Unified Communications Market Size and Growth Rate:
According to our research report, the Global Unified Communications Market is expected to grow at a CAGR of 12.60% from 2019 to 2025 and having a decent growth structure in previous years. The BFSI segments and Energy and services publics have the potential for maximum growth and should create lucrative opportunities for industry players.
With the adoption of the Internet of Things (IoT), organizations have been able to create an autonomous work environment by integrating devices and data with IoT analytical tools. Large companies quickly adopted the Unified Communications-as-a-Service platform (UCaaS), a cloud delivery model that provides clustered solutions by combining various communication channels such as voice, text, chat, and email. As the adoption of cloud-based technologies increases, the use of social network platforms drives market growth. Today, cloud technology is widely adopted by all companies that offer low-cost communication solutions for companies. With cloud computing, the models can work at any time and place. Cloud implementation also allows organizations to combine additional infrastructure technologies, such as software-defined limits, to create a solid and secure platform.
Factors Limiting the Growth of Unified Communications Market:
Some of the factors that inhibit the growth of the unified communications market are the initial excessive investment costs, the security problems, the lack of interoperability among other providers of the unified communications platform and the lack of awareness of consumers. The global analysis of the market covers many elements such as the improvement of communication solutions, the expansion of applications, the dissemination of cloud solutions and intelligent devices, the growth associated with the business industries, end-use, demand in developing countries and much more, which provide opportunities for growth in the unified communications market.
This research report includes following segmentation for the Unified Communications Market:
Unified Communications Market – By Platform
- Unified Messaging
Unified Communications Market – By Deployment Model
Unified Communications Market – By End-User
- IT & Telecom
- Travel and Hospitality
Unified Communications Market – By Region
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Regionally, North America dominated the world market in 2018. Due to the high rate of adoption of UC technology, it is expected that it will lead to the regional market during the forecast period. The emergence of several key players and the growing popularity of the BYOD solutions further contribute to regional growth. The Asia Pacific market is expected to grow considerably due to popular trends among companies. The growth of local markets may be due to the increase in the demand for cooperation in the region, as well as the increase in the emphasis on cost savings. Sectors such as outsourcing of business processes (BPO), financial and financial services (BFS), government, communications, logistics, and hospitality have become unified communications for effective collaboration and communication.
Leading Market Players of Unified Communications Market profiled in the report are:
- Cisco Systems Inc
- Microsoft Corporation
- Avaya Inc
- IBM Corporation
- Verizon Communications
- Polycom, Inc
- BT Group
- NEC Corporation
- Unify GmbH & Co. KG
- Plantronics Inc
- ShoreTel Inc
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