Unified Communications Market Size Worth US$ 237.74 Billion by 2027 | Industry Expected CAGR 17.50% | IMARC Group

Unified Communications Market Overview :

The latest research study "Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global unified communications market size reached US$ 89.37 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 237.74 Billion by 2027, exhibiting a growth rate (CAGR) of 17.50% during 2022-2027.

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Unified communications (UC) represent systems that provide and combine numerous enterprise communications channels, including voice, video, personal and team messaging, voicemail, content sharing, etc. They enhance business operations and human communications by regulating workflow, lowering latency, and eliminating media and device dependencies. UC provides several other benefits, such as improved efficiency of tools and applications, including UC-as-a-Service (UCaaS), better prioritization of information, maximized revenue of business processes, improved customer service, etc. Consequently, they find extensive applications in various industries, such as energy and utilities, healthcare, manufacturing, aerospace and defense, telecommunications, banking, financial services, and insurance (BFSI), etc.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Unified Communications Market Trends and Drivers:

The growing sales of mobile phones and the emerging trends of bring your device (BYOD) and the hybrid workplace model across countries are primarily augmenting the unified communications market. Furthermore, the escalating demand for these solutions among enterprises to offer mobility, flexibility, and increased productivity is also bolstering the market growth.

Besides this, unified communications enable precise and instant communication between employees, provide a highly contextualized mobile service, promote team collaborations, etc., which is acting as another significant growth-inducing factor. Moreover, the rising utilization of artificial intelligence (AI) in UC to analyze conversations, simplify and automate tasks, deliver supporting information, etc., is further catalyzing the global market.

Apart from this, the increasing presence of social media platforms, extensive R&D activities, and the introduction of cloud-based systems and enhanced software that enable users to join web conferences and make calls online simultaneously are expected to fuel the unified communications market in the coming years.

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Global Unified Communications Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Unified Communications Companies:

8x8 Inc., Avaya Holdings Corp., Cisco Systems Inc., GoTo (Citrix Systems Inc.), Huawei Technologies Co. Ltd., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation (AT&T Inc.), Ringcentral Inc., Verizon Communications Inc. and Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson).

The report has segmented the market on the basis of component, product, organization size and end user.

Breakup by Component:
• Solution
o Instant and Unified Messaging
o Audio and Video Conferencing
o IP Telephony
o Others
• Services
o Professional Services
o Managed Services

Breakup by Product:
• On-premises
• Hosted

Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by End User:
• Enterprises
• Education
• Government
• Healthcare
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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