The unified communication from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Unified Communication Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The unified communication (UC) market size has grown rapidly in recent years. It will grow from $67.06 billion in 2023 to $79.06 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to rising demand for greater control and customization of communication infrastructure, rising demand for organizations to transform their business models, rising adoption of unified communication solutions, increasing demand for enterprise mobility, and rise in social business integration.
The unified communication (UC) market size is expected to see rapid growth in the next few years. It will grow to $152.99 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to growing digital transformations, rising demand for unified communications as a service (UCAAS), increasing demand for cloud-based solution, rising demand for video conferencing for better communication, and growing digital transformation initiatives. Major trends in the forecast period include adoption of advanced technologies, advancements in artificial intelligence, rising demand for real time and remote collaboration tools, increasing demand for mobility and BYOD, and increasing implementation of digital transformation.
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Scope Of Unified Communication Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Unified Communication Market Overview
Market Drivers –
The growing digital transformation is expected to propel the growth of the unified communication market going forward. Digital transformation refers to incorporating digital technologies throughout an organization, leading to significant shifts in its operations and how it provides value to customers. The growing digital transformation is attributed to integrating digital technologies into all business areas, fundamentally changing how organizations operate and deliver customer value. Unified Communication (UC) helps digital transformation by integrating various communication tools into a single platform, enhancing collaboration and productivity, enabling remote work, and improving customer interactions through streamlined and efficient communication channels. For instance, in May 2023, the Ministry of Business, Innovation and Employment, a New Zealand-based government agency, the New Zealand digital technologies sector contributed approximately $7 billion to the (gross domestic product) GDP in 2021, with an impressive annual growth rate of 10.4%. Therefore, the growing digital transformation is driving the unified communication market.
Market Trends –
Major companies operating in the unified Communication market are developing advanced solutions, such as the contact center-as-a-service (CCaaS) collaboration platforms, to enhance customer and employee experiences. A Contact Center-as-a-Service (CCaaS) collaboration platform provides a cloud-based solution, allowing businesses to seamlessly manage customer interactions and internal communications. For instance, in March 2023, Avaya, a US-based technology company, launched the Avaya Experience Platform, an AI-powered, contact center-as-a-service (CCaaS) collaboration platform that offers comprehensive workstream collaboration and unified communications technologies in Australia and New Zealand. AXP boosts productivity for SMEs and mid-market organizations by enabling hybrid work, with over three-quarters of Australian workers preferring this model. Staff can chat, message, video call, and send files seamlessly, ensuring efficient collaboration before, during, and after meetings. AXP reduces workloads, allowing staff to focus on customer interactions, delivers real-time information via AI-powered virtual assistants, and uses skills-based routing to match customers with the best-suited staff.
The unified communication market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Organization: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By Application: Enterprises, Education, Government, Healthcare, Other Applications
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Regional Insights –
North America was the largest region in the unified communication (UC) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unified communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the unified communication market are Microsoft Corporation, Verizon Communications Inc., Comcast Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., International Business Machines Corp., Cisco Systems Inc., Oracle Corporation, HP Development Company L.P., NEC Corporation, Lumen Technologies, Windstream Intellectual Property Services LLC, Zoom Video Communications Inc., Citrix Systems Inc., Avaya LLC, Tata Communications, RingCentral Inc., Genesys, ALE International, Vonage Holdings Corp., Mitel Networks Corp., GoTo Technologies USA Inc., 8×8 Inc., Dialpad Inc.
Table of Contents
1. Executive Summary
2. Unified Communication Market Report Structure
3. Unified Communication Market Trends And Strategies
4. Unified Communication Market – Macro Economic Scenario
5. Unified Communication Market Size And Growth
…..
27. Unified Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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