The global unified communications market size is expected to reach USD 143.49 billion by 2024, according to a new report by Grand View Research, Inc. The substantial growth prospects of the unified communications market can be attributed to the rapid international expansion of organizations and an increasing need for real-time and efficient communication systems that enhance the inter-organizational exchange of information.
Favorable government and institutional initiatives worldwide supporting the introduction of UC deployment across various industry sectors are expected to positively impact the market over the forecast period.
Organizations across various industry verticals are adopting various tools and strategies in order to optimize processes, decrease operational costs, improve efficiency and increase productivity. Unified communication solutions enable real-time communications within as well as outside of the organization thereby enabling the elimination of delays and speeding up of business processes.
However, high initial costs for such solutions and interoperability issues are presumed to challenge the industry growth over the next eight years. In the U.S., ambiguous VoIP related regulations by the FCC may affect the industry dynamics in the coming years.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/unified-communication-market
Further key findings from the report suggest:
·
On-premise UC solutions accounted for nearly 60%
of the overall market share in 2015 owing to the ease of customization and
control they offer. Moreover, such solutions bring in a sense of security
within the organization as critical business infrastructure resides in-house
curtailing on security concerns. However, such systems require adequate
maintenance and well-trained IT staff, thereby adding to their operational
expenses.
·
Hosted unified communications systems provide
enhanced flexibility compared to their on-premise counterparts. Such systems
enable streamlined access to company data for the employees at a reduced
infrastructure cost and are a good fit for geographically distributed organizations.
The segment accounted for near 40% of the overall UC market revenue share in
2015 and is projected to overtake on-premise systems over the forecast period.
·
Enterprise end-use applications dominated the
overall UC system industry in 2015. They accounted for nearly 50% of the
overall market owing to the surge in adoption of such solutions in SMEs across
various industry verticals. Governments from the countries such as the U.S.,
Canada, UK, Japan and New Zealand are investing in the adoption of such solutions
across its institutions along with schools, colleges, and universities. The
government end-use segment is expected to witness a substantial growth growing
at a CAGR of nearly 20% over the forecast period.
·
The unified communications market in Asia Pacific
region accounted for over 25% of the overall market share in 2015 and is
expected to witness substantial growth over the next eight years. Developing
economies such India and China from the region are expected to offer extensive
growth avenues for the regional industry growth, owing to increasing
industrialization and modernization of business processes eventually leading to
surge in the adoption of such UC solutions.
·
Key market participants include Alcatel-Lucent
S.A, Avaya Inc., Cisco Systems Inc., and Microsoft Corporation. Leading vendors
are emphasizing on simple yet customized business communication offerings
targeting small and medium business organizations. Moreover, service providers
worldwide are offering innovative and dynamic communications and collaborating
tools giving them an advantage over their competitors.
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/communication-services
Grand View Research has segmented the global unified communications market on the basis of product, application, and region:
Unified Communications Product Outlook (Revenue, USD Billion, 2013 - 2024)
·
On Premise
·
Cloud-Based/Hosted
Unified Communications Application Outlook (Revenue, USD Billion,
2013 - 2024)
·
Enterprises
·
Education
·
Government
·
Healthcare
·
Others
Unified Communications Regional Outlook (Revenue, USD Billion, 2013
- 2024)
·
North America
·
Europe
·
Asia Pacific
·
South America
·
MEA
For press release of this report - http://www.grandviewresearch.com/press-release/global-unified-communication
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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