A recent report published by Infinium Global Research on unified communications and collaboration market provides in-depth analysis of segments and sub-segments in the global as well as regional unified communications and collaboration market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional unified communications and collaboration market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global unified communications and collaboration market. According to the report, the global unified communications and collaboration market is projected to reach upto USD 217 Billion from USD 54.4 Billion at a CAGR of 25.9% over the forecast period of 2021-2027.
Unified Communications and Collaboration (UC&C) is a collection of solutions. Organizations implement UC&C to ensure that nearly all their technology works together, smoothly and securely, for near real-time collaboration. UC&C integrates diverse communication tools, such as Voice, Instant Messaging, Desktop Sharing, IP Telephony Calling, Presence, and Web Conferencing. Many businesses find that UC&C can empower teams to cooperate more nimbly. This can lead to big wins in product development, client and customer satisfaction, operational efficiency, productivity, and the bottom line.
The COVID-19 pandemic changed the way people work and forced organizations to find new ways to stay competitive. At the same time, remote work became more popular out of necessity, spurring on a long-lasting shift to a work-from-anywhere work model. Always a part of doing business, unified communications and collaboration have found new life as organizations turned to their set of communication and collaboration tools to increase workforce productivity. Enterprises embrace UCC, allowing instant access to information, facilitating multimedia collaboration across departments and teams while also reducing operating costs. The growing need to maintain healthy communication among large set employees is driving the use of UCC solutions in large enterprises. The unified communications and collaboration (UC&C) is an integrated suite of applications and services designed to meet the communications needs of small, medium, and large. Perhaps the biggest trend driving the adoption of UC is the rise of the digital workforce. As the workplace innovates faster, UC is the path to better connections and productivity. It further helps enterprises to overcome the inefficiencies and challenges that were previously siloed and fragmented—focusing on making the company more connected, efficient and productive. UC&C simply revolutionizes business communications by offering an all-encompassing, flexible suite of tools to make the business run more smoothly. Furthermore, government adoption of UC technology will provide a significant growth opportunity for the market. Government agencies now empower their teams with the latest in voice and real-time video and information sharing technologies. This trend is helping governments improve response times, and create better outcomes for employees and citizens alike. Cisco Unified Communications Manager (UCM) Cloud for Government unites built-in U.S. government-level security to give agencies the power to collaborate securely with anyone, anywhere. There are considerable advantages when government organizations implement UC technology, including the ability to reduce operating costs. This is considerably important for government agencies that deal with steadily shrinking IT budgets. However, privacy and security related concern is affecting the growth of the market. Moreover, the growing adoption of IoT in UC will significantly drive the market growth.
North America holds the largest market shares in the Unified Communications and Collaboration (UC&C) market. The presence of most key vendors of UCC solutions has contributed to the market growth in North America. The market players such as Microsoft, Cisco, Google, Fuze, LogMeIn along with several start-ups, in the region are offering UCC solutions. The growing requirement of companies to transform their traditional business operations into digital and the rapid adoption of cloud technology have led to the increased adoption of UCC in North America. Furthermore, high adoption of mobile workforce is driving the growth of the market in North America. The US and Canada, are expected to hold larger market shares among other countries in the region.
The report on global unified communications and collaboration market covers segments such as product, solution, organization size, and end-use. On the basis of product, the sub-markets include hosted, and on-premise. On the basis of solution, the sub-markets include instant & unified messaging, audio & video conferencing, IP telephony, and others. On the basis of organization size, the sub-markets include SME, and large enterprises. On the basis of end-use, the sub-markets include enterprises, education, government, healthcare, and others.
The report provides profiles of the companies in the market such as Microsoft Inc, Cisco, Google, Zoom, Fuze, Mitel Networks Corp, LogMeIn, RingCentral, Verizon, and Others.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of unified communications and collaboration market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.