Unified Communications Market Overview
Unified communications provide numerous benefits to businesses operating in a variety of industry verticals by providing unified real-time access to interaction through the integration of multiple communication platforms. Unified communication service providers have implemented innovative products and technologies that allow easy access and a high level of interoperability to achieve high efficiency and informed decision-making through collective efforts. In addition, there are various forms of unified communication available, including video, telephony, conferencing, mobility, unified messaging, IM and presence, and a contact center.
The global unified communications market size is predicted to show rapid growth in the near future. The rise of globalization has heightened the need for effective real-time communication systems. Hence, new prospects for growth for participants in the unified communications market are likely to be opened up.
The communication system has developed applications throughout various industry verticals such as education, healthcare, BFSI, etc. The growth of the end-user industries is expected to have a favorable impact on the expansion of the global unified communications market. The Unified Communications System is commonly used for seamless work and informed decision-making. Moreover, The COVID-19 pandemic is offering profitable revenue opportunities as organizations across the globe adopt remote working.
Technology facilitates interoperability, lower administrative costs, flexibility, easier access to information, etc., making it possible for rapid adoption in the coming years. Technology advancements and market innovations are estimated to boost the demand for unified communications over the next few years. In addition, governments are encouraging the implementation of the communication system. This, in effect, is expected to expand the global market in the coming years.
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The global unified communications market has been segmented into product type, application, and end-user.
By product type, the global unified communications market has been segmented into on-premise and cloud-based.
By application, the global unified communications market has been segmented into unified messaging, conferencing, video, contact center, telephony, and others
By end-user, the global unified communications market has been segmented into healthcare, education, government, BFSI, IT Telecom, retail, enterprises, and others
By region, the global unified communications market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
In 2018, North America led the global market. The high rate of adoption of advanced technologies in the U.S. is expected to drive the regional market over the forecast period. The presence of several key players and increased popularity of Bring Your Own Device (BYOD) solutions further benefit regional growth.
The Asia Pacific market is projected to show substantial growth due to the popular trend of mobilization among enterprises. Development in the regional market can also be driven by an increasing emphasis on cost reduction and the demand for collaboration in the region. Sectors such as Business Process Outsourcing (BPO), Banking and Financial Services (BFS), Government, Telecoms, Logistics, and Hospitality have moved to unified communications to allow for effective collaboration and communication.
Some of the major unified communications companies are Google LLC, NEC, Aastra, IBM Corporation, Siemens Enterprise Communications, Avaya Inc., Verizon, Star2Star, Asnet, Orange, Mitel, Microsoft Corporation, Hewlett-Packard, RingCentral, NTT, Cisco Systems, Connect Solutions, Unify, Huawei, AtT, and Alcatel-Lucent S.A.
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