Fort Collins, Colorado, Sept. 19, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Unified Communications Market Size, Growth, Share, Statistics Report, By Product (Hosted, On-Premise), By Solution (Instant & Unified Messaging, Audio & Video Conferencing, IP Telephony, Others), By Organizations (SMEs, Large Enterprises), By Application, By Region, and Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, The unified communications (UC) market size was valued at USD 115.7 Billion in 2022 and is expected to reach USD 583.8 Billion by 2032 with a CAGR of 17.7%. The increase in remote working and the wider adoption of BYOD (Bring Your Own Device) policies has led to market growth. The accessibility of using communication tools from multiple devices and from any location has contributed to the growth of the market.
Recently 8X8 Inc and Genesys, a leading unified communication platform, have integrated the product integration of 8X8 with Genesys cloud cx, which allows the customers to collaborate with the subject matter experts to resolve customer queries quickly. The UC allows the teams to engage more actively and improve the communication gap.
With Unified Communication, the security of the organization system gets more secure. As all the applications are interlinked to each other, the security updates and the latest firmware can be released in one go, saving a huge amount of time and resources. Also, the older devices facing issues can be resolved instantly.
Implementing AI with UC can help create newer opportunities in the market. For instance, it can assist in collecting valuable insights from the transcribed conversations and sorting out the relevant ones.
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Report Snapshot:
| Report Title | Unified Communications Market |
| Market Size in 2022 | USD 115.7 Billion |
| Market Size by 2032 | USD 583.8 Billion |
| CAGR from 2023 to 2032 | 17.7% |
| Largest Market | Europe |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Product | Hosted, On-Premise |
| By Solution | Instant & Unified Messaging, Audio & Video Conferencing, IP Telephony, Others |
| By Organization | SMEs, Large Enterprises |
| By Application | Enterprises, Education, Healthcare, Government, Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Cisco, Unify (Atos SE), Tata Communications, IBM, Microsoft, Poly (Platonics Inc.), NEC Corporation, Alcatel-Lucent Enterprise, Zoom, 8 X 8 Inc Ltd., Verizon. |
Segmentation Overview
The unified communications market has been segmented into product, solution, organization, application, and region. Based on the product, the on-premise segment holds the majority of market share. As the old and contemporary systems find it difficult to deploy the full-stack UC platforms. The hosted segment is the fastest-growing segment in the forecast period. The low ownership, simple operations, and installation costs are the major reasons for its adoption.
Based on the solution, the market is segmented into instant & unified messaging, audio and video conferencing, IP telephony, and others. Instant and unified messaging dominate the market as companies globally focus on interacting on a single platform that encompasses all the features in one place. The audio & video segment holds a significant share in the unified communications market reason being the easy integration and usability. Post-COVID, organizations have relied on video conferencing rather than in-person meetings.
Based on organizations, the market is segmented into SMEs and large enterprises. Large enterprises have multiple departments, and to communicate efficiently the UC comes in very handy. Moreover, these organizations have their offices at multiple locations and varying timezone.
Small and medium-sized enterprises show significant growth. The implementation of the UC reduce the additional expenses incurred in their operations. Moreover, the cloud-based services are increasingly adopted in SMEs.
Based on the application, the market segmentation comprises enterprises, education, government, healthcare, and others. The enterprise sector held the largest market share. The increase in the adoption of IT in enterprise business operations contributes to the growth of the segment. Moreover, it is beneficial for remote workers as they can connect with the cross-functional team in one go.
The government sector shows significant growth during the forecast period. With the governments gradually opting the digital solutions across their operations due to rising demand for enhanced communications from the audiences/citizens, it has contributed towards the market's growth and growth.
European region accounts for the highest market share in unified communication. The increased use of BYOD policy in the region has led to the wider adoption of unified communications. This has led to multiple vendors offering UC services.
The market in Asia Pacific is growing at a significant pace. With ongoing investments and a large consumer base in the region is expected to be the key factor driving the market growth. Moreover, the increasing digitization across the region contributes to the market growth.
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Key Developments in the Industry:
- Voss has released a new software tool, Voss Cost Analytics, which helps the companies control their cost in UC and the collaboration networks along with utilizing the resources more effectively.
- ChatGPT has launched its enterprise version designed specifically for business. The version offers enterprise-grade security and enhanced privacy.
- Custodia has introduced the latest CC1 messaging service, which captures and archives the employee conversations that happen on their own devices. The software can store communication data from MS Teams, SMS, and even WhatsApp.
Unified Communications Market Report Highlights:
- The unified communication market is projected to attain a CAGR of 17.7% by 2032.
- On-premise segments dominate the market based on the product. The hosted segment is expected to witness steady growth.
- Based on the solution, instant & unified messaging dominates the market. The audio and video segment holds a significant market share.
- Based on the organization, large organizations dominate the market. The need for the UC is due to its massive size. The SMEs grow at a significant pace in the forecast period.
- Based on applications, the enterprise sector dominates the market. The government sector shows significant growth in the forecast period.
- Europe is a dominant region for the unified communications market, the increased adoption of BYOD policies and the implementation of different UC platforms has contributed to the growth of the region.
- Asia Pacific regional market growth is projected at a steady pace. The presence of a large consumer base and the adoption of UC in sectors such as BFSI, BPO, logistics, and others have led to the growth.
- The prominent players in the Unified Communication market report include Cisco, Unify (Atos SE), Tata Communications, IBM, Microsoft, Poly (Platonics Inc.), NEC Corporation, Alcatel-Lucent Enterprise, Zoom, 8 X 8 Inc Ltd., and Verizon.
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Unified Communications Market Report Segmentation:
Unified Communications Market, By Product (2023-2032)
- Hosted
- On-Premise
Unified Communications Market, By Solution (2023-2032)
- Instant & Unified Messaging
- Audio & Video Conferencing
- IP Telephony
- Others
Unified Communications Market, By Organization (2023-2032)
- SMEs
- Large Enterprises
Unified Communications Market, By Application (2023-2032)
- Enterprises
- Education
- Government
- Healthcare
- Others
Unified Communications Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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