
Unified Communications and Collaboration Market 2022: In-depth Research with Emerging Growth, Trends, Regional Status of Top Key Players, Driving Factors, Business Strategies and Industry Size Forecast to 2028
Unified Communications and Collaboration Market 2022-2028
New study report" Unified Communications and Collaboration Market 2022 Market Opportunities, Challenges, Strategies, and Forecasts 2028″ has been added to Fortune Business Insights.
Market Overview:
The global unified communications and collaboration market size are expected to grow from USD 47.26 billion in 2021 and reach USD 113.81 billion by 2028, exhibiting a CAGR of 13.4% during the forecast period.
The growing adoption of cloud services among end-users can have a tremendous impact on this market growth in the forthcoming years, states Fortune Business Insights, in a report titled "Unified Communications and Collaboration (UC&C) Market, 2021-2028." The market size stood at USD 41.83 billion in 2020.
Unified communications and collaboration comprise effective communication services designed to enhance organizations' efficiency and productivity. The rising adoption of cloud-based services is expected to boost the product's adoption. Additionally, major players focus on the development of effective cloud-based communication services. For example, Tata Tele Business Services (TTBS) launched its cloud-based solution named "smart flow" in January 2021. The solution offers an excellent communication platform that requires low capital spending, is easy to set up, and eliminates installation charges. These factors are likely to promote market growth in the upcoming years.
Driving Factors:
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.
List of Companies 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
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Covide-19 Impact:
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Method of Research:
Fail-safe, modern research methodologies are employed for the Unified Communications and Collaboration market analysis. An exhaustive primary and secondary research conducted on the market using robust research techniques aid in the prediction of the market size at the end of forecast period. Top-up and bottom-down approaches were maintained in the entire market study.
Report Coverage:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into the regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments such as product launches, partnerships, mergers, and acquisitions.
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.
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Segmentation:
The regional summarization of the Unified Communications and Collaboration market offers competitive strategies in different regions across the globe. Moreover, the market's key players are contributing to the market growth that tends to maximize the profits through the partnership in several places. The Unified Communications and Collaboration market research is done broadly with the mentioned region to embrace the outlook and the latest trend with the prospects in the given period of 2022-2028.
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.
Continue….
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