Unified Communications Market To Hit USD 365.2 Billion by 2030 with a CAGR of 21.25% - Report by Market Research Future (MRFR)

·7 min read
Market Research Future
Market Research Future

Rising Adoption of IoT in Unified Communications to Boost Unified Communications Market Growth

New York, US, Aug. 08, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Unified Communications Market Analysis by Product Type, By Application and By End-User (Healthcare, Education, Government, BFSI, Enterprises, others) – Forecast to 2030” valuation is poised to reach USD 365.2 Billion by 2030, registering an 21.25% CAGR throughout the forecast period (2021–2030).

Unified Communications Market Overview

The growing government initiatives will offer robust opportunities for the market over the forecast period. Governments all across the globe are working hard to build unified communications platforms indeed in a variety of industries. Government organizations have also begun implementing unified communications solutions especially for regular operations. Additionally, they are making significant investments to grow the market for unified communications. Additionally, market participants work with governments in both developed and developing nations. Therefore, during the forecast period, expanding government efforts are offering attractive chances for the growth of the worldwide unified communications market.

Unified Communications Market Report Scope:

Report Metric

Details

Market Size by 2030

USD 365.2 Billion

Growth Rate

21.25% CAGR

Base Year

2020

Forecast Period

2021 to 2030

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Drivers 
Rising Adoption of IoT in Unified Communications to Boost Market Growth 
The rising adoption of IoT in unified communications will boost market growth over the forecast period. The transition from unified communications platforms up to automated solutions is being aided by the internet of things. The healthcare industry, where daily communication is crucial, is where internet of things are employed most frequently. The effective and efficient processing of data is also made possible by the internet of things. As a result, in the assessment period, the worldwide unified communications market will rise due to the increasing acceptance of the IoT in unified communications.

Concerns about Data Privacy to act as Market Restraint 
The concerns about data privacy & security may act as a market restraint over the forecast period.

Lack of Favorable Government Guidelines to act as Market Challenge 
The lack of favorable government guidelines and regulations may act as a market challenge over the forecast period.

Unified Communications Market Segments

The global unified communications market is bifurcated based on end user, application, and product type.

By product type, on-premise will lead the market over the forecast period.

By application, unified messaging will dominate the market over the forecast period.

By end user, enterprises will spearhead the market over the forecast period.

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Unified Communications Market Regional Analysis 

North America to Lead Unified Communication Market 
The global market was topped by North America. Over the anticipated term, it is anticipated that the United States' rapid technological innovation will strengthen the regional market. The existence of multiple significant corporations and the rising acceptance of BYOD solutions are both helping emerging economies. The advancements in cloud computing technology and the rising need for connected interfaces are other drivers. In the region, the United States enjoys a market share of more than 50% for unified communications.

APAC to Have Admirable Growth in Unified Communication Market 
Over the forecast period, Asia Pacific is anticipated to have the greatest CAGR. The growth can in fact be ascribed to the emphasis on cost-cutting measures and collaboration that is being placed in the region in order to ensure greater resource utilization. In order to provide effective services, industries like BFS, BPO, government, logistics, telecom, and hospitality have turned to unified communications. As a result, MyGovUC services were launched by the MAMPU, which is completely dedicated to providing unified communications and collaboration services for the public sector. The unified communications market's fastest growing region is Asia-Pacific. Technical developments are driving the growth of unified communications industry in the Asia-Pacific region. A rise in need for unified communications is also being caused by ideas like e-learning and distance learning.

One of the world's digital hotspots is the APAC area. The increasing use of cloud and mobility trends in nations like China, Australia & New Zealand, India, and Japan is what is fueling this market's growth. The use of UCC solutions in the area is also being driven by government initiatives to support the digital infrastructure. The quick use of UCC solutions within APAC has made this one of the world's fastest-growing marketplaces and one of the most lucrative.

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Due to the increasing demand for strong collaborations and improved decision-making both within and between companies, the region is anticipated to become a highly promising market for UCC solutions. The UCC market has grown to satisfy the varied educational requirements across APAC nations like ANZ, Japan, Singapore, China, and India thanks to the rising popularity of eLearning and remote education modules. With the launch of smart courses in APAC, distance learning and eLearning are growing in popularity. Many multinational companies and SMEs are anticipating APAC as a chance for their expansion.

COVID-19 Analysis 
Organizations have stopped operating on-site and are now allowing their staff to work from home due to the ongoing COVID-19 pandemic's high contagiousness and rising number of cases. Due to this, both huge corporations and small and medium-sized businesses are utilizing unified communications technology to guarantee flawless communication amid team members & co-working teams. The paradigm shift in the communication methodology is anticipated as a result of COVID-19's encouragement of businesses like educational institutions, governmental bodies, and healthcare providers to embrace sophisticated corporate communications platforms.

The need for online & video conferencing services in fact has led to a rise in the use of unified communications solutions, creating opportunities for revenue development. As a result, a number of service providers were able to take advantage of fresher opportunities during the shutdown, improving their income generating and market penetration. Zoom Video Communications, Inc. for instance had a twofold increase in revenue between the first quarters of 2020 and 2019, which may be largely attributable to the web conferencing solution's quick uptake. Additionally, in order to enhance COVID-19 response efforts, service providers like Cisco Systems, Inc. have started enabling medical professionals to set up war rooms with the interactive video communication tools. The market is growing as a result of the rise in demand for telehealth, contactless healthcare, & communication services among physicians and patients.

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Unified Communications Market Competitive Analysis

Dominant Key Players on Unified Communications Market Covered are:

  • Google LLC

  • NEC

  • Aastra

  • IBM Corporation

  • Siemens Enterprise Communications

  • Avaya Inc.

  • Verizon

  • Star2Star

  • Asnet

  • Orange

  • Mitel

  • Microsoft Corporation

  • Hewlett-Packard

  • RingCentral

  • NTT

  • Cisco Systems

  • Connect Solutions

  • Unify

  • Huawei

  • At&T

  • Alcatel-Lucent S.A.

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