Unified Communication Market Size, Share and Global By Application (Video, Telephony, Conferencing and others), By Deployment (On-premise & Cloud-Based/Hosted), By Industry Vertical (Retail, Healthcare, Manufacturing and others) and Regional Forecast, 2024-2032

The robust evolution and development of Bring Your Own Devices (BYOD) industry has been recognised as the most favourable trend for the growth of unified communications and collaboration market. According to world forum report 2018, bring your own device market worth to reach USD 135.15 billion in 2017, is expected to exceed a revenue of USD 350 billion by 2022. Unified communication (UC) is a system used to integrate various real-time communication tools and applications, with the goal of optimizing business communication, association, and productivity.

A Unified Communication solution can be integrated with services such as Email, web applications, social media, and business tools such as customer relationship management (CRM) system. Unified Communication solution provides benefits such as better prioritization of information, improving the overall efficiency of tools and application such as UC-as-a-Service (UCaaS), reducing costs, increased the revenue of business processes, and providing better customer service. UC system provides functions such as global conferencing, voicemail-to-email, paging systems, call routing/control, etc.

Adoption of IoT automation, the growth of Voice over Internet Protocol (VoIP) and optimization software are the key drivers responsible for the growth in the market. Further, lower data storage costs and the adoption of virtual PBX are the drivers expected to drive the unified communication solution market globally. Development and deployment of cloud-based solutions and enhanced software such as Web Real-Time Communication (WebRTC) in UC have enabled users to join web conferences and make calls online simultaneously. For instance, in January 2017, Microsoft Corporation acquired technology assets of Event Zero Pty Ltd to deploy UC commander solutions in Microsoft’s Outlook. This acquisition has allowed Microsoft Corporation to improve and expand built-in management tools for Skype for business.

KEY PLAYERS COVERED

Some of the key players in the unified communication solution market include Cisco Systems Inc.; Microsoft Corporation; IBM Corporation; Hewlett Packard Enterprise, Verizon Communications Inc.; Polycom Inc. and others.

SEGMENTATION

REGIONAL ANALYSIS

North America is expected to be the largest unified communication solution market over the forecasted period due to huge investment done by regional governments and leading players across the region for technological development in the Unified Communications as a service (UCaaS). In April 2017, NEC Corporation and Hewlett Packard, Enterprise entered into a collaboration to create UC solutions jointly, thereby capturing new opportunities in developed countries such as the US and Canada. This partnership has assist organizations to quickly accelerate and adopt mobile-first networking services to improve UC based productivity.