The size of global unified communications market is estimated to reach 417.86 billion by 2030, registering a compound annual growth rate (CAGR) of 17.7% from 2022 to 2030. Corporate organizations are gradually switching to Unified Communications (UC) solutions to boost revenue generation, maintain customer relationships, and lower operating expenses. UC optimizes decision-making by communication instruments including multimodal communication in a single platform. Thus, the UC market offers cross-functional communications and generates positive results.
Owing to lower capital expenditures, operational costs, and total ownership costs, the hosted UC product segment is estimated to register the highest CAGR of 20.6% from 2022 to 2030. The predictable and straightforward operational cost model of UC solutions is driving businesses to host UC systems to upgrade their storage capacity.
A UC platform is delivered by the hosted solution, facilitating collaboration and communication services through a variety of channels. Furthermore, a hybrid solution enables communication between on-premises and cloud platforms, thus, making the channel flexible to a variety of systems and business models. As a result, it is anticipated that more businesses will adopt hosted UC systems in the future.
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Unified Communications Market Highlights
• The audio and video conferencing solution segment is set to showcase a staggering CAGR of 19.6% by 2030, owing to increasing demand for video conferencing
• Businesses rely on audio and video conferencing to make office meetings interactive, collaborative, and efficient. For instance, in 2020, telecom company Bharti Airtel Limited teamed up with Zoom Video Communications, Inc. to introduce a unified communications solution for businesses in order to meet the demand for audio, video, and web conferencing in India
• Asia Pacific is anticipated to showcase the highest growth rate of 20.3% during the forecast period owing to the mobilization of enterprises and the booming Business Process Outsourcing (BPO), Banking & Financial Services (BFS), telecom, government, hospitality, logistics that require efficient communications and connectivity
Unified Communications Market Segments
Unified Communications Product Outlook (Revenue, USD Billion, 2018 - 2030)
Unified Communications Solution Outlook (Revenue, USD Billion, 2018 - 2030)
• Instant & Unified Messaging
• Audio & Video Conferencing
• IP Telephony
Unified Communications Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)
• Large Enterprises
Unified Communications Application Outlook (Revenue, USD Billion, 2018 - 2030)
Unified Communications Regional Outlook (Revenue, USD Billion, 2018 - 2030)
• North America
• Asia Pacific
• South Korea
• New Zealand
• South America
• Middle East and Africa
List of Key Players in Unified Communications Market
• Alcatel-Lucent Enterprise
• Avaya Inc.
• Cisco Systems Inc.
• Microsoft Corporation
• Mitel Network Corporation
• NEC Corporation
• Poly (Platonics Inc.)
• Unify (Atos SE)
• Verizon Communications Inc.
• Tata Communications
• IBM Corporation