Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The "Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global unified communications market size reached US$ 107 Billion in 2022. Looking forward, the market is forecast to reach US$ 276 Billion by 2028, exhibiting a growth rate (CAGR) of 17% during 2023-2028. The growing demand for customer communication channels, the increasing number of collaborations, and the emergence of remote working represent some of the key factors driving the market. 
Unified communications (UC) refer to a concept that refers to the integration of various communication channels, tools, and technologies into a single platform. These platforms provide users with a seamless, consistent, and comprehensive communication experience, regardless of their location or device. They aim to improve communication and collaboration among employees, customers, and partners, leading to increased productivity, efficiency, and innovation. Additionally, the essential components of a typical UC solution include voice, video, messaging, presence, and collaboration tools.
Voice communication is usually provided through voice over IP (VoIP) technology, which enables voice calls to be transmitted over the internet instead of traditional telephone lines. Video communication, on the other hand, allows users to hold virtual meetings, conferences, and webinars, with features, such as screen sharing, whiteboarding, and document sharing. Moreover, they also provide cost savings by reducing the need for multiple communication tools and services. With a unified platform, businesses can streamline their communication infrastructure, reduce maintenance and support costs, and simplify their billing processes. In addition, they can integrate with other business applications, such as customer relationship management (CRM) systems, to provide a comprehensive and unified view of customer interactions.
Unified Communications Market Trends:
The escalating demand for video conferencing majorly drives the global market. As travel costs rise and remote work becomes more common, video conferencing offers a cost-effective way to connect teams and clients. UC solutions provide seamless integration with video conferencing tools, making it easier for teams to collaborate and connect from anywhere, which is contributing to the market. Along with this, the increasing number of collaborations is significantly supporting the market as organizations are becoming more distributed, with teams working across multiple locations.
Since UC solutions provide a mobile-first approach, enabling users to access all communication channels from any device is considered as a growth-inducing factor. In addition to this, the widespread adoption of cloud services due to their numerous benefits, including scalability, flexibility, and cost-effectiveness, is positively influencing the market. Apart from this, the growing demand for customer communication channels, such as email, phone, chat, and social media to deliver a more personalized and responsive customer experience is also providing a thrust to the demand. Moreover, the rising integration of UC solutions with other technologies, such as artificial intelligence, machine learning, and the Internet of Things (IoT) is creating a positive market outlook.
Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global unified communications market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on component, product, organization size and end user.
Component Insights:
- Solution
- Instant and Unified Messaging
- Audio and Video Conferencing
- IP Telephony
Services
- Professional Services
- Managed Services
Product Insights:
- On-premises
- Hosted
Organization Size Insights:
- Small and Medium-sized Enterprises
- Large Enterprises
End User Insights:
- Enterprises
- Education
- Government
- Healthcare
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global unified communications market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Some of the companies covered include:
- 8x8 Inc.
- Avaya Holdings Corp.
- Cisco Systems Inc.
- GoTo (Citrix Systems Inc.)
- Huawei Technologies Co. Ltd.
- Microsoft Corporation
- Mitel Networks Corporation
- NEC Corporation (AT&T Inc.)
- Ringcentral Inc.
- Verizon Communications Inc.
- Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $107 Billion |
| Forecasted Market Value (USD) by 2028 | $276 Billion |
| Compound Annual Growth Rate | 17.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/pgoz1m
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