Unified Communications Market Is Expected To Expand At A CAGR Of 20.5% By 2028

San Francisco, Calif., USA, June 23, 2022 — /EPR Network/ —

Unified Communications Industry Overview

The global unified communications market size is expected to reach USD 344.84 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 20.5% from 2021 to 2028. Changing workforce dynamics, growing prominence for Unified Communication as a Service (UCaaS), and virtualization of data and devices are factors that are expected to increase the adoption of UC solutions in enterprises.

Unified Communications Market Segmentation

Grand View Research has segmented the global unified communications market on the basis of product, solution, organization size, end-use, region:

Based on the Product Insights, the market is segmented into Hosted and On-premise.

  • The on-premise segment dominated the unified communications market in 2020 and accounted for over 50% of the global revenue share.
  • The hosted UC segment is expected to record the highest CAGR due to lower capital expenditure, operating expenses, and total ownership costs.

Based on the Solution Insights, the market is segmented into Instant & Unified Messaging, Audio & Video Conferencing, IP Telephony and Others.

  • The instant and unified messaging segment dominated the market in 2020, accounting for over 34% revenue share.
  • This can be attributed to an emerging need among businesses to engage in quick communications between peers and get real-time notifications of scenarios in mission-critical situations.
  • Voice is still the preferred mode of communication among enterprises. However, businesses are also widely demanding video and messaging services to enable more expansive communication. This has increased the demand for audio and video conferencing solutions in enterprises.

Based on the Organization Size Insights, the market is segmented into SMEs and Large Enterprises.

  • Large enterprises accounted for a revenue share of over 79% in 2020. Tech-savvy employees demand an advanced level of communication at work to increase efficiency and productivity.
  • Many vendors have shifted their focus to Small and Medium-sized Businesses (SMBs), which earlier did not comprise the primary market due to the high cost of on-premise equipment and lack of awareness about UC’s potential benefits.

Based on the End-use Insights, the market is segmented into Enterprises, Education, Government, Healthcare and Others.

  • The enterprises sector accounted for the largest revenue share of 49.23% in 2020.
  • Factors such as increasing business operations and a higher number of cross-functional teams and remote workers have facilitated corporations to deploy unified communication solutions at the enterprise level to ensure seamless communication practices.
  • The government sector captured a significant market share, accounting for over 25% of the global revenue in 2020.
  • The government sector is widely deploying video conferencing tools for effective communications between remote offices of different departments.

Unified Communications Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • South America
  • MEA

Key Companies Profile & Market Share Insights

The market has witnessed several product launches and merger & acquisition activities in the last few years.

Some prominent players in the Unified Communications market include

  • Cisco Systems Inc.
  • Avaya, Inc.
  • Alcatel-Lucent
  • IBM Corporation
  • Plantronics Inc.

Order a free sample PDF of the Unified Communications Market Intelligence Study, published by Grand View Research.

Browse More: https://www.grandviewresearch.com/research-insights/metaverse-market-snapshot

Matched content

Editor’s pick

Express Press Release Distribution