PUBLISHER: The Business Research Company | PRODUCT CODE: 1532096
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532096
Unified Communication (UC) refers to the integration of various communication tools and services into a single, cohesive system that facilitates seamless and efficient communication and collaboration across an organization. It improves collaboration and productivity by offering real-time communication and presence information, enabling teams to work together more effectively.
The key components of unified communication (UC) include hardware, software, and services. UC hardware comprises the physical devices and equipment that support and enable UC systems. These hardware components are crucial for deploying and operating UC solutions, which unify diverse communication tools and services into an integrated platform. UC is utilized by organizations of various sizes, including small and medium-sized enterprises (SMEs) and large enterprises, across sectors such as education, government, healthcare, and others, to enhance communication and collaboration capabilities.
The unified communication market research report is one of a series of new reports from The Business Research Company that provides unified communication market statistics, including the unified communication industry global market size, regional shares, competitors with unified communication market share, detailed unified communication market segments, market trends, and opportunities, and any further data you may need to thrive in the unified communication industry. These unified communication market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The unified communication (UC) market size has grown rapidly in recent years. It will grow from $67.06 billion in 2023 to $79.06 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. During the historic period, growth can be attributed to several factors, the increasing demand from organizations for greater control and customization of their communication infrastructure, the need for businesses to transform their models to adapt to evolving market trends, the rising adoption of unified communication solutions for improved collaboration, the increasing demand for enterprise mobility solutions enabling remote work capabilities, and the integration of social business platforms into communication systems to enhance collaboration and engagement.
The unified communication (UC) market size is expected to see rapid growth in the next few years. It will grow to $152.99 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. In the forecast period, growth can be attributed to several factors, the increasing pace of digital transformations across industries, rising demand for Unified Communications as a Service (UCaaS) for flexible and scalable communication solutions, increasing adoption of cloud-based UC solutions for cost-efficiency and scalability, growing demand for video conferencing tools to enhance communication and collaboration, and the continued focus on digital transformation initiatives to modernize business processes. Major trends in the forecast period include the adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) to enhance UC capabilities, advancements in real-time and remote collaboration tools for improved productivity and flexibility, increasing demand for mobility solutions and Bring Your Own Device (BYOD) policies for seamless communication across devices, and the ongoing implementation of digital transformation strategies to streamline operations and enhance customer experiences.
The unified communication market is poised for growth due to the increasing digital transformation across industries. Digital transformation involves integrating digital technologies into organizational processes, leading to significant operational changes and improved customer value delivery. This growth in digital transformation stems from the widespread adoption of digital technologies across all business functions, fundamentally altering how organizations operate and serve their customers. Unified Communication (UC) plays a crucial role in driving digital transformation by integrating various communication tools into a unified platform. This integration enhances collaboration, boosts productivity, enables remote work, and streamlines customer interactions through efficient communication channels. For example, in 2021, the New Zealand digital technologies sector contributed around $7 billion to the GDP, showing a robust annual growth rate of 10.4%, as reported by the Ministry of Business, Innovation and Employment, a New Zealand-based government agency. This growth signifies the impact of digital transformation on economies and businesses, driving the unified communication market forward.
Leading companies in the unified communication market are actively developing advanced solutions such as contact center-as-a-service (CCaaS) collaboration platforms to improve customer and employee experiences. A Contact Center-as-a-Service (CCaaS) collaboration platform offers a cloud-based solution that enables businesses to efficiently manage customer interactions and internal communications. For instance, Avaya, a US-based technology company, introduced the Avaya Experience Platform (AXP) in March 2023. AXP is an AI-powered CCaaS collaboration platform that integrates workstream collaboration and unified communications technologies in Australia and New Zealand. AXP enhances productivity for SMEs and mid-market organizations by supporting hybrid work models preferred by over three-quarters of Australian workers. It facilitates seamless communication through chat, messaging, video calls, and file sharing, enabling efficient collaboration pre, during, and post meetings. AXP also leverages AI-powered virtual assistants to provide real-time information and uses skills-based routing to match customers with the most suitable staff, enhancing customer interactions.
In October 2023, Mitel Networks Corporation, a Canada-based telecommunications company, acquired Unify. This acquisition expands Mitel's portfolio with Unify's voice, collaboration, contact center products, devices, endpoints, and IP, offering customers greater choice and flexibility. The combined entity will deliver enhanced value across core verticals such as healthcare, public sector, hospitality, and financial services, leveraging specialized solutions and integration capabilities. Unify, a Germany-based company specializing in integrated communications software and services, brings valuable expertise and solutions to the unified communication market.
Major companies operating in the unified communication market are Microsoft Corporation, Verizon Communications Inc., Comcast Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., International Business Machines Corp., Cisco Systems Inc., Oracle Corporation, HP Development Company L.P., NEC Corporation, Lumen Technologies, Windstream Intellectual Property Services LLC, Zoom Video Communications Inc., Citrix Systems Inc., Avaya LLC, Tata Communications, RingCentral Inc., Genesys, ALE International, Vonage Holdings Corp., Mitel Networks Corp., GoTo Technologies USA Inc., 8x8 Inc., Dialpad Inc.
North America was the largest region in the unified communication (UC) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unified communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the unified communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The unified communication market consists revenues earned by entities by providing services such as voice and video calling, instant messaging, presence information, email and voicemail integration, and conferencing. The market value includes the value of related goods sold by the service provider or included within the service offering. The unified communication market also includes sales of IP phones, headsets, webcams, video conferencing systems, UC servers, and network infrastructure. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Unified Communication Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on unified communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for unified communication ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The unified communication market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.