Global Unified Communication & Collaboration (UC&C) Market is valued approximately USD 51.60 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 17.7% over the forecast period 2022-2029. Unified communications refer to a broad range of services and technologies that a company requires to efficiently communicate and collaborate. UC&C integrates communication methods including IP Telephony Calling, Instant Messaging, Voice, Web Conferencing, Audio Conferencing, and Video Conferencing, among others, to connect virtually seamlessly. The Unified Communication & Collaboration (UC&C) market is expanding because of factors such as emergence of pay-as-you-go model driving the demand over legacy uc solutions and changing workforce dynamics leading to the emergence of new forms of enterprise collaboration.
The rising use of remote work has increased the demand for digital workplace solutions for everyday operations, collaboration, and communication. Additionally, these technologies will be adopted as a part of a digital workplace plan linked to corporate objectives. For instance, according to a 2021 survey by Harvard Business School, 81% of employees no longer desire to work in an office setting on a full-time basis, Additionally, the Chinese government revealed its goal for the digital transformation in May 2020 and allocated USD 1.4 trillion to support it. The digitalization strategy encourages China’s local firms to automate using cutting-edge technologies like IoT, 5G, AI, cloud computing, and various AI-driven IT applications. The expansion of the unified communication and collaboration market has been fueled by a rise in government investment for digitization and a spike in the adoption of digital platforms by SMEs and large-scale organizations worldwide. In addition, growing demand from SME’s rising technological advancement is creating a lucrative growth to the market. However, the high cost of Unified Communication & Collaboration (UC&C) stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Unified Communication & Collaboration (UC&C) Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key market players, rising demand for adoption of new technologies by various SMEs and more. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as UC&C tool demand has increased due to increased digitalization activities across Asia Pacific.. The region is experiencing a rise in cloud adoption due to the rising popularity of disruptive technologies like artificial intelligence, augmented reality, and the Internet of Things (IoT). As a result, the market expansion in the region will be aided by cloud-based UC&C.
Major market player included in this report are:
Microsoft Corporation
IBM Corporation
Cisco Systems, Inc.
Zoom Video Communications, Inc.
8×8, Inc.
RingCentral, Inc.
Verizon Communication, Inc.
Avaya, Inc.
Vonage Holdings Corp.
Google LLC
Recent Developments in the Market:
Ø In February 2023, Zoho Corporation introduced Trident, a UC&C platform. In order to improve communication capacities, it has merged the Zoho Meeting and Zoho Cliq apps.
Ø In June 2022, Zoom announced the launch of Zoom Whiteboard, a cutting-edge digital canvas that provides a centralised approach to communication and collaboration throughout its platform. The hybrid workforce can take advantage of Zoom Whiteboard’s platform-level capabilities, including Zoom Events, unified communications, Zoom Contact Centre, Zoom Developer Platform, and Zoom IQ for Sales.
Global Unified Communication & Collaboration (UC&C) Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Deployment, Organization Size, Industry, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Organization Size offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Telephony
Conferencing
Unified Messaging
Others
By Deployment:
Hosted
Cloud
By Organization Size:
Small & Medium Size Enterprise
Large Enterprise
By Industry:
IT & Telecom
BFSI
Healthcare
Retail
Manufacturing
Education
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World