The global unified
communications market size is expected to reach USD 143.49 billion
by 2024, according to a new report by Grand View Research, Inc. The substantial
growth prospects of the unified communications market can be attributed to the
rapid international expansion of organizations and an increasing need for
real-time and efficient communication systems that enhance the
inter-organizational exchange of information.
Favorable government and
institutional initiatives worldwide supporting the introduction of UC deployment
across various industry sectors are expected to positively impact the market
over the forecast period.
Organizations across various industry
verticals are adopting various tools and strategies in order to optimize
processes, decrease operational costs, improve efficiency and increase
productivity. Unified communication solutions enable real-time communications
within as well as outside of the organization thereby enabling the elimination
of delays and speeding up of business processes.
However, high initial costs for such
solutions and interoperability issues are presumed to challenge the industry
growth over the next eight years. In the U.S., ambiguous VoIP related
regulations by the FCC may affect the industry dynamics in the coming years.
Browse full research report on Unified Communications Market: https://www.grandviewresearch.com/industry-analysis/unified-communication-market
Further key findings from the report suggest:
- On-premise UC solutions accounted for nearly 60%
of the overall market share in 2015 owing to the ease of customization and
control they offer. Moreover, such solutions bring in a sense of security
within the organization as critical business infrastructure resides
in-house curtailing on security concerns. However, such systems require
adequate maintenance and well-trained IT staff, thereby adding to their
operational expenses.
- Hosted unified communications systems provide
enhanced flexibility compared to their on-premise counterparts. Such
systems enable streamlined access to company data for the employees at a
reduced infrastructure cost and are a good fit for geographically distributed
organizations. The segment accounted for near 40% of the overall UC market
revenue share in 2015 and is projected to overtake on-premise systems over
the forecast period.
- Enterprise end-use applications dominated the
overall UC system industry in 2015. They accounted for nearly 50% of the
overall market owing to the surge in adoption of such solutions in SMEs
across various industry verticals. Governments from the countries such as
the U.S., Canada, UK, Japan and New Zealand are investing in the adoption
of such solutions across its institutions along with schools, colleges,
and universities. The government end-use segment is expected to witness a
substantial growth growing at a CAGR of nearly 20% over the forecast
period.
- The unified communications market in Asia Pacific
region accounted for over 25% of the overall market share in 2015 and is
expected to witness substantial growth over the next eight years.
Developing economies such India and China from the region are expected to
offer extensive growth avenues for the regional industry growth, owing to
increasing industrialization and modernization of business processes
eventually leading to surge in the adoption of such UC solutions.
- Key market participants include Alcatel-Lucent
S.A, Avaya Inc., Cisco Systems Inc., and Microsoft Corporation. Leading
vendors are emphasizing on simple yet customized business communication
offerings targeting small and medium business organizations. Moreover,
service providers worldwide are offering innovative and dynamic
communications and collaborating tools giving them an advantage over their
competitors.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/communication-services
Grand View Research has segmented the global unified communications
market on the basis of product, application, and region:
Unified Communications Product Outlook (Revenue, USD
Billion, 2013 - 2024)
- On Premise
- Cloud-Based/Hosted
Unified Communications Application Outlook (Revenue,
USD Billion, 2013 - 2024)
- Enterprises
- Education
- Government
- Healthcare
- Others
Unified Communications Regional Outlook (Revenue, USD
Billion, 2013 - 2024)
- North America
- Europe
- Asia Pacific
- South America
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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