Global Unified Communications Market to Surpass 429.84 Billion by 2030 Drives with Enhanced Business Communication and Collaboration
SkyQuest projects that the global unified communications market will attain a value of USD 429.84 billion by 2030, with a CAGR of 17.8% during the forecast period (2023-2030). The rising adoption of the work-from-home model has become a compelling factor for employers to embrace unified communications as a service (UCaaS) solutions in the unified communications market. This shift is driven by the realization that UCaaS enables more flexible and efficient remote work and provides a cost-effective means for enterprises to reassess and optimize their operational expenses.
Westford,USA, Jan. 09, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the global unified communications market is experiencing robust growth, primarily fueled by the imperative for businesses to enhance their communication and collaboration capabilities in an ever-evolving digital environment. Key drivers of this burgeoning market include the pressing need for companies to boost productivity levels, streamline communication costs, and elevate customer satisfaction.
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Browse in-depth TOC on the “Unified Communications Market”
- Pages – 157
- Tables –59
- Figures – 75
The anticipated introduction and widespread adoption of 5G technology, coupled with high-speed internet connectivity, are poised to catalyze significant growth in the unified communications market during the forecast period. This boost is primarily attributed to the increasing demand for video and audio conferencing solutions that require high-speed connections with minimal latency.
Prominent Players in Global Unified Communications Market
- Microsoft Corporation
- Cisco Systems, Inc.
- Avaya Holdings Corp.
- Mitel Networks Corporation
- Unify GmbH & Co. KG
- NEC Corporation
- Alcatel-Lucent Enterprise
- Huawei Technologies Co., Ltd.
- Ribbon Communications Inc.
- ALE International
- RingCentral, Inc.
- IBM Corporation
- BroadSoft, Inc.
- BT Group plc
- 8×8, Inc.
- ShoreTel, Inc.
- Fuze, Inc.
- West Corporation
- Star2Star Communications
- Intrado Corporation
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On-premise Segment Expected to Dominate due to Widespread Adoption of Single-Use Chromatography
On-premise segment has maintained a stronghold over the global unified communications market, contributing significantly with a substantial market share of approximately 46.80% in 2022. Nonetheless, this dominance is poised for a gradual decline in the upcoming years. This anticipated shift is attributed to the expected decrease in sales of the latest on-premise UC licenses and systems.
The market in Europe emerged as the dominant force in the global unified communications market in 2022. This significant market dominance can be attributed to several key factors driving the region’s adoption of Unified Communication systems. The increasing prevalence of Bring Your Own Device (BYOD) services in workplaces has played a pivotal role in shaping this trend.
Hosted Unified Communications Segment is Expected to Witness Notable Growth due to Significant Cost Advantages
Hosted unified communications segment is poised for remarkable growth, with an anticipated CAGR exceeding 20.4% in 2022. This impressive surge in adoption can be attributed to several key factors, primarily the significant cost advantages of hosted UC solutions in the global unified communications market.
Regional markets Asia Pacific is poised for substantial growth in the unified communications market, with an anticipated CAGR of approximately 21.7% projected from 2023 to 2030. This remarkable expansion can be attributed to several key factors driving the region’s adoption of unified communications solutions.
A comprehensive analysis of the major players in the unified communications market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Global Unified Communications Market
- In 2023, Zoho Corporation unveiled its latest Unified Communications and Collaboration (UC&C) platform, Trident. This innovative offering is designed to accelerate digital adoption within businesses by integrating two of Zoho’s prominent applications, Zoho Cliq and Zoho Meeting. Trident aims to enhance communication capabilities and foster improved collaboration among teams, catering to the evolving needs of modern enterprises.
- In 2022, Microsoft Teams, a leading player in the communication and collaboration arena, introduced various new features to its communication channels. These updates included connecting with external stakeholders seamlessly and expanding the platform’s reach and versatility.
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Key Questions Answered in the Global Unified Communications Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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