The global unified communications market size is expected to be worth around US$ 350 billion by 2030, according to a new report by Vision Research Reports.
The global unified communications market size was valued at US$ 80.30 billion in 2020 and is anticipated to grow at a CAGR of 22.3% during forecast period 2021 to 2030.
Scope of the Unified Communications Market
|Market Size||USD 350 Billion by 2030|
|Growth Rate||CAGR of 22.3% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Solution, Organization Size, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Cisco Systems Inc.; Avaya, Inc.; Alcatel-Lucent; IBM Corporation; Plantronics Inc.|
The growing adoption of cloud-based unified communication platforms is allowing geographically diverse and dispersed teams to work together and collaborate mutually in real-time via voice and video conferencing. The transition toward the cloud is also allowing enterprises to curb capital spending by adopting an operational cost model that will enable them to pay on the basis of the capacity they require.
Enterprises have transitioned to Unified Communications (UC) solutions to reduce operating expenses, increase revenues, and strengthen customer relationships. UC enhances the decision-making process by integrating various communication tools into a single platform. Thus, unified communications solutions are typically deployed to foster cross-functional activities and yield positive results.
The on-premise segment dominated the unified communications market in 2021 and accounted for over 51% of the global revenue share. However, the sales of the new on-premise unified communications system and licenses are expected to continue to decline over the period owing to the deployment complexity and challenges in managing a modern full stack UC platform.
On the other hand, the hosted UC segment is expected to record the highest CAGR due to lower capital expenditure, operating expenses, and total ownership costs. Enterprises are shifting toward hosted UC solutions for scaling up their storage capacity owing to the simple and predictable operating cost model.
The instant and unified messaging segment dominated the market in 2021, accounting for over 35% revenue share. This can be attributed to an emerging need among businesses to engage in quick communications between peers and get real-time notifications of scenarios in mission-critical situations.
Voice is still the preferred mode of communication among enterprises. However, businesses are also widely demanding video and messaging services to enable more expansive communication. This has increased the demand for audio and video conferencing solutions in enterprises.
Large enterprises accounted for a revenue share of over 80% in 2020. Tech-savvy employees demand an advanced level of communication at work to increase efficiency and productivity. Furthermore, the growing millennial population at workplaces and the requirement of multi-channel are driving the growth of the market.
Many vendors have shifted their focus to Small and Medium-sized Businesses (SMBs), which earlier did not comprise the primary market due to the high cost of on-premise equipment and lack of awareness about UC's potential benefits.
The enterprises sector accounted for the largest revenue share of 50% in 2021. Factors such as increasing business operations and a higher number of cross-functional teams and remote workers have facilitated corporations to deploy unified communication solutions at the enterprise level to ensure seamless communication practices.
The government sector captured a significant market share, accounting for over 26% of the global revenue in 2021. The government sector is widely deploying video conferencing tools for effective communications between remote offices of different departments.
Europe dominated the market for unified communications in 2021 with a revenue share of 36% and is estimated to dominate the market over the forecast period. The increasing UC demand in the region has given numerous vendors the opportunity to establish their businesses
Asia Pacific is expected to exhibit the highest CAGR over the forecast period. The growth can be attributed to the increasing emphasis on collaboration and cost-cutting practices to ensure better resource utilization in the region. Sectors such as Banking & Financial Services (BFS), Business Process Outsourcing (BPO), government, telecom, logistics, and hospitality have turned to unified communications to enable efficient services.
Cisco Systems Inc.
Instant & Unified Messaging
Audio & Video Conferencing
Middle East and Africa
The Unified Communications market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Unified Communications market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Unified Communications market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Unified Communications market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Unified Communications market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Unified Communications capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Unified Communications by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Unified Communications market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Unified Communications market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Unified Communications market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Unified Communications industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Unified Communications market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Unified Communications market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Unified Communications market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Unified Communications market. These factors have benefited the growth of the global market for Unified Communications. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Unified Communications. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Unified Communications are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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