Dublin, Aug. 20, 2021 (GLOBE NEWSWIRE) -- The "Unified Communications and Collaboration - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Unified Communications and Collaboration Market to Reach $52.9 Billion by 2027
Amid the COVID-19 crisis, the global market for Unified Communications and Collaboration estimated at US$33.5 Billion in the year 2020, is projected to reach a revised size of US$52.9 Billion by 2027, growing at a CAGR of 6.7% over the analysis period 2020-2027.
Telephony, one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach US$16.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Collaboration segment is readjusted to a revised 7.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $9.1 Billion, While China is Forecast to Grow at 10.2% CAGR
The Unified Communications and Collaboration market in the U.S. is estimated at US$9.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.4 Billion by the year 2027 trailing a CAGR of 10.1% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Unified Messaging Segment to Record 6.2% CAGR
In the global Unified Messaging segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.3 Billion in the year 2020 will reach a projected size of US$7.7 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$7.2 Billion by the year 2027, while Latin America will expand at a 7.4% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Availability of Diverse Communication & Collaboration Channels Heightens the Need for Unification
- Recent Market Activity
- From a Niche Solution to a Multi-Billion Dollar Opportunity, UCC Evolves into a Market Force to Reckon With
- Market Outlook
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 254 Featured)
- 8x8, Inc. (USA)
- Alcatel-Lucent Enterprise (France)
- Applied Voice & Speech Technologies, Inc. (USA)
- Avaya, Inc. (USA)
- Blue Jeans Network (USA)
- Broadsoft, Inc. (USA)
- Cisco Systems, Inc. (USA)
- FuzeBox, Inc. (USA)
- Genesys (USA)
- International Business Machines Corporation (IBM) (USA)
- Microsoft Corporation (USA)
- Mitel Networks Corporation (Canada)
- NEC Corporation of America (USA)
- PanTerra Networks, Inc. (USA)
- Polycom (USA)
- Premiere Global Services, Inc. (PGi) (USA)
- RingCentral, Inc. (USA)
- Unify (Germany)
- West Corporation (USA)
3. MARKET TRENDS & DRIVERS
- Trends Impacting UCC Market
- Increased Usage of Cloud
- Customized UC Apps Gain Prominence
- Video Content - An Integral Part of Digital Transformation
- UC Vendors Add Team Chat Applications
- Immersive Group Collaboration Platforms
- Growing Focus on Green IT Initiatives Propels Growth of UCC
- Virtualized Unified Communications Grows in Popularity as a Key Efficiency Enhancing Strategy
- Growing Demand for Conferencing & Collaborative Capabilities to Boost Adoption of UCC among Organizations
- Integration of WebRTC into UCC Solutions to Invigorate Market Growth
- The Explosion of Enterprise Mobility Drives the Emergence of Mobile UCC
- Disruptive Emergence of Social Business Drives the Integration of Social Media with UCC
- Consolidation of Large Enterprises
- Gradually Phasing Out Vendor Support for PBX Accelerates the Migration to Pure IP Based UC Platforms
- Despite Growing Competition from Hosted & Hybrid Models, On-Premise Solutions Continue to Lead Revenue Share
- Cloud Based Unified Communication & Collaboration Services Gain Prominence
- Rising Preference for Hosted IP Telephony Services Over Premise-based Infrastructure - A Case in Point
- Hybrid Model to Gain Robust Adoption in Coming Years
- Mushrooming SMBs Spur Adoption of UCC
- Developing Markets to Witness Strong Growth
- Innovations in the UC Market
- Tracing UCC Adoption Patterns in Key End-Use Industries
- Banking, Finance & Insurance (BFSI)
- Healthcare Industry
- Retail Industry
- Key Challenges to Growth
- Security Issue
- Cost of Ownership Still a Concern
- Low Demand for PBX based Systems
- Complex Integration & Demand for Skilled Resources
- High-Bandwidth Requirements & Network Issues
- Interoperability Issue Burns Bright
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- United States
- Canada
- Japan
- China
- Europe
- France
- Germany
- Italy
- United Kingdom
- Spain
- Russia
- Rest Of Europe
- Asia-Pacific
- Australia
- India
- South Korea
- Rest Of Asia-Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest Of Latin America
- Middle East
- Iran
- Israel
- Saudi Arabia
- United Arab Emirates
- Rest Of Middle East
- Africa
IV. COMPETITION
- Total Companies Profiled: 254
For more information about this report visit https://www.researchandmarkets.com/r/echk3b
