Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global unified communications market size reached US$ 107 Billion in 2022. Looking forward, IMARC Group expects the market 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:
IMARC Group 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. Our 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
Others
Services
Professional Services
Managed Services

The report has provided a detailed breakup and analysis of the unified communications market based on the component. This includes solution (instant and unified messaging, audio and video conferencing, IP telephony, and others), and services (professional services and managed services). According to the report, solution (instant and unified messaging) represented the largest segment.

Product Insights:

On-premises
Hosted

A detailed breakup and analysis of the unified communications market based on the product has also been provided in the report. This includes on-premises and hosted. According to the report, on-premises accounted for the largest market.

Organization Size Insights:

Small and Medium-sized Enterprises
Large Enterprises

The report has provided a detailed breakup and analysis of the unified communications market based on the organization size. This includes small and medium-sized enterprises, and large enterprises. According to the report, the large enterprises accounted for the largest market.

End User Insights:

Enterprises
Education
Government
Healthcare
Others

A detailed breakup and analysis of the unified communications market based on the end user has also been provided in the report. This includes enterprises, education, government, healthcare, and others.

Regional Insights:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for unified communications. Some of the factors driving North America unified communications market included the rising remote workforce, continual technological advancements, and increasing business automation.

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. and Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson). Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global unified communications market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global unified communications market?
What is the impact of each driver, restraint, and opportunity on the global unified communications market?
What are the key regional markets?
Which countries represent the most attractive unified communications market?
What is the breakup of the market based on the component?
Which is the most attractive component in the unified communications market?
What is the breakup of the market based on the product?
Which is the most attractive product in the unified communications market?
What is the breakup of the market based on the organization size?
Which is the most attractive organization size in the unified communications market?
What is the breakup of the market based on the end user?
Which is the most attractive end user in the unified communications market?
What is the competitive structure of the global unified communications market?
Who are the key players/companies in the global unified communications market?