The new report by Expert Market Research titled, ‘Global Unified Communications Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global unified communications market, assessing the market based on its segments like types, solutions, organisation sizes, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 24%
The unified communications industry is being driven by the rising demand for the solution-based segment. This can be attributed to the growing requirement for IP telephony and audio and video conferencing in large, medium and small enterprises. Moreover, the penetration of advanced technology such as artificial intelligence, machine learning, cloud-based tools, and others, is further augmenting the market growth. Various organisations are leveraging unified communications to enhance the teamwork and coordination between employees for a better outcome, thereby boosting the market growth. The growing adoption of unified communications by IT and telecom sector to enhance real-time collaboration is also likely to aid the market in the forecast period.
Unified Communications Industry Definition and Major Segments
Unified communications is defined as a complete package of cloud-based messaging tools, which includes phone, chat, online meetings, and screen sharing, among others. It is known for amalgamating various communication processes, including audio/video conferencing, and instant and unified messaging, among others, to enhance the collaboration and teamwork in an enterprise.
By type, the market is divided into:
• Hosted or Cloud-Based
On the basis of solution, the industry can be segmented into:
• Instant and Unified Messaging
• IP Telephony
• Audio and Video Conferencing
The major organisation sizes of unified communications are:
• Large Enterprises
The market, based on end use, is classified into:
The regional markets for unified communications include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Unified Communications Market Trends
The market is being propelled by the growing demand for artificial intelligence-enabled unified communications solutions. As AI-enabled unified communications aids an organisation to intelligently track speakers, intuitively record calls, and understand consumer demand while offering world-class services, its adoption is surging. The growing adoption of video conferencing in the education sector is estimated to further surge the demand for unified communications. Moreover, the increasing demand for unified communications in government and federal bodies for a secured and efficient exchange of information is anticipated to significantly contribute to the market growth. With the rising investments in unified communications and the surging collaborations between the key market players, the market is poised to grow robustly in the coming years.
Key Market Players
The major players in the market are Avaya, Inc., Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, RingCentral, Inc, and 8×8, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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