Unified Communications & Collaboration Market to Hit 9% CAGR to 2024: Profiling Avaya, Mitel, Microsoft, Cisco, NEC, ALE, Huawei, Unify, RingCentral, BT, West
Market Study Report adds 2017-2024 Global Unified Communications & Collaboration market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
Selbyville, DE -- (SBWire) -- 11/27/2018 --Increasing digitalization along with growing acceptance rate of mobile devices have had a considerable impact on unified communications & collaboration (UCC) market share. Merely a few years back, the application of mobile devices was only limited to voice communication, however, with the passage of time, the emergence of innovative technologies has changed the outlook of the traditional communication networks. UCC has combined communication and collaboration technologies, helping companies to minimize service as well as hardware costs associated with enterprise communication systems. The surging acceptance of UCC across several industrial sectors in order to enhance the productivity of employees is slated to boost unified communications & collaboration (UCC) industry size over the years ahead. Pertaining to the rapid evolution in the communication sector, unified communications & collaboration (UCC) market size will be pegged at a valuation of more than USD 57 billion by the end of 2024.
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Several challenges lie on the horizon for unified communications & collaboration market players with regards to data security and interoperability issues associated with existing resources. Companies have also been looking forward to enhancing in-house capabilities of UCC systems to attract more consumers.
The escalating deployment of cloud computing technology across several application sectors such as BFSI, public service, healthcare, and IT & telecommunication will have a positive impact on UCC market trends over the years ahead. By 2024, IT & telecommunication will cover major portion of UCC market share, owing to the product's surging adoption. The growing emergence of start-up companies in the IT sector is also likely to fuel unified communications & collaboration industry share, pertaining to the rise in demand for affordable unified communication (UC) facilities to minimize the spending on upgradation, maintenance, and procurement of IT infrastructure.
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As far as the regional landscape is concerned, North America will account for a major share of unified communications & collaboration market, owing to the availability of a sophisticated cloud and telecom infrastructure across this region. Apart from North America, Asia Pacific will also contribute significantly toward UCC industry size, considering the fact that most of the APAC based organizations mainly in China and Japan are demanding enhanced business communication infrastructure. APAC unified communications & collaboration market will register the highest annual growth rate of more than 13% over 2017-2024.
Speaking about the strategies such as joint ventures and collaboration adopted by well-known participants in UCC market, it would be imperative to state that the adoption of such tactics have had a commendable impact on the business share. The competitive spectrum of UCC industry comprises companies such as Unify, Avaya, and 8x8, that have been making efforts to improve their product portfolio to extend their global reach in UCC market.
Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. UCC Industry Insights
Chapter 4. Competitive Landscape, 2016
Chapter 5. UCC Market, By Platform
Chapter 6. UCC Market, By Deployment Model
Chapter 7. UCC Market, By Application
Chapter 8. UCC Market, By Region
Chapter 9. UCC Market Company Profiles
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