$ 169.82 Billion growth expected in Unified Communication and Collaboration Market | 46.81% YOY growth in 2021 amid COVID-19 Spread | North America to Notice Maximum Growth | Technavio
NEW YORK, May 14, 2021 /PRNewswire/ — The global unified communication and collaboration market by end-user (enterprise and government), application (enterprise collaboration, enterprise telephony, and contact center), and geography (North America, Europe, APAC, South America, and MEA) has been added to Technavio’s offering. The global unified communication and collaboration market is expected to grow by USD 169.82 billion. However, the market growth momentum is expected to decelerate at a CAGR of over 35% during 2021-2025.
Unified communication and collaboration (UCC) solutions were widely adopted by large enterprises. Recently, the market has been witnessing a steady rise in the adoption of UCC solutions by many medium-sized enterprises and small-sized enterprises to make the workflow smoother and easier. The growing demand for UCC solutions is compelling market vendors to adopt various strategies to remain competitive in the market. Many such factors will have a positive impact on the market during the forecast period.
The market is expected to be driven by factors such as the growing demand for video and voice conferencing, increasing internet penetration, and growing demand for WebRTC-enabled devices.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Unified Communication and Collaboration Market: Opportunities
The number of technology start-ups has been increasing significantly across the world. For instance, the number of listed domestic companies in East Asia and the Pacific was 14,716 in 2011. This number was increased to around 19,498 in 2019. Also, the rising adoption of BYOD and work from home policies by enterprises is increasing the demand for efficient UCC solutions. Many such factors are expected to create significant opportunities for market vendors during the forecast period.
Unified Communication and Collaboration Market: Segmentation by End-user
Based on the segmentation by end-user, the market generated maximum revenue in the enterprise segment in 2020. The segment is driven by the increasing focus on streamlining business operations by enterprises. In addition, the proliferation of start-ups led by favorable government policies is expected to foster the growth of the segment during the forecast period.
Unified Communication and Collaboration Market: Segmentation by Geography
North America held the largest market share in 2020 and the market growth in the region is expected to be slower compared to the growth of the market in other regions. The growth of the market in North America can be attributed to the presence of large enterprises and the high adoption of digitalization in the region. Also, the rise in the number of mobile workers and the rising demand for UCC solutions from colleges and universities are contributing to the growth of the unified communication and collaboration market in North America.
One of the fortune 500 companies had used the detailed research report on the unified communication and collaboration market and had decided to increase their market share in the North American region which offers the highest market opportunities during the forecast period.
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Unified Communication and Collaboration Market: Major Vendors
The company offers 8×8 X Series that sets employees and customers free by connecting them with a single app for all modes of communication, running on the 8×8 Open Communications platform in the cloud.
The company offers unified communications that can be used to connect the office to anywhere, whether remote, onsite, or at a client thanks to secure, reliable phones, and solutions.
Avaya Holdings Corp.
The company offers unified communications solutions that enable work-from-anywhere culture, so everyone is always ready to meet unplanned work head-on.
Huawei Investment & Holding Co. Ltd.
The company offers unified communications & video surveillance management which supports management and monitoring of unified communications, videoconferencing, and video surveillance devices.
The company offers unified communications namely, Unified Communications Managed API 4.0 Runtime which is a managed-code platform that developers use to build applications that provide access to and control over Microsoft Enhanced Presence information, instant messaging, telephone and video calls, and audio/video conferencing.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the unified communication and collaboration market report:
- Further breakdown of the market segmentation at requested regions.
Market Player Information
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the COVID-19 Recovery Phase.
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Enterprise collaboration – Market size and forecast 2020-2025
- Enterprise telephony – Market size and forecast 2020-2025
- Contact center – Market size and forecast 2020-2025
- Market opportunity by Application
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Enterprise – Market size and forecast 2020-2025
- Government – Market size and forecast 2020-2025
- Market opportunity by End-user
- Customer landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 8×8 Inc.
- ALE International
- Avaya Holdings Corp.
- Cisco Systems Inc.
- Huawei Investment & Holding Co. Ltd.
- Microsoft Corp.
- Mitel Networks Corp.
- NEC Corp.
- RingCentral Inc.
- Star2Star Communications
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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