Published Date: 2-Nov-2021
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According to a new report Global Unified Communications Market, published by KBV research, The Global Unified Communications Market size is expected to reach $293 billion by 2027, rising at a market growth of 19.6% CAGR during the forecast period.
The hosted UC segment would display the highest growth rate. Factors such as less capital expenditure, operating costs, and complete ownership costs are responsible for the growth of this segment. Companies are moving to host UC solutions with an aim to scale up their storage capacity due to the easy and predictable operating cost model. The hosted solution offers a single UC platform that can provide communication and collaboration solutions across various channels.
The instant and unified messaging segment acquired the largest revenue share of the unified communication market in 2020. This is due to the rising requirement among companies to indulge in rapid communication between peers and obtain real-time notifications of aspects in mission-critical situations. Unified Messaging (UM) is capable of managing different aspects such as regular text messages, voice messages, and fax, all integrated into one platform that can be accessed by users through a telephone or PC.
The North America market dominated the Global Unified Communications Market by Region 2020, growing at a CAGR of 17.9 % during the forecast period. The Europe market is experiencing a CAGR of 18.8% during (2021 - 2027). Additionally, The Asia Pacific market is poised to grow at a CAGR of 21.5% during the forecast period.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, NEC Corporation, Nokia Corporation, Hewlett Packard Enterprise Company, AT&T, Inc. (AT&T Intellectual Property), Verizon Communications, Inc., Avaya Holdings Corporation, and Plantronics, Inc. (Polycom, Inc.).
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