Unified Communication and Collaboration (UC&C) Market Forecasts to 2028 - Global Analysis By Type (Conferencing, Telephony and Other Types), Deployment Type (Public Cloud, On-premise/Hosted and Hybrid Cloud), Organization Size (Large Enterprises and Small

Unified Communication and Collaboration (UC&C) Market Forecasts to 2028 - Global Analysis By Type (Conferencing, Telephony and Other Types), Deployment Type (Public Cloud, On-premise/Hosted and Hybrid Cloud), Organization Size (Large Enterprises and Small & Medium-sized Enterprises (SMEs)), Services (Professional Services and UC Managed Services), End-User (Retail, BFSI and Other End-Users) and Geography

According to Stratistics MRC, the Unified Communication and Collaboration (UC&C) Market is accounted for $77.91 billion in 2022 and is expected to reach $185.94 billion by 2028 growing at a CAGR of 15.6% during the forecast period. Technology that combines communication and collaboration is known as unified communications and collaboration (UCC). T he suppliers for business collaboration and enterprise communications have mostly been distinct, with software companies like Microsoft and IBM dominating the former and telephony and networking firms trying to make up the latter.

According to a Gartner survey conducted in 2020, worldwide IT spending hit USD 3.6 trillion in 2020 and is expected to reach USD 3.8 trillion in 2023 due to the rapid adoption of digital platforms and digitalization.

Market Dynamics:

Driver:

Increasing demand for UCaaS from both large enterprises and SMEs

The Global Unified Communication and Collaboration (UC&C) Market is expected to drive growth during the forecast period due to their small budgets for specialized telecommunication and IT service providers, SMEs are constantly seeking ways to reduce costs and simplify operations. Companies that are growing operations in emerging and frontier markets are the primary factor driving the expansion of UCaaS. To compete with global mega players, even startups and smaller enterprises should maintain a presence in emerging markets. For retaining a global footprint, sophisticated internal communication technologies are becoming more and more essential.

Restraint:

Issues of privacy and security

As enterprises may have significant issues about the security and privacy of the video content shared across platforms, organizations are also concerned about copyright and Digital Rights Management (DRM) because of the risk for misuse, information leaks and data breaches. The highest number of data breach incidents was reported in the public, manufacturing, healthcare, finance, and information industries. Before implementing these solutions, companies need to restructure their methods for using video conferencing services to address these issues.

Opportunity:

Growing adoption of IoT in UC will boost the market

During the forecast period the Global Unified Communication and Collaboration (UC&C) Market is expected to drive growth as real-time communications are utilized in UC to promote effective teamwork. IoT has an impact on advancement of UC. With the assistance of an automated system, IoT can be used to send messages to individuals. These messages are transmitted using data obtained from real time activities. IoT adoption in healthcare application has shown significant growth in popularity. This application uses the Internet of Things (IoT) in a heart monitor gadget to automatically alert the nurse or other attendee when the patient's heart is in a critical condition.

Threat:

Low readiness to move to modern UC

The Global Unified Communication and Collaboration (UC&C) Market is expected to hamper growth during the forecast period due to its simplicity, the traditional UC system is employed by the majority of companies. Large businesses specifically do not want to utilize UCC services because it is challenging for them to differentiate between conventional hosted and managed UCC systems. To utilise the benefits after migrating from traditional PBX to UCC, the complete workforce will need to acquire the functionality more rapidly. As a result, the IT department of a corporation is under pressure, which may impact the timeline.

Covid-19 Impact

During the pandemic, companies and SMEs from across all industry sectors including ICT, telecommunication, healthcare and education, are increasingly engaged in cloud-based applications and services. The COVID-19 obligation for remote work is offering service providers an unrecognised opportunity to emphasize software-based communications as a crucial component of business continuity and display the adaptability of UCaaS and cloud services in terms of capacity adjustments and services delivery (regardless of location).

The telephony segment is expected to be the largest during the forecast period

The telephony segment is expected to have a lucrative growth due to the increasing use of IP phones in real-time business communication. IP phones act as multimedia endpoints to integrate voice capabilities with data and video applications, improving employee satisfaction, corporate relationships, competitive advantage and communication. Additionally, the solutions encourage higher employee innovation and rapid problem-solving. The telephony platform market is also being driven by the platform's improved availability and easy support.

The UC managed services segment is expected to have the highest CAGR during the forecast period

The UC managed services segment is anticipated to witness the highest CAGR during the forecast period as the need for UC managed services has grown due to productivity, efficiency and customer satisfaction because they reduce the burden on IT while ensuring companies continuity and customer communications. The team is an essential component of the UC managed services, which is a fully transparent co-managed relationship. Many companies have benefited from IP telephony due to the range of secure, industry-proven IP solutions recognized as UC managed services.

Region with largest share:

Asia Pacific is expected to account for the largest share of the global Unified Communication and Collaboration (UC&C) market during the forecast period due to the increased demand for robust collaborations and improved decision-making within and across enterprises. The UCC market has grown to meet the different educational requirements throughout APAC nations including Japan, China, Singapore and India owing to the rise in popularity of eLearning and online education modules. With the introduction of smart courses in APAC, distance education and eLearning are growing popularity.

Region with highest CAGR:

Asia-Pacific is projected to have the highest CAGR over the forecast period due to the increasing use of cloud and mobility trends in nations like China, Australia, New Zealand, India and Japan is fueling the market expansion. The use of UCC solutions in the region is also being driven by government initiatives to enhance the digital infrastructure.

Key players in the market

Some of the key players in Unified Communication and Collaboration (UC&C) Market include Zoom Video Communications Inc., GoToConnect, AT&T Inc, Cisco Systems Inc., 8x8 Inc, Microsoft, Verizon Communications Inc., Google, NEC Corporation, Vonage, 3CX Ltd, NTT Commuications, RingCentral Inc., IBM Corporation, Avaya, Inc and Unisys.

Key Developments:

In July 2021, Verizon Business released a new BlueJeans Meetings feature for iPadOS, iOS and Android to support the reality of today's mobile workforce, as well as new device partnerships and applications which is used for unlocking the power of Verizon Mobile Edge Compute for real-time collaboration on the go.

In June 2021, Unisys acquired Unify Square to optimize the collaboration experience using unified communication as a service. The acquisition assisted users in enhancing Unisys’s digital workspace services business to drive revenue growth and improve its probability and cash flow.

Types Covered:
• Conferencing
• Telephony
• Unified Messaging
• Live Streaming
• Contact Centers
• Enterprise Collaboration
• Business UC Solutions
• Customer Interaction Applications

Deployment Types Covered:
• Public Cloud
• On-premise/Hosted
• Hybrid Cloud

Organization Sizes Covered:
• Large Enterprises
• Small & Medium-sized Enterprises (SMEs)

Services Covered:
• Professional Services
• UC Managed Services

End-Users Covered:
• Retail
• BFSI
• IT & Telecom
• Manufacturing
• Government
• Education
• Travel & Hospitality
• Utilities
• Healthcare
• Public Sector
• Logistics
• Transportation
• Consumer Goods
• Media and Entertainment

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements