The Global Enterprise Voice Communication Equipment Market size is expected to reach $11.4 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.
Effective communication can be a matter of life and death in the healthcare industry. To organize patient care, go through treatment plans, and deal with emergencies, nurses, clinicians, and support, workers must communicate effectively and rapidly. Hence, the healthcare segment registered $554.1 million revenue in the market in 2022. Every time an emergency arises, medical facilities must be ready to manage it. Voice communication equipment facilitates quick reaction coordination among employees, ensuring that the appropriate individuals are informed as soon as possible in urgent situations. Some of the factors impacting the market are growing demand for headsets for streamlined communication, growing need for remote and real-time collaboration tools, and unwillingness to adopt UCC services.
Instead of using several radios, the headsets with built-in hearing protection offer many channels, allowing foremen or plant managers to interact with various teams using a single, less-noisy device. In addition, handsfree operation via built-in headphones makes quick conversation simple and a lot more natural than the conventional communication techniques like two-way radios. Productivity is increased by being able to work while engaging in individual or group discussions. It is predicted that this benefit of simplified communication provided by voice communication equipment will increase their demand, resulting in market expansion. Additionally, utilizing collaboration tools allows for seamless communication between staff members, which enhances their operational effectiveness and productivity and aids in achieving organizational objectives. The rise in demand demonstrates how crucial it is to comprehend the operation of collaborative software. Voice calls are becoming less common compared to other communication methods, including voicemail, chat, and conferencing. Because managed services providers (MSPs) maintain the infrastructure, video conferencing helps businesses to spend less on infrastructure development. These factors collectively are driving up demand for enterprise voice communication equipment, hence bolstering market expansion.
However, employee productivity is severely constrained by the lack of effective communication tools. Employees may misunderstand something or spend more time watching a noisy or poor-quality film. Due to the poor audio and video quality and other interruptions that happen during conferences, many attendees become dissatisfied. In light of this, the organizations would restrict themselves from adopting UCC services, which would ultimately result in hindering the market growth.
By component, the market is fragmented into solution, and services. The solutions segment witnessed the largest revenue share in the market in 2022. Numerous businesses in various sectors are looking for all-encompassing communication solutions that go beyond the conventional hardware-centric approach. The technologies, programs, and services that make up these solutions make voice communication simple and efficient. The rise of the solution sub-segments has aided dominance in demand for cloud-based and software-defined communication systems.
Based on type, the market is segmented into tablets, smartphones, IP phones, soft phones, and others. The smartphone segment projected a prominent revenue share in the market in 2022. The enterprise voice communication equipment market is expanding more quickly owing to the increasing use of consumer electronics devices, such as smartphones. Due to its great portability and use in numerous tasks, such as audio and video calls, texting, social media, email, and web surfing, consumers are adopting smartphones.
By network equipment, the market is classified into router, private branch exchange, switches, and others.The private branch exchange segment registered the maximum revenue share in the market in 2022. A private branch exchange, or PBX, is a business telephone system that allows calls to be transferred between users on local lines whilst allowing everyone to share a finite number of external phone lines. A PBX's main goal is to do away with the requirement that every user has a line to the phone company's central office, contrary to a public switched telephone network.
Based on enterprise size, the market is divided into large enterprises, and small & medium enterprises. The small & medium enterprises segment recorded a remarkable revenue share in the market in 2022. No matter the company's size, effective and clear communication is the foundation. For work coordination, project discussion, and problem-solving, SMEs must communicate with staff members, customers, vendors, and partners. Strong customer relationships are frequently a major focus for SMEs. Enterprise voice communication tools support SMEs in quick customer service, queries, and issue resolution, increasing client satisfaction and loyalty.
Based on industry verticals, the market is bifurcated into BFSI, healthcare, hospitality, retail, transportation & logistics, IT & telecom, and others. In 2022, the IT & telecom segment held the highest revenue share in the market. As businesses keep counting on technology to run their operations, there is an increased demand for voice communication devices that can help. The IT and telecom sectors, which depend on reliable communication technologies to conduct their businesses, are driving this development. Softphones and IP phones are examples of cloud-based voice communication devices that offer more versatility, scalability, and cost-effectiveness than conventional on-premises systems in recent years.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 7.2 Billion |
| Market size forecast in 2030 | USD 11.4 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.1% from 2023 to 2030 |
| Number of Pages | 379 |
| Number of Table | 580 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Type, Network Equipment, Enterprise Size, Industry, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region covered a considerable revenue share in the market in 2022. This is a result of businesses using VoIP services more frequently and consumers buying tablets and smartphones in greater numbers. The market is further witnessing speedy growth due to accelerated adoption of remote working models across regional nations.
Free Valuable Insights: Global Enterprise Voice Communication Equipment Market size to reach USD 11.4 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), 8x8, Inc., ADTRAN, Inc., Speedflow Communications Ltd., MDS Gateways, PanTerra Networks, Siemens AG.
By Component
By Type
By Network Equipment
By Enterprise Size
By Industry
By Geography
This Market size is expected to reach $11.4 billion by 2030.
Growing demand for headsets for streamlined communication are driving the Market in coming years, however, Unwillingness to adopt UCC services restraints the growth of the Market.
Microsoft Corporation, IBM Corporation, Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), 8x8, Inc., ADTRAN, Inc., Speedflow Communications Ltd., MDS Gateways, PanTerra Networks, Siemens AG.
The Switches segment has shown the high growth rate of 6.3% during (2023 - 2030).
The IP Phones segment is leading the Market by Type in 2022 thereby, achieving a market value of $4.1 billion by 2030.
The North America region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.8 billion by 2030.
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