Unified communication (UC) is an umbrella term for the integration of multiple enterprise communication tools such as voice calling, video calling, video conferencing, instant messaging, and content sharing into a single streamlined interface to improve user experience and productivity. Unified communication technology supports the ability to switch seamlessly from one mode of communication to another within a single session, whether on a desktop computer, laptop, tablet, or smartphone. Many unified communication systems also integrate with third-party business applications, such as project management software, to enable the centralization of information and resources as well as more efficient workflows. Unified communication technologies facilitate the integration of software that supports both real-time communication (RTC), such as voice over IP (VoIP), and asynchronous communication such as persistent chat so the end-user has easy, immediate access to all relevant tools in the consistent environment from any physical location and digital device. Many unified communications offer messaging-centric workflows and cooperative features such as real-time file sharing and annotating, these next-level UC systems are referred to as unified communication and collaboration. A unified communication environment is typically supported by one or more back-end management systems, sometimes referred to as unified communication platforms that facilitate integration among services, as well as the front-end clients that provide access. Cloud-based unified communication services also called unified communication as a service (UCaaS) are gaining traction.
The increasing popularity of unified communications is part of a large digital transformation and cloud migration underway across today’s enterprises. The COVID-19 pandemic greatly accelerated this shift, with many organizations relying heavily on unified communication collaboration technologies to enable remote work. The unified communication market is going through a significant transformation. These different factors make cloud-based unified communication technology attractive and necessary.
Global Unified Communication Market – Competitive Landscape
On September 21, 2023, Cisco and Splunk merged with Cisco and announced a USD 28 billion acquisition to expand AI in the unified communication environment. On July 28, 2023, Theta Lake Inc. was recognized as a leader in modern compliance and security solutions for unified communication. On March 7, 2023, Viirtue.com a wholesale voice and unified communication as a service (UCaaS) provider announced that they raised USD 10.8 million in series funding from Ballasts Point Ventures Iv.
Some of the Key Players in the Global Unified Communication Market Include –
Global Unified Communication Market – Growth Drivers
Worldwide revenues in the global unified communication market grew 7.9 % over the year and 2.1% sequentially to USD 15.2 billion in the fourth quarter of 2022, according to International Data Corporation (IDC). The COVID-19 pandemic dramatically hastened this shift by forcing an unprecedented percentage to work remotely. According to a metrology survey, the percentage of organization of organizations using UCaaS increased by 79% between 2019 and 2020 and continuously growing with more than 60% of organizations speeding up their adoption plans. Unified communication can streamline the communication process, reduce travel costs, and enhance efficiency, it making an attractive option for cost-conscious businesses. Ongoing technological advancements such as 5G and IoT create new opportunities for unified communication. As businesses expand globally the need for effective cross-border communication and collaboration become more critical spurring the adoption of unified communication solution. The automation and integration of AI in unified communication can enhance productivity which drives the global unified communication market. Unified communication integrated with cloud services offers flexibility, and cost-effectiveness and further boosts the global unified communication market.
Global Unified Communication Market – Restraints
Heightened awareness of cybersecurity risks has led to an increased scrutiny of unified communication systems. Unified communication solutions with existing IT systems and applications can be more complex and costlier which can act as a barrier to adoption for some organizations. Economic uncertainties such as COVID-19 and the Russia-Ukraine war have caused to businesses delay or scale back their unified communication investment due to budget constraints. According to the software advice survey unified communication subscription cost is USD 75 per user or more. Data privacy and communication regulations such as GDPR and HIPAA add complexity and challenges to unified communication implementation. Issues related to call quality, reliability, and network congestion can negatively impact users. The global unified communication market is highly competitive as many providers offer similar services which makes it challenging to choose the right solution.
Global Unified Communication Market – Opportunities
The continued adoption of hybrid work models creates opportunities for unified communication solutions that are remote. The 5G networks provide the impostures for enhanced mobile and IoT capabilities. AI-powered features such as chatbots, and sentiment analysis can enhance unified communication platforms. Small and medium-sized businesses are increasingly adopting unified communication solutions. As businesses expand globally, the demand for unified communication solutions that support multilingual communication. Collaboration between unified communication providers and technology companies can lead to innovative solutions and an expanded global unified communication market.
Global Unified Communication Market – Geographical Insight
The market for global unified communication market segmented into the regions of North America, Latin America, Asia Pacific, Europe, the Middle East& Africa. North America to accounts for the largest market size during the forecast period is estimated to dominate global UCaaS due to the presence of a large number of UCaaS vendors and high adoption of BYOD and enterprise mobility trends across the region. Asia-Pacific is a rapidly growing unified communication market with countries like China and India experiencing significant adoption. European countries including the UK and Germany have embraced unified communication solutions, especially in sectors like finance and healthcare.
Global Unified Communication Market – Key Development
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