The size of the unified communications market will reach US$385.21 billion by

The size of the unified communications market will reach US5.21 billion by

London, May 03, 2022 (GLOBE NEWSWIRE) — The world unified communications market it was estimated at US$89.58 billion in 2021. Expanding government initiatives and actions for the deployment of unified communications platforms in various industries are attributed to the growth of the global unified communications market. Additionally, the government is working with players and organizations in the global unified communications industry. This collaboration attempts to increase market awareness of unified communications.

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In addition, technological advances and the use of digital platforms across all vertical industries offer new potential for the global unified communications market to thrive. Furthermore, the global unified communications industry is expanding and developing as a result of increasing urbanization and industrialization. On the other hand, growing concerns about data security and privacy are impeding the expansion of the global unified communications market.

regional snapshot

Europe is the largest segment for the unified communications market in terms of region. The UK dominates the unified communications market in the Europe region. The existence of key industry players operating in the unified communications market is driving the growth of the unified communications market in Europe. In addition, both small and large companies are implementing digital communication channels. In the European market, this aspect is increasing the demand for unified communications.

The Asia-Pacific region is the fastest growing region in the unified communications market. The expansion of the unified communications market in Asia-Pacific is being driven by technical advances. Furthermore, concepts such as e-learning and distance education are driving the demand for unified communications in the region.

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Scope of the Report

report attributes Details
Market size in 2021 $89.58 billion
CAGR 18% from 2022 to 2030
largest market Europe
Fastest growing market Pacific Asia
Covered Companies Zoom, Google, Cisco, Microsoft, LogMeln, Fuze, Avaya, RingCentral, Windstream Intellectual Property Services, Alcatel-Lucent Enterprise

Report Highlights

  • On the basis of the product, the local segment has the largest market share in the global unified communications market. Local Unified Communications does not require a high-speed Internet connection. However, compared to other types of unified communications platforms, this one is incredibly expensive.
  • Based on the solution, the instant and unified messaging segment holds the largest market share in the global unified communications market. Instant and unified messaging enables businesses to interact and engage with customers and workers at the speed of light. The expansion of the instant and unified messaging industry is being driven by the rise in smartphone adoption.
  • Depending on the size of the organization, the large enterprise segment has the largest market share in the global unified communications market. Large information technology (IT) companies demand innovative communication platforms. This allows them to work more effectively and efficiently. There are numerous departments in large corporations.
  • Based on end use, the enterprise segment has the largest market share in the global unified communications market. The number of people working from home has increased dramatically. To do this, companies require a high-level communications platform. The deployment of a unified communications platform for large organizations has made it possible.

market dynamics

drivers

Growing internet adoption of things in unified communications

The internet of things is helping to shift unified communications platforms to automated systems. The Internet of Things is mainly used in the health sector, where daily communication is very important. The internet of things also helps to process data effectively and efficiently. As a result, the increasing adoption of the Internet of Things in unified communications is driving the growth of the global unified communications market during the forecast period.

restrictions

Concerns about privacy and data security

The data stored during communications with the help of unified communications is quite confidential in nature. Therefore, large organizations are concerned with using unified communications solutions and platforms for their regular operations. Therefore, data privacy and security concerns are hampering the growth of the global unified communications market.

Opportunities

Growing government initiatives

Governments around the world are making constant efforts to install unified communications platforms in various sectors. Additionally, government agencies have also started adopting unified communications solutions for daily operations. In addition, they are investing heavily in the development of the unified communications market. Market players are also collaborating with the government of developed and developing regions. Therefore, the increasing government initiatives are creating lucrative opportunities for the expansion of the global unified communications market during the forecast period.

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challenges

Lack of favorable government regulations and guidelines

The unified communications market is not regulated with certain government guidelines and regulations. Because of this, data and information are not secure for large, small and medium businesses. Hackers can easily hack data. Therefore, strict government regulations must be imposed for such situations. As a result, the lack of favorable government regulations and guidelines is a major challenge to the expansion of the global unified communications market.

recent developments

  • Tevatel developed the revolutionary cloud telephony technology ‘doocti’ in August 2020 to transform sales support services. The platform improves sales productivity by driving cooperation and flexibility in business processes.
  • In July 2020, Airtel introduced BlueJeans, a video conferencing app in India. Airtel has partnered with Verizon-owned BlueJeans in the US to develop video conferencing software for Indian users.

Market Segmentation

by product

by solution

  • Instant and unified messaging
  • Audio and video conferences
  • IP telephony
  • contact center
  • Mobility
  • Others

By organization size

By end use

  • Companies
  • Education
  • Government
  • Health care
  • Energy and Public Services
  • IT and telecommunications
  • Retail sale
  • BFSI
  • Aerospace and Defense
  • Others

By Geography

  • North America
  • Europe
  • Pacific Asia
  • Latin America
  • Middle East and Africa (MEA)

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