Pune, India., Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to a new report on “Unified Communications Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis– By Type (Telephony, Conferencing, Unified Messaging, and Others), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), Vertical (Academic & Public Institutions, BFSI, Healthcare, IT & Telecom, Manufacturing, Retail & e-Commerce, and Others) and Geography” the market in terms of revenue was estimated to be worth $59.75 billion in 2022 and is poised to reach $196.73 billion by 2030, growing at a CAGR of 16.1% from 2022 to 2030.
The growing demand for remote collaboration is primarily driving the unified communications market. Additionally, there is a tremendous rise in unified communications as a service (UCaaS) across the globe, leading to higher demand for unified communications among both SMEs and large players. Thus, the market demand is anticipated to increase during 2022 to 2030.
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Global Unified Communication Market Scope:
| Report Coverage | Details |
| Market Size Value in | USD 59.75 Billion in 2022 |
| Market Size Value by | USD 196.73 Billion by 2030 |
| Growth rate | CAGR of 16.1% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
| Segments covered | Type, Deployment, Organization Size, Vertical, and Geography. |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends |
Growth of Omni-channel Commerce to Provide Lucrative Opportunities for the Global Unified Communication Market:
Digital transformation utilizes technologies to establish new or modify existing business processes and customer experiences (CX) to meet the ever-changing business ecosystem. Digital transformation has common goals, such as promoting innovation, adding value, and improving efficiency. As companies are increasingly implementing digital transformation strategies to deliver better CXs and compete more effectively, there is a mounting need for services that support such modernization of information technology (IT) within different enterprises. With the hybrid mode of business gaining traction globally, businesses are striving to provide more reliable support for their employees. Prior to the disruptions from the pandemic, employees were primarily office-based and supported by on-premise unified communication platforms. However, post the pandemic, there has been a surge in work-from-anywhere (WFA) trends. To support such distributed workforces, businesses have strongly shifted to unified communications as a service (USaaS). UCaaS allows for remote collaboration, which is a big requirement for such a distributed workforce. Instead of using communication apps, often supported by different vendors, on a standalone basis, UCaaS combines all these services and also integrates applications such as messaging, email, video conferencing, and VoIP. The rising digital transformation has led enterprises to continually migrate their workloads to the cloud for better flexibility and workload portability. It has also supported the strong growth in the adoption of UCaaS. Thus, the growth of a distributed workforce and the requirement for remote collaboration among such workforce is anticipated to offer great opportunities for the unified communications market.
Unified communication refers to the integration of various enterprise communication tools into a single, efficient interface, striving to improve user experience (UX) and productivity. It encompasses the various communication systems and collaboration tools, such as content sharing, personal and team messaging, video, and voicemail for the digital workforce. It may also incorporate control, management and integration of these channels. Unified communication solutions and services can also be amalgamated with IT business applications, networks and systems, and consumer applications and devices in some instances. It aims to support both synchronous and asynchronous communication and simplify the end user’s access to solutions in a device-agnostic manner. A unified communications system effectively merges any differentiations between the communication channels. For instance, a user can choose to access a voicemail message over email or any phone, while the sender's status can be seen through presence information. If the sender is online, a response can be sent instantly through video call or text message.
Alphabet Inc., Cisco Systems, Microsoft Corporation, NEC Corporation, and Zoom Video Communications are key players in the unified communications market. With the strong growth in demand for unified communications, numerous companies have established partnerships to expand their offerings and improve market share. For instance, in July 2023, Tata Tele Business Services (TTBS), one of India’s leading enablers of digital connectivity and cloud solutions for businesses, launched Smartflo Unified Communication as a Service (UCaaS). This voice solution is integrated with Microsoft Teams. The new solution is tailored to work with Direct Routing for Microsoft Teams. It allows users to place public switched telephone network (PSTN) calls to both landline and mobile numbers from their laptop, desktop, or mobile device through the corporate network.
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Global Unified Communication Market: Segmental Overview
The unified communications market is segmented on the basis of type, deployment, organization size, and vertical. Based on type, the unified communications market is segmented into telephony, conferencing, unified messaging, and others. By deployment, the unified communications market is divided into on-premise and cloud. By organization size, the unified communications market is bifurcated into SMEs and large enterprises. Based on vertical, the unified communications market is segregated into academic & public institutions, BFSI, healthcare, IT & telecom, manufacturing, retail & e-commerce, and others.
Global Unified Communication Market: Competitive Landscape
Alphabet Inc., Avaya Inc., Cisco Systems Inc., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation, Plantronics Inc., RingCentral Inc., Telefonaktiebolaget LM Ericsson, and Zoom Video Communications are a few of the key companies operating in the unified communications market. The unified communications market leaders focus on expansion and diversification, new product launches, and acquisition strategies, which allow them to access prevailing business opportunities.
Recent Developments:
- September 2023: Cisco Systems Inc. partnered with cybersecurity company Journey AI, Inc. to streamline the customer experience (CX) and advance security for businesses. The latter’s integrated “Identity” platform was made available to all Webex Contact Centre customers via the Webex App Hub. It can be utilized for authentication, identity proofing, digital disclosures, and secure transactions, leveraged through the sensors on a smartphone.
- June 2023: RingCentral announced plans to offer fully compliant cloud phone services in India after it cleared critical regulatory verifications by the Telecom Regulatory Authority of India (TRAI) and the Department of Telecommunications (DOT). RingCentral had been granted a Unified Licence for providing a UCaaS service by the Indian government initially. Since receipt of the same, the vendor has continuously developed its infrastructure in the country and passed government security inspections to achieve its regulatory verification. The launch is expected to allow multinational organizations to access cloud phone capabilities, empowering smoother communication with various stakeholders and improving RingCentral’s unified communications market share.
- June 2021: Unisys, an IT service firm, acquired Unify Square, a unified communications app security and management company, for US$ 152.5 million. The acquisition was aimed at bolstering Unisys’s product portfolio and improving the company’s unified communications market share.
Go through further research published by The Insight Partners:
Unified Communication as a Service Market - Global Analysis and Forecast to 2030
Unified Communications and Collaboration (UCC) Market - Global Analysis and Forecast to 2030
Communications Platform-as-a-Service (CPaaS) Market - Global Analysis and Forecast to 2030
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