According to a new market report published by Credence Research Inc’s report “Unified Communication Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022,” the Unified Communication market was valued at US$ 31.8 Bn in 2014, and is expected to reach US$ 106.44 Bn by 2022, expanding at a CAGR of 5.8% from 2015 to 2022.
Market Insights
Ever changing business dynamics are forcing enterprises to deploy advanced solutions to strengthen their footholds in competitive environment. Organizations across the world are incorporating geographically distributed network capabilities and other resources instead of starting new subsidiaries. In addition, enterprises are looking to outsource non-core functions that represent a positive outlook for unified communication service providers. In the last decade (2006 – 2015), unified communication technology has been growing rapidly across the world.
The unified communication market observed significant growth and increased demand in the last five years. Organizations have started to appreciate benefits of unified communication solutions and now investing in packaged communication solutions instead of using standalone Instant Messaging (IM), collaboration and mobility solutions. Continuous evolutions in unified communication technologies and rising investment in Internet Protocol (IP) infrastructure are expected to drive this market growth in the near future. The unified communication market is expected to see the double digit growth through the forecast period.
Competitive Insights:
The global unified communication industry comprises large numbers of established players offer their solutions to global clients. These players have better programs for solution developers to extend their platforms with respect to changing business needs. Large and mid size players in the industry are focusing on their customer support services in order to gain competitive advantage in this industry. Vendors are also focusing on development of advanced solutions to support real-time communication. Vendors such as International Business Machines (IBM) Corporation, Alcatel-Lucent S.A., NEC Corporation, Huawei Technologies Co. Ltd. and ShoreTel, Inc are focusing on providing competitive solutions which reduces deployment time and ownership cost for their clients. Microsoft Corporation, Cisco Systems Inc, Avaya Inc and Unify are market leaders in the global unified communication market.3
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Key Trends:
- Unified communication deployments are shifting to the cloud solutions
- Unified communication and collaboration offers integration with social networking and applications
- Shifting demands towards packaged solutions form standalone solutions
- Rising demand for mobility solutions
- Increasing demand for real-time solutions such as instant messaging, IP and voice telephony, call control, data sharing and video conferencing with other types of services such as fax, voice mail, e-mail and SMS
- High degree of market competition
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