Global Unified Communications (UC) Market Size Worth USD 234.1 Billion by 2028 | Unified Communications Industry Expected CAGR 19.9% | Vantage Market Research

WASHINGTON, May 30, 2022 (GLOBE NEWSWIRE) -- In recent years, enterprises have transitioned to Unified Communications (UC) solutions to reduce operating expenses, increase revenues, and strengthen customer relationships. Unified communications improve the quality of decision-making process by coupling various tools into a single platform. Also increase in technological advancements such as cloud computing, internet of things (IoT) are further adding spotlight for the market to flourish.

The Global Unified Communications Market revenue size stood at a value USD 78.8 Billion in the year 2021. The Global Unified Communications Market size is expected to reach USD 234.1 Billion by the year 2028 and is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 19.9% during the forecast period.

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Market Dynamics:

Driver: Rapid Development in Unified Communication Solution

With the growing economic crisis and increasing market demand, major reforms are currently taking place in the communication sector. The growing demand for mobile workforce joint with the rising trend of Bring Your Device (BYOD) method and hybrid workplace model is expected to generate revenue for the Global Unified Communications Market over the years.

According to stastita, the Unified Communications Market grew by more than 29% in 2020 compared to 2019 and reached a size of 47.2 billion USD in 2020. The Unified Communications Market is set to further grow over the next few years to almost 50 billion USD. Owing to the pandemic in 2020 various organizations had to send their employees to work from home. UC tools help them to stay connected and generate more work efficiency.

Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Unified Communications market is predicted to grow at a CAGR of roughly 19.9% during the forecast period.
• The Unified Communications market was estimated to be worth roughly USD 78.8 Billion in 2021 and is expected to reach USD 234.1 Billion by 2028; based on primary research.
• On the basis of region, Asia Pacific is projected to dominate the worldwide Unified Communications market.
  

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Segmentation of the Global Unified Communications Market:

• Components
  • Types
  • Services
• Types
  • UCaaS
  • IP Telephony
  • Video Conferencing Systems
• Services
  • UC Managed Services
  • Professional Services
• Deployment Mode
  • On-Premises
  • Public Cloud
  • Hybrid Cloud
• Organization Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises (SMEs)
• Vertical
  • BFSI
  • IT and Telecom
  • Retail and Consumer Goods
  • Healthcare
  • Public Sector and Utilities
  • Logistics and Transportation
  • Travel and Hospitality
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Driver: Technology and Digitalization Broden Unified Communication (UC) Domain

The growth of unified communication is a field which is evolving for many years. The technology guarantees an inflow of new, incorporated communication devices that allow key players to acquire several advantages along with collaboration, streamlining commercial enterprise processes, and other communication cost. Key players that specialize in unified communication highlight and simplify their solutions by making them less complex to purchase, deploy, and manage. Increase in focus to use beyond the consumer level is an essential way for growing new solutions and improving the existing ones.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the service and communication industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.

Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

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The report on Unified Communications Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Regional Analysis:

Europe Dominates the Global Unified Communications Market

Europe held the largest market share in 2021. The growing demand in this region has driven various players the chance to form their businesses. The increase in the Unified Communications Market is driven with the growing need for adopting to cloud and mobility technology on global scale. Government projects to promote the infrastructure are adopting to UC solutions in the APAC region. The upcoming trend for UC in APAC has made it financially strong and one of the fastest-developing markets globally. The growing recognition of eLearning and distance schooling modules has brought about the enlargement for the Unified Communications Market to withstand in APAC.

List of Prominent Players in Unified Communications Market:

• Google (US)
• Zoom (US)
• Cisco (US)
• Microsoft (US)
• Avaya (US)
• Fuze (US)
• LogMeIn (US)
• RingCentral (US)
• Verizon (US)
• BT (UK)
• Dialpad (US)
• Orange S.A. (France)
• StarBlue (Ireland)
• Windstream Intellectual Property Services (US)
• Alcatel-Lucent Enterprise (France)
  

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Unified Communications Market Size, Share & Trends Analysis Report by Components (Types, Services), by Types (UCaaS, IP Telephony, Video Conferencing Systems), by Services (UC Managed Services, Professional Services), by Deployment Mode (On-Premises, Public Cloud, Hybrid Cloud), by Organization Size (Large Enterprises, Small and Medium-Sized Enterprises (SMEs)), by Vertical (BFSI, IT and Telecom, Retail and Consumer Goods, Healthcare), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/unified-communications-market-809388

Recent Developments:

In July 2021, Verizon Business released a new Blue Jeans 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 video collaboration on the go.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Unified Communications Market?
• How will the Unified Communications Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Unified Communications Market?
• What is the Unified Communications market drivers and restrictions?   
• What will be the CAGR and size of the Unified Communications Market throughout the forecast period?

This market titled “Unified Communications Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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