Unified Communication Market to Reach US$ 106 Bn by
2022
According to a
new market report published by Credence Research Inc “Unified Communication
Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015
- 2022,” the unified communication market is expected reach US$ 106.4 Bn by
2022, with the rising demand for unified communication as a service
(UCaaS).
Enterprises
across the world are focusing to improve business communication process by
upgrading existing messaging and telephony infrastructure and also by adding
new applications supporting mobility. Rising market competition and unfavorable
economic conditions are forcing organizations to reduce traveling budgets which
is driving the demand for web conference and collaboration applications.
Furthermore, rising adoption of video conferencing applications particularly in
Asia Pacific market is a prominent factor for the growth of unified
communication (UC) market.
In 2014,
on-premises unified communication (UC) solutions accounted for the largest
revenue share of 57.8% in the overall UC communication market. On-premises
unified communication solutions are expected to see a steady growth through the
forecast period as the organization across the world are investing significant
amount in IP infrastructure to support real-time unified communication.
Cloud/hosted solutions are expected to see the fastest growth through the
forecast period due to rising demand for conferencing solutions across the
world.
Banking,
financial services and insurance (BFSI) represents the largest end use sector
for unified communication solutions. This segment accounted for the 21.0%
revenue share in the overall UC market by end-use verticals. IT and telecom
service provider are deploring UC solutions to provide efficient services to
their clients. This segment is expected to see the fastest growth through the
forecast period 2015 – 2022. Manufacturing industries are investing in advanced
UC solutions and integrating UC applications with their existing communication
infrastructure. UC solutions used in government and utilities sectors are also
expected to see a significant growth with rising importance to provide
efficient services to public.
Majority of
revenue for unified communication systems is generated trough large size
enterprises. Large size enterprises use highly flexible solutions which
supports higher level of integration, legacy systems and modular solutions.
Small and medium size enterprises are increasingly investing in UC solutions
that are simple to use and maintain. Cloud based UC solutions are expected gain
more popularity in SMEs due to their low deployment costs.
Enterprise
telephony is the largest application category and accounted for the 42.0% of
revenue share in the total UC market by application. Packaged mobility
solutions are expected to see the fastest growth through the forecast period
with rising use of mobile devices such as smartphones, laptops and others in
business applications. Instant messaging, web conferencing and video
collaboration solutions are also expected to see the prominent growth in the
near future.
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