Unified Communications Market to grow at 13.2% CAGR from 2016 to 2023

These solutions have become crucial for enterprise and consumer segment. Consumers and employees have become extremely dependent on their mobile devices and expect superior quality, real time notifications and assistance leading to increase in demand for cloud-based UC services.

The research report “Unified Communications (UC) Market Size By Application (Education, Enterprise, Healthcare, Government), By Product (Hosted/Unified Communications as a Service (UCaaS), On-Premise), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 - 2023”, by Global Market Insights, Inc. says Unified Communications Market size is forecast to hit USD 96 billion by 2023; impelled by increased mobility.

Rising demand in the enterprise sector is anticipated to propel the unified communications market over the forecast period. This can be attributed to the ability of the technology to deliver real-time communication services required for critical business operations. Enterprises are installing new solutions along with updating their existing telephony or messaging infrastructure. The trend is predicted to drive the unified communications market size due to the rising need to improve operational efficiency and reduce costs.

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UC technology provides scalability and flexibility coupled with the high availability for essential business tasks. Implementation of the technology in businesses has been amplified due to the numerous advantages associated with it including cost-efficiency, pay as per use and requirement, and reduced travelling time. Furthermore, it has eradicated the drawback of synchronous functions of geographically dispersed regions.

The capability of accommodating multiple functionalities of communication system on a single platform makes telephony an essential tool in the business environment. The telephony technology is expected to boost the UC market size due to its compatibility with automated transfer of fax, voice, or other information. Furthermore, the rising demand of IP and VOIP telephony in telecom & IT, BFSI, travel & hospitality and logistic & transportation industries serve as a significant driving factor for the unified communications market size.

The consumer goods and retail sector may offer significant opportunities to the unified communications market size over the next few years. The technology helps retail outlets to update the business procedures by empowering rapid real-time services and quicker transaction closures. Cloud-based UC applications ensure organizations to eradicate wealth spending and adopt to an operational cost prototype which enables them to pay based on the required capacity.

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Key insights from the report include:

  • Hosted unified communications market size is anticipated to witness significant growth over the forecast timeline. The advantages associated with these products such as rapid implementation, automated upgrades, and scalability will drive demand in the coming years. Furthermore, development of cloud technology systems is expected to boost the UCaaS market. 
  • Enterprises dominated as of 2015, occupying nearly 60% of the unified communications market revenue, which can be credited to the increasing adoption for enhancing business processes and advantages offered by unified communication systems such as mobility. 
  • Government applications will exhibit considerable growth prospects due to escalating adoption of the technology to accommodate the needs of citizens pertaining to the permit processing and public safety. These solutions enable governments to efficiently deal with the emergencies and crisis conferencing. 
  • Asia Pacific is anticipated to witness significant growth at a CAGR of nearly 15% over the next eight years. Increasing demand for mobility is driving the demand advanced UC systems across the region. Furthermore, huge population base is anticipated to offer favorable opportunities for the India and China unified communications market share. 
  • Industry players include Microsoft Corporation, Avaya Inc, Alcatel-Lucent, and Cisco Systems, NEC Corporation, Siemens, and ShoreTel, among others. The industry participants are focusing on frequent mergers and acquisitions to gain prominence in the UC market. For example, in 2015, Cisco Systems acquired Acano. The collaboration will benefit Cisco to expand the scalability and interoperability of their product portfolio enabling clients to connect from any mobile location.

Browse key industry insights spread across 82 pages with 22 market data tables & 31 figures & charts from this 2017 report Unified Communications (UC) Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/unified-communications-market-report  

Table of Contents

Chapter 1   Methodology and Scope

1.1    Research Methodology

1.1.1   Initial data exploration

1.1.2   Statistical modeling and forecast

1.1.3   Industry insights and validation

1.2   List of Data Sources

Chapter 2   Executive Summary

2.1    Unified Communications industry 3600 perspective, 2012 - 2023

Chapter 3   Unified Communications Industry Insights

3.1   Industry segmentation

3.2   Industry size, forecast and growth expectations, 2012 - 2023

3.3   Industry ecosystem analysis

3.3.1   Vendor landscape

3.4   Unified communications market dynamics

3.4.1   Growth drivers

3.4.1.1  Growing BYOD industry

3.4.1.2  Increased mobility

3.4.1.3  High UCaaS demand

3.4.2   Industry pitfalls & challenges

3.4.2.1  High capital investment

3.4.2.2  Interoperability concerns

3.5   Key growth opportunities

3.6   Porter’s analysis

3.7   Competitive landscape, 2015

3.8   PESTEL analysis

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