New York, NY -- (SBWIRE) -- 12/09/2016 -- The global unified communications market has been witnessing substantial growth in the last few years, thanks to the rising penetration of mobile devices worldwide. Additionally, the emergence of innovative trends such as bring your own device (BYOD) among organizations is projected to boost the demand for unified communication solutions in the coming years. The global expansion of diverse multinational organizations has resulted in a growing need for communication with geographically dispersed employees and customers.

The global market for unified communications has been segmented on the basis of product type, end use, and geography. Key product types include cloud-based or hosted and on-premise. On the basis of end use, the global unified communications market has been classified into enterprises, healthcare, education, and government. Geographically, the global market has been divided into Europe, North America, Asia Pacific, and Rest of the World.

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The research study has made use of several analytical tools to determine the key growth prospects and lucrative opportunities in the global unified communications market. The study identifies the promising product and geographical segments in the market and throws light on the latest trends. The growth drivers and challenges influencing the growth of the global unified communications market have been discussed in the scope of the research report. In addition, a detailed vendor analysis, focusing on the company profiles, financial status, product portfolio, and business strategies has been included in the study.

Overview of the Global Unified Communications Market

As per the study, the global market is expected to reach a value of US$61.9 bn by the end of 2018 from US$22.8 bn in 2011. The market is estimated to exhibit a strong 15.70% CAGR between 2012 and 2018. The rising mobile workforce and increasing enterprise mobility are the primary factors expected to augment the growth of the global unified communications market in the forecast period. Moreover, technological advancements and rising investments by leading players are generating potential opportunities in the market, especially in the emerging and untapped economies.

Furthermore, the rising popularity of video as a source of communication and desktop-enabled videos are accelerating the growth of the global unified communications market. On the flip side, lack of interoperability among multi-vendor unified communication platforms and requirement of high initial cost are estimated to restrict the growth of the global market in the coming years. The leading companies in the market are promoting unified communications in order to enhance employee efficiency and reduce cost while reducing their carbon footprint by limiting the need to travel.

At present, North America is the dominant region and is expected to witness significant growth in the next few years. The Europe, the Middle East, and Africa (EMEA) market for unified communications, on the other hand is projected to outpace the market's growth in North America. This region is estimated to register a remarkable 21.0% CAGR between 2012 and 2018.

Companies Mentioned in the Research Report

Key players operating in the unified communications market across the globe are Avaya Inc., Microsoft Corporation, Polycom Inc., IBM Corporation, NEC Corporation, Cisco Systems Inc., Siemens Enterprise Communications GmbH & Co. Kg, and Alcatel-Lucent. The rising demand for unified communication as a service solution is expected to attract the participation of several players, strengthening the competition of the market in the coming years.