Unified Communications Market on Track for Strong Growth, Estimated to Grow at 16.7% CAGR Through 2029

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What Is the Expected CAGR for the Unified Communications Market Through 2025?
The market size of unified communications has considerably expanded over the past few years. With an estimated future growth, it is projected to increase from $79.06 billion in 2024 to $92.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.3%. The historical growth has been driven by factors such as enhanced efficiency of remote workers, heightened demand for connected interfaces, transition to remote and hybrid employment practices, and improved workforce productivity resulting in cost savings.

What's the Projected Size of the Global Unified Communications Market by 2029?
In the forthcoming years, the unified communications market is projected to witness significant growth. It is predicted to reach $172.02 billion in 2029, with a compound annual growth rate (CAGR) of 16.7%. The escalation in the forecast period can be ascribed to factors such as augmenting adoption of IT in corporate businesses, expanding authorities' initiatives, growing apprehensions about data security and privacy, the burgeoning significance of customer experience, and increasing value of collaboration tools. The forecast period is expected to witness major trends like expanded adoption of remote working, technological progression, adoption of cloud technology, embracing 5G technology, and swiftly accepting advanced technologies.

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Top Growth Drivers in the Unified Communications Industry: What's Accelerating the Market?
The projected growth of the unified communications market is largely tied to the growing popularity of remote work. This term describes a work set up where employees can carry out their responsibilities from anywhere other than the traditional office environment. Technological advancements enabling smooth communication and coordination, as well as the ability to balance personal and professional life, have contributed to the surge in remote work. Unified Communications facilitates remote work by combining various communication tools into a single platform, ensuring effortless cooperation and effective information exchange regardless of geographical location. For instance, AT&T Inc., a telecommunications firm from the U.S., reported in February 2022 that the percentage of businesses adopting a hybrid work model, where employees split their time between remote and office-based work, is anticipated to jump from 42% in 2021 to 81% by 2024. Consequently, the rising trend of remote work is a key driver for the unified communications market.

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What Trends Will Shape the Unified Communications Market Through 2029 and Beyond?
Leading companies in the unified communications market are focusing on creating technologically advanced solutions like cloud-based unified communication services, in order to boost scalability, adaptability, and integration across multiple communication channels. This form of communication hosted on cloud servers brings together a variety of communication tools, improving scalability, flexibility, and cost-effectiveness by removing the requirement for physical hardware and facilitating updates and maintenance. For example, Ooredoo, a Qatar-based telecommunications firm, introduced Cloud PABX, a new cloud-based unified communications solution, in April 2023. This product streamlines communication processes for businesses, especially SMBs, by offering sophisticated collaboration and communication tools that work with Webex Calling, Webex Meeting, Microsoft Teams, and an array of IP phones. This includes principal services like fixed mobile convergence, unified messaging, call control services, as well as voice and video conferencing.

What Are the Main Segments in the Unified Communications Market?
The unified communicationsmarket covered in this report is segmented -

1) By Product Type: On-Premise, Cloud-Based
2) By Component: Solution, Services
3) By Application: Unified Messaging, Conferencing, Video, Contact Center, Telephony, Other Applications
4) By End User: Healthcare, Education, Government, Banking, Financial Services And Insurance, Information Technology And Telecom, Retail, Enterprises, Other End Users

Subsegments:
1) By On-Premise Unified Communications: Unified Messaging Systems, VoIP (Voice over Internet Protocol) Solutions, Video Conferencing Systems, Collaboration Software, Presence Management Tools, Call Center Solutions
2) By Cloud-Based Unified Communications: Hosted VoIP Services, Cloud Video Conferencing Solutions, Cloud-Based Collaboration Platforms, Unified Messaging in the Cloud, SaaS (Software as a Service) Communication Tools, Integrated Communication Services

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Which Top Companies are Driving Growth in the Unified Communications Market?
Major companies operating in the unified communications market are Microsoft Corporation, Verizon Communications Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, NEC Corporation, Atos SE, Logitech International S.A., Zoom Video Communications Inc., Avaya Holdings Corp., RingCentral Inc., Plantronics Inc., Mitel Networks Corporation, Alcatel-Lucent Enterprise, Barco N.V., 8x8 Inc., Sangoma Technologies Corporation, BlueJeans Network Inc., Lifesize Inc., Pexip Holding ASA, CounterPath Corporation, StarLeaf Ltd., Fuze Inc., Grandstream Networks Inc., Aastra Technologies Limited, Crestron Electronics Inc., Zultys Inc.

Which Regions Will Dominate the Unified Communications Market Through 2029?
North America was the largest region in the unified communications market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unified communications market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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