The Global Unified Communications Market size is expected to reach $293 billion by 2027, rising at a market growth of 19. 6% CAGR during the forecast period. Unified communication is a constantly evolving field.
New York, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Unified Communications Market By Organization Size, By Solution, By Product, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06177789/?utm_source=GNW
The technology offers advanced and integrated communications devices that enable companies to obtain various advantages like simplified business processes, collaboration, and reducing the overall cost of business communications. Providers of UC solutions are constantly putting efforts to streamline their offerings, and thus making them simpler to buy, install, and manage. Vendors have taken into account past user experience for creating the latest solutions and improving the ones that are already available.
Business communications are very dynamic and companies desire to reduce cost, manage complexity, and enhance productivity. As a result, the adoption rate of Unified communication solutions has been increased significantly, and these solutions are majorly available in a hosted or cloud-based Unified Communications as a Service (UCaaS) model. Companies are re-thinking their business strategies in order to get flexibility and agility in business and enhance overall productivity. In a highly dynamic business environment, the integration of real-time telephony systems, data, and video communications is a crucial component of business activities. Therefore, companies are increasingly deploying these solutions to enhance collaboration and communications with remote employees internally and externally with customers, partners, and suppliers.
Due to the high transmission rate of the current COVID-19 pandemic and surge in the number of patients suffering from it, companies preferred to discontinue their on-premise operations and adopt work from home model. As a result, many large enterprises and SMEs have harnessed unified communications technology to facilitate smooth communication between team members and co-working teams. The global pandemic has also pushed organizations like government bodies, educational institutes, and healthcare vendors to embrace strong business communications tools, which would bring a major transition in communications ways over the upcoming years.
The adoption of unified communications tools has significantly increased due to the requirement for web and video conferencing services, thereby growth opportunities for the market vendor. This has facilitated vendors of this solution to explore new opportunities and enhance revenue and market penetration during the pandemic.
Market Growth Factors:
Internet of Things is witnessing higher penetration in the global market
The demand for IoT is directly proportional to the demand for cost-effective data storage, data protection, and backup among the end-users such as small and medium enterprises (SMEs) and large enterprises. In addition, end-user enterprises are constantly moving to cloud computing technologies and there is a massive installation of cloud-based IoT software and platform. UC includes real-time communications to allow the streamlined collaboration of people. IoT played a pivotal role in advancing the UC.
Cloud-based solutions are witnessing a massive demand
The growth of the unified communications market would be driven by the increasing deployment of cloud-based technology and the massive utilization of social media platforms. Currently, cloud technology is witnessing massive adoption among business of every size that offers enterprise cost-effective communication solutions. With the help of cloud computing, companies become empowered to operate and function from any location at any time.
Market Restraining Factor:
Security and privacy concerns are expected to hamper the market growth
The main concerns for companies are the privacy and security of the video content shared across platforms pose challenges for the adoption of UC solutions in the global market. Moreover, the chances of exploitation, data breaches, and information leakages have further increased the concerns among the companies regarding copyright and Digital Rights Management (DRM). There were a large number of data breach cases faced by finance, information, healthcare, manufacturing, and public sectors.
Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Large enterprises obtained the maximum revenue share of the unified communications market in 2020. Workers who are technology-oriented prefer and demand the next-generation level of communication at work in order to enhance efficiency and productivity. Moreover, the growth of the market would be driven by the surge in the millennial population at workplaces and the need for multi-channel.
Based on Solution, the market is segmented into Instant & Unified Messaging, Audio & Video Conferencing, IP Telephony, and Others. One of the most preferred modes of communication among enterprises is voice. Though, companies are having huge demand for video and messaging services so as to obtain better and expansive communication. As a result, the demand for audio and video conferencing solutions has been increased among the companies. Consequently, web and video conferencing vendors like Microsoft Corporation; Avaya Inc.; Cisc9 Systems, Inc.; and Highfive are providing proprietary video conferencing room services.
Based on Product, the market is segmented into On-premise and Hosted. The on-premise segment garnered the maximum revenue share of the unified communications market in 2020. However, it is expected that there would be a decline in the sales of new on-premise unified communications systems and licenses. This is due to installation complications and limitations in handling a new-age full-stack UC platform.
End User Outlook
Based on End User, the market is segmented into Enterprises, Government, Healthcare, Education and Others. In 2020, the government segment obtained the prominent revenue share of the unified communications market in 2020. The government sector is extensively adopting video conferencing tools for efficient communications among the offices situated at remote locations of various departments. The new-age government phone system offers a separate conference bridge to each user, thereby making UC a suitable platform to host virtual meetings, mobile e-mailing, and instant messaging.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, Europe emerged as one of the leading regions in the global unified communications market. Moreover, the regional market is likely to showcase a similar kind of trend even during the forecasting period. The surge in the demand for UC solutions in the region has created lucrative opportunities for the service vendors to set up their businesses.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunners in the Unified Communications Market. Companies such as AT&T, Inc., Cisco Systems, Inc., IBM Corporation are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, NEC Corporation, Nokia Corporation, Hewlett Packard Enterprise Company, AT&T, Inc. (AT&T Intellectual Property), Verizon Communications, Inc., Avaya Holdings Corporation, and Plantronics, Inc. (Polycom, Inc.).
Recent Strategies Deployed in Unified Communications Market
Partnerships, Collaborations, and Agreements:
Aug-2021: Avaya came into a strategic partnership with Microsoft, a company that engages in the development and support of software, services, devices, and solutions. The partnership aimed to develop a robust set of joint cloud communications solutions to shape the future of customer and employee experience.
Aug-2021: Cisco Webex joined hands with Spectrum Enterprise, a part of Charter Communications. The collaboration aimed to launch Unified Communications (UC), an all-inclusive solution that integrates Spectrum Enterprise managed services and voice calling with the next-generation messaging, meeting, content management, and app-based capabilities of Webex.
Jul-2021: AT&T teamed up with Google Cloud, a leading vendor of cloud technology in the digital world. The collaboration aimed to launch the latest solutions within the 5G and Edge computing portfolio including an AT&T on-premises solution for Multi-access Edge Computing, and a Network Edge offering through 5G, wireline, and LTE.
Jul-2021: Microsoft came into a strategic partnership with BT, a British multinational telecommunication holding company. The partnership aimed to boost innovation and growth in the telecoms industry and redefine the future of voice calling. Through this partnership, the two companies would develop innovative cloud-based products and services for BT’s voice customers and the broader telecoms sector.
Jul-2021: Cisco partnered with Bharti Airtel, a vendor of premier communications solutions based in India. The partnership aimed to introduce advanced connectivity solutions for businesses, which are based on Cisco’s SD-WAN technology. These solutions would help the companies to develop, install, configure, migrate, and manage their WAN infrastructure rapidly while catering to the real-time demands of their cloud computing, mobility, and digitization.
Jun-2021: AT&T joined hands with Cisco systems, a worldwide leader in IT and networking solutions. The collaboration aimed to help the companies to adapt to the changing communication needs of the hybrid workforce and accept the new normal. Following this collaboration, AT&T would leverage Webex Calling and the trusted Unified Communications Manager, Cloud (UCMC) of Cisco. The two companies would help the enterprises to optimize operations and speed up digital transformation in every kind of environment.
Jun-2021: Microsoft entered into a partnership with Lumen Technologies, a company that offers communications, network services, security, cloud solutions, voice, and managed services. The partnership aimed to introduce Lumen Solutions for Microsoft Teams which is a managed, unified communications solution that harnesses the Lumen platform to enhance worker productivity, business agility, and customer support.
May-2021: Verizon Business entered into a partnership with RingCentral, an American publicly traded provider of cloud-based communications and collaboration solutions for businesses. The partnership aimed to combine cloud-based enterprise communication solutions with integrated team messaging, video meetings, and a cloud phone system to enterprise businesses, establishing the foundation for an enriched workplace experience and providing workers the ability to work and collaborate from anywhere.
Mar-2021: Alcatel-Lucent teamed up with RingCentral, a leading vendor of global enterprise cloud communications, collaboration, video meetings, and contact center solutions. The collaboration aimed to introduce Rainbow Office, powered by RingCentral, a Unified Communication as a Service (UCaaS) solution in Ireland.
Mar-2021: Microsoft partnered with 8x8, a leading vendor of the integrated cloud communications platform. Through this partnership, 8x8 Contact Center would be available for Microsoft Teams that is certified to integrate with Microsoft Teams. The partnership aimed to allow IT and service leaders to smoothly integrate customer engagement with global voice communications into Teams’ workflows to generate deeper insights across all interactions.
Feb-2021: Alcatel-Lucent formed the partnership with 4PSA, a cloud PBX and Unified Communications platform provider. The partnership aimed to provide smooth communication solutions. Through this partnership, the companies would provide next-generation SIP business phones of ALE and the advanced features of the VoipNow cloud communications platform by 4PSA to the market.
Feb-2021: Cisco Webex formed a partnership with Masergy, the software-defined network and cloud platform for the digital enterprise. The partnership aimed to improve Masergy Unified Communications as a Service (UCaaS) solution by integrating hosted UC calling platform of Masergy and Cisco Webex into a single application experience, which would enable customers to add Masergy’s Managed SD-WAN Secure connectivity services.
Jan-2021: Alcatel-Lucent came into a partnership agreement with Exclusive Networks, a global trusted cyber security specialist for digital infrastructure. The partnership aimed to expand channel market reach to Australia and New Zealand, the Philippines, and Thailand. Through this partnership, Exclusive Networks would provide the complete spectrum of ALE communication/collaboration and networking solutions through its reseller network.
Jan-2021: Cisco Webex came into partnership with Fusion Connect, a trusted partner for enabling the connected enterprise. Through this partnership, the award-winning FusionWorks platform would be available with Cisco Webex, thereby creating the most robust unified communications portfolio for its customers. With completely integrated Webex technology, Fusion’s users would get a next-generation, all-in-one collaboration tool that provides simple, flexible communications, thereby helping the companies to become more productive and secure with any device from anywhere.
Acquisitions and Mergers:
Aug-2021: Avaya took over CTIntegrations, a specialized contact center software development and system integration company based in Austin, Texas. Through this acquisition, Avaya would obtain the additional digital capabilities of CTIntegrations for its broad contact center customer base and would further improve the Avaya OneCloud AI-powered experience platform.
May-2020: Microsoft took over Metaswitch Networks, a leading vendor of virtualized network software and voice, data, and communications solutions for operators. Following this acquisition, Microsoft would strengthen its position to better serve operators around the globe through constant investment in Azure, hence adding depth to its hyperscale cloud infrastructure with the specialized software needed to run virtualized communication applications, functions, and networks.
Apr-2020: Verizon Business completed the acquisition of BlueJeans Network, a trusted enterprise-grade video conferencing and event platform. The acquisition aimed to expand the immersive unified communications portfolio of Verizon. Through this acquisition, the simple, smart, and trusted meeting platform of BlueJeans would be integrated with unified communications as a service business of Verizon.
Product Launches and Product Expansions:
Sep-2021: Alcatel-Lucent unveiled the latest high-density, top-of-rack LAN and data center switches under OmniSwitch 6900 switching range. Through this launch, the company would fulfill the high-performance infrastructure needs of enterprises and vertical sectors. Moreover, these switches are suitable for enterprise data centers and core networks and available around the world.
Jun-2021: Avaya together with RingCentral launched its latest capabilities for the Avaya Cloud Office by RingCentral Unified Communications as a Service (UCaaS) solution. This solution includes many Avaya device-specific improvements offering simple migration, additional video, and global expansion features helping customers to connect across any device and work environment.
Jun-2021: Verizon Business rolled the latest Advanced Secure Access Service Edge (SASE) solution. Through this launch, the company would integrate SD-WAN capabilities with hybrid network connectivity and security services to develop a unified, cloud-delivered service in order to fulfill the increasingly complicated digital demands of businesses.
Apr-2021: Cisco unveiled Routed Optical Networking solution. Through this launch, the company would assist communication service providers (CSPs) and web-scale companies to cater to the rising demand and assist 5G network rollouts. The product is integrated with the expertise of Acacia in optics, Segment Routing, and Ethernet VPN together with the Cisco Crosswork Cloud capabilities.
Mar-2021: Avaya introduced the latest set of capabilities for Avaya Spaces. Through this expansion, AI-enhanced meetings and simpler, integrated voice and video calling powered by Avaya OneCloud CPaaS (Communications Platform as a Service) can extend current on-premise calling technology with Avaya Spaces. Avaya Spaces is a modern work stream collaboration (WSC) platform that provides advanced Unified Communications capabilities through the desired device of a user.
Jun-2021: NEC Corporation launched NEC UNIVERGE BLUE CONNECT in the UK. Through this launch, the company aimed to expand its fully integrated unified communications as a service solution (UCaaS), and NEC UNIVERGE BLUE ENGAGE, a contact center as a service (CCaaS) solution in the UK.
Apr-2021: Avaya expanded its geographical reach by making Avaya OneCloudTM CCaaS contact center solution available across forty nations. Through this expansion, the company would offer businesses around the world digital capabilities that can better establish a connection among customers and employees across any touch point, modality, device, and channel.
Sep-2020: Avaya with RingCentral expanded its geographical reach by introducing Avaya Cloud Office by RingCentral across Europe. Through this expansion, the company’s solution would be commonly available in France, Ireland, and the Netherlands.
Scope of the Study
Market Segments covered in the Report:
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
• Instant & Unified Messaging
• Audio & Video Conferencing
• IP Telephony
By End User
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Cisco Systems, Inc.
• IBM Corporation
• Microsoft Corporation
• NEC Corporation
• Nokia Corporation
• Hewlett Packard Enterprise Company
• AT&T, Inc. (AT&T Intellectual Property)
• Verizon Communications, Inc.
• Avaya Holdings Corporation
• Plantronics, Inc. (Polycom, Inc.)
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06177789/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001