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Unified Communications And Collaboration (UCC) Global Market Report 2024 - By Growth, Size, Share, Trends And Analysis, Forecast To 2033
Unified Communications And Collaboration (UCC) Market
As per the report, the unified communications and collaboration (UCC) market size has grown rapidly in recent years. It will grow from $82.21 billion in 2023 to $98.33 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The unified communications and collaboration (UCC) market size is expected to see rapid growth in the next few years. It will grow to $202.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%.
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Remote Work Boosts UCC Market Growth
The increase in remote work is expected to propel the growth of the unified communications and collaboration (UCC) market going forward. Remote work refers to the practice of carrying out job duties and responsibilities from a location outside the conventional office, commonly from home or another remote site, using digital tools for communication and collaboration. Remote work is on the rise due to technological advancements, shifting employee preferences, and the impact of the COVID-19 pandemic, which has compelled organizations to embrace flexible work arrangements for business continuity and efficiency. Unified communications and collaboration tools help in remote work by integrating various communication channels, such as voice, video, and messaging, into a single platform, enabling seamless communication and collaboration among remote teams. For instance, in September 2022, according to the United States Census Bureau, a US-based federal statistical system, the number of people primarily working from home in the United States tripled from 5.7% (approximately 9 million people) in 2019 to 17.9% (27.6 million people) in 2021. Therefore, the increase in remote work is driving the unified communications and collaboration (UCC) market.
Advancements in Cloud-Based Unified Communication
Major companies operating in the unified communications and collaboration (UCC) market are developing AI integrated and cloud-based solutions to enhance productivity, streamline workflows, and improve user experiences across diverse industries. AI-integrated and cloud-based solutions utilize AI algorithms to improve various aspects of communication, such as speech recognition, natural language processing, and predictive analytics, while leveraging cloud infrastructure for scalability, flexibility, and accessibility. For instance, in June 2021, Cisco Systems Inc., a US-based technology company, launched Webex suit, an AI-powered, cloud-based collaboration and communication solution. The Webex Suite offers a wide array of tools to boost collaboration in hybrid work setups with seamless video/audio conferencing, chat, content sharing, enterprise calling, customizable webinars, AI features, Webex Assistant, cloud device management, and advanced security. This demonstrates a move towards cloud-based unified communication solutions, in line with the market's direction towards more flexible, scalable, and efficient communication tools.
The unified communications and collaboration (UCC) market covered in this report is segmented -
1) By Type: Telephony, Conferencing, Unified Messaging, Other Types
2) By Deployment: Hosted, Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Industry: Information Technology (IT) And Telecommunications (Telecom), Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Manufacturing, Education, Government, Other Industries
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Major companies operating in the unified communications and collaboration (UCC) market are Microsoft Corporation Inc., Verizon Communications Inc., AT&T Inc., Huawei Technologies Co. Ltd., HP Development Company L.P., Amazon Web Services Inc. , International Business Machines Corporation, Cisco Systems Inc., Orange S.A., Oracle Corporation , Adobe Inc., Lumen Technologies, Zoom Video Communications Inc., Citrix Systems Inc., Avaya LLC, RingCentral Inc., Genesys Cloud Services Inc., Zoho Corporation Pvt. Ltd., Mitel Networks Corporation, GoTo Technologies USA Inc., 8x8 Inc., Vonage Holdings Corp., BlackBerry Limited, Lifesize, Trello Inc.
Contents of the report:
1. Executive Summary
2. Unified Communications And Collaboration (UCC) Market Report Structure
3. Unified Communications And Collaboration (UCC) Market Trends And Strategies
4. Unified Communications And Collaboration (UCC) Market - Macro Economic Scenario
5. Unified Communications And Collaboration (UCC) Market Size And Growth
…..
27. Unified Communications And Collaboration (UCC) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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