Unified Communications Market To Generate Revenue of $143.49 Billion By 2024 | Key Industry Players IBM Corporation, Microsoft Corporation, Polycom Inc.

San Francisco, 28 September 2018 - According to a report available on Radiant Insights, Inc.; the unified communications market is likely to show substantial growth by 2024.

Factors such as technological innovations, growing need to improve interoperability and operational efficiency in the organizations, growing demand for cloud solutions, and rising need forreal-time and efficient communication systemscan people the market during the forecast period (2018 to 2024). In addition, rising need for mobility, and high adoption of smart devices can create several opportunities in the market.

Growing demand for cloud solutions is expected to drive the market in the coming years. Increasingtrend of bring your own devices (BYOD) is likely to continue the adoption of cloud-based UC solutions in the coming years. Organizations are increasinglysubstitutingon-premises communications and collaboration system with SaaS-based UC software. Cloud-based systems are easy to maintain and offerquick and unified communication capabilities at affordablecosts. Moreover,technological advancements and growing deployment of artificial intelligence (AI) assistance can have positive impact on the market. Several businesses are familiar with UC as well as Voice over Internet Protocol (VoIP) concepts due to incorporation of traditional IT and telecom capabilities coupled with development of convergence. This is also expected to support the market growth.Growing implementation of as-a-service model across the enterprises is considered as the major drivers for the market. This model providesflexibility to enterprises for addition or removing users, reduces the risk of technology obsolescence, which has been observed in on-premises solutions. In addition, it can be beneficial for internal collaboration with mobile workers and outward collaboration with partners, clients, and suppliers.For instance,NorthState Technology Solutions, cloud and IT solutions provider has recently launched hosted Unified Communications as a Service (UCaaS) solution. This is intended to allow organizations to improve universal collaboration as part of digitization strategy.  The UCaaS solution allows business to adopt new techniques to collaborate from any location and any time. It includes may features such as completely integrated call control and voicemail, numerous subscription phone facilities including conferencing and video endpoints, wireless, and integrated voice over IP trunking services.

However, several issues regarding implementation of UC is likely to restrict the market growth over the forecast period.

Worldwide unified communications market can be segmented on the basis ofregion.

Geographically, the market can be divided into North America, Europe, Asia Pacific, and The Middle East and Africa.

North America has been dominating the market due to existence of large enterprises, availability of established infrastructure along with high-speed broadband networking, and rising number of hosted servers. The U.S has been major contributor in the region. Growing enterprise expensed on latest technology including data analytics, cloud-based PBX, and cloud-based contact centers is expected to boost the market in the region.

Asia Pacific is expected to the fastest growing regiondue to growingmobilization trend across the enterprises. Existence of large customer base and increasing investments to improve high-speed data networks in the region is expected to increase demand for UC systems in the coming years.

Key players operating in the market include Plantronics Inc.; IBM Corporation; ShoreTel Inc.; Verizon Communications Inc.; and Cisco Systems Inc.

The market comprises large number of local and international vendors. Established companies with their proven capabilities are expected to be the first choice for the enterprise owing to their ability to provide to standardized communication necessities.

Full Research Report On Global Unified Communications Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/unified-communication-market

Grand View Research has segmented the global unified communications market on the basis of product, application, and region:

Unified Communications Product Outlook (Revenue, USD Billion, 2012 - 2024)

• On-premise
• Cloud-Based/Hosted

Unified Communications Application Outlook (Revenue, USD Billion, 2012 - 2024)

• Enterprises
• Education
• Government
• Healthcare
• Others

Unified Communications Regional Outlook (Revenue, USD Billion, 2012 - 2024)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Japan
• South America
• Brazil
• Middle East and Africa (MEA)

Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-unified-communication

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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