Apr 07, 2020 Xherald -- Platform-wise, the conferencing segment in unified communications and collaboration market is forecast to register a notable CAGR of more than 10% over 2020-2026. Conferencing solutions provide multi-user connectivity to aid communication on the same call, which is becoming increasingly crucial for business decisions and real-time information sharing in the current scenario. The purpose of call conferencing can be successfully implemented by web, video or audio conferencing, depending on the convenience and requirement of users participating in it. Unified communications & collaboration service providers leverage conferencing technologies to facilitate quick communication among businesses with personnel and customers, which can be either free of cost or on subscription basis to access services.
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Growing demand for connectivity and reliable communications from businesses along with rising investments to enhance existing communication network infrastructure is likely to drive global unified communications and collaboration market outlook.
Widespread availability of 4G network connectivity and ongoing investments for commercialization of 5G networks is positively contributing towards transformation of modern enterprise communication solutions.
The mobile segment held a unified communications and collaboration market share of nearly 30% in 2019 as it offers knowledge sharing effectively across dispersed teams. Mobile communication solutions reduce travel costs for companies. Employees could coordinate activities directly with each one and could also make decisions which are important for their work. This enables them to increase productivity from their home office.
Based on application, the unified communications and collaboration market is bifurcated into BFSI, healthcare, IT & Telecom, public sector and retail. Among these, the retail sector is likely to record a CAGR of over 10% between 2020-2026 due to rising adoption of UCC for enhancing retail customer experience.
UCC can help people communicate in real time and significantly save time, thereby enabling them to talk to each other faster, exchange documents, have video meetings, exchange ideas.
On the basis of deployment model, Unified communications and collaboration market has been segmented into on-premise, cloud, hybrid, and Unified Communication as a Service (UcaaS) models. Owing to combined features of scalability and enhanced data control, hybrid deployment model is forecast to showcase a growth rate of more than 15% over the analysis period. Hybrid UCC solutions combine the benefits of both cloud and on-premise cloud to enable secure and scalable communications infrastructure. These solutions also provide on-demand access to manage workloads for enterprises. Due to workload mobility capabilities, easy capacity expansion, and network optimization feature offerings, UCC hybrid deployment model is gaining wide acceptance across enterprises. Also, hybrid UCC models render robust disaster recovery services, which has favored their extensive utilization in mobile and web development use cases.
In terms of regional contribution, Europe Unified communications and collaboration market is set to grow at a CAGR of 10% over the forecast timeline owing to extensive adoption of BYOD technologies in major business corporations across the region. Over 40% of the mid-sized firms across Europe have deployed unified communications. Incorporation of unified communications has resulted in improved project management, faster problem solving, better team collaboration, and enhanced customer experience.
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Major players contributing towards Unified communications and collaboration market growth include Alcatel Lucent Enterprise, 8×8 Inc, Avaya Inc., BT Group, Genesys, Cisco Systems Inc., Huawei Technologies Co., Microsoft Corporation, IBM Corporation, Mitel Networks Corporation, Nextiva, Orange Business Services NEC Corporation, RingCentral Inc., Verizon Communications, Star2Star Communications, Atos SE, West Corporation, and Vonage Holdings Corp.
Some Points From Table Of Content: -
Chapter 6. Unified communications and collaboration market, By Deployment Model
6.1. Key trends, by deployment model
6.2.1. On-premise market estimates and forecast, 2015 - 2026
6.3.1. Cloud market estimates and forecast, 2015 - 2026
6.4.1. Hybrid market estimates and forecast, 2015 - 2026
Chapter 7. Unified communications and collaboration market, By Application
7.1. Key trends, by application
7.2. IT & telecom