April 21, 2020
According to the research report titled ‘Unified Communications & Collaboration (UCC) Market Size By Platform, By Deployment Model, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global unified communications & collaboration market is forecast to exhibit a substantial growth between 2020 and 2026.
Rapid proliferation of smartphones along with robust investments by telecom players for upgrading communication network infrastructure is likely to drive global unified communications and collaboration market.
UCC (Unified Communications and Collaboration) refers to the combined usage of collaboration and communications solutions. UCC include communication services such as instant messaging, voice, presence, click to dial, videoconferencing and emails, which are often used by users in a single interface.
End to end unified communications solution aids business processes to flow more effectively, primarily in the cases that need escalation to a decision maker or require exceptional handling by a subject matter expert, which in turn is favoring the market outlook.
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The mobile segment held nearly 30% share of the UCC market in 2019 as it has the capacity to offer knowledge sharing effectively across diversified teams. With the help of mobile communication solutions, organizations significantly reduce travel costs. It aids employees to coordinate activities directly with each other while making decisions that are important from work perspective. Effectiveness of mobile communication in increasing productivity from home office will positively impact unified communications & collaboration industry growth.
Based on application spectrum, the market is segmented into healthcare, BFSI, IT & Telecom, retail and public sector. Among these, the retail sector is poised to register a CAGR of more than 10% over 2020-2026, on account of rising adoption of UCC for augmenting retail customer experience.
Considering the reginal outlook, Latin America UCC market is forecast to exhibit a CAGR of 7% over the analysis period on account of rapid adoption of cloud computing. Rapid proliferation of IoT is further impelling the uptake of UCC tools, hence supplementing the business landscape. For instance, Google announced plans to triple its cloud computing workforce across Latin America by 2020, creating new growth opportunities for the regional market.
Prominent players operating in unified communications and collaboration market are Alcatel Lucent Enterprises (Nokia Networks), 8x8 Inc, Avaya Inc., Cisco Systems Inc., BT Group, Genesys (Permira), IBM Corporation, Huawei Technologies Co., Ltd., Microsoft Corporation, NEC Corporation, Mitel Networks Corporation, Nextiva (UnitedWeb), RingCentral Inc., Orange Business Services, Star2Star Communications, Vonage Holdings Corp., Verizon Communications, West Corporation and Unify (Atos SE).
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