IMARC Group, a leading market research company, has recently releases report titled “Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global unified communications market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Unified Communications Market?
The global unified communications market size reached US$ 107 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 276 Billion by 2028, exhibiting a growth rate (CAGR) of 17% during 2023-2028.
What is Unified Communications?
Unified communication (UC) is a system that offers and combines several corporation communication channels, including personal, voice, video, and team messaging, voicemail, and content sharing, to enhance business operations and human communications. It minimizes latency, eliminates media and device dependencies, and improves workflow regulation. In addition, UC offers various benefits, such as improved tool and application efficiency, better prioritization of information, and increased revenue from business processes. It also provides better productivity, streamlines IT services, reduces costs, and enhances cyber security and customer experience through UC-as-a-Service (UCaaS). Owing to these benefits, unified communications are widely adopted in manufacturing, aerospace and defense, energy and utilities, healthcare, and telecommunication industries.
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What are the growth prospects and trends in the Unified Communications Industry?
The market is primarily driven by the expanding information and technology (IT) sector and the adoption of enterprise business operations to improve the overall organizational performance of an enterprise. In addition, the several benefits offered by UC, such as allowing precise and instant communication between employees, promoting team collaborations, providing a highly contextualized mobile service, and increasing the productivity of remote workers, are contributing to the market growth.
Moreover, the integration of artificial intelligence (AI) in UC to automate tasks, deliver supporting information, and analyze conversations, represents another major growth-inducing factor. Along with this, the growing popularity of mobile phones, hybrid work culture, and the surging trend of bringing your own device (BYOD) is propelling the market growth.
Furthermore, extensive research and development (R&D) activities and the implementation of government initiatives for promoting the adoption of unified communication solutions for daily operations in various end-use industries are creating a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories
Breakup by Component:
- Solution
- Instant and Unified Messaging
- Audio and Video Conferencing
- IP Telephony
- Others
- Services
- Professional Services
- 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
Who are the key players operating in the industry?
The report covers the major market players including:
8×8 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)., etc.
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