Unified Communications Market Size Worth US$ 237.74 Billion by 2027, Globally, Growth Rate (CAGR) of 17.50%

The global unified communications market size reached US$ 89.37 Billion in 2021. By 2027, it will reach US$ 237.74 Billion, growing at a CAGR of 17.50%

SHERIDAN, WYOMING, USA, February 27, 2023 /EINPresswire.com/ -- The latest research study “Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global unified communications market size reached US$ 89.37 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 237.74 Billion by 2027, exhibiting a growth rate (CAGR) of 17.50% during 2022-2027.

Unified communication (UC) is a system that offers and combines several corporation communication channels, including personal, voice, video, and team messaging, voicemail, and content sharing, to enhance business operations and human communications. It minimizes latency, eliminates media and device dependencies, and improves workflow regulation. In addition, UC offers various benefits, such as improved tool and application efficiency, better prioritization of information, and increased revenue from business processes. It also provides better productivity, streamlines IT services, reduces costs, and enhances cyber security and customer experience through UC-as-a-Service (UCaaS). Owing to these benefits, unified communications are widely adopted in manufacturing, aerospace and defense, energy and utilities, healthcare, and telecommunication industries.

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Unified Communications Market Trends and Drivers:

The market is primarily driven by the expanding information and technology (IT) sector and the adoption of enterprise business operations to improve the overall organizational performance of an enterprise. In addition, the several benefits offered by UC, such as allowing precise and instant communication between employees, promoting team collaborations, providing a highly contextualized mobile service, and increasing the productivity of remote workers, are contributing to the market growth.

Moreover, the integration of artificial intelligence (AI) in UC to automate tasks, deliver supporting information, and analyze conversations, represents another major growth-inducing factor. Along with this, the growing popularity of mobile phones, hybrid work culture, and the surging trend of bringing your own device (BYOD) is propelling the market growth.

Furthermore, extensive research and development (R&D) activities and the implementation of government initiatives for promoting the adoption of unified communication solutions for daily operations in various end-use industries are creating a favorable market outlook.

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Global Unified Communications Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Unified Communications Companies :

8x8 Inc., Avaya Holdings Corp., Cisco Systems Inc., GoTo (Citrix Systems Inc.), Huawei Technologies Co. Ltd., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation (AT&T Inc.), Ringcentral Inc., Verizon Communications Inc. and Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson).

The report has segmented the market on the basis of component, product, organization size and end user.

Breakup by Component:
• Solution
o Instant and Unified Messaging
o Audio and Video Conferencing
o IP Telephony
o Others
• Services
o Professional Services
o Managed Services

Breakup by Product:
• On-premises
• Hosted

Breakup by Organization Size:
• Small and Medium-sized Enterprises
• Large Enterprises

Breakup by End User:
• Enterprises
• Education
• Government
• Healthcare
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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