Global Unified Communications Market to Reach US$ 276 Billion by 2028, Fueled by Rising Adoption of BYOD and WFH Practices

June 15, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “Unified Communications Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global unified communications market size reached US$ 107 Billion in 2022. Unified communications (UC) refers to a comprehensive integration of various communication tools and platforms to streamline and enhance collaboration and communication within organizations. It combines a range of communication services, such as voice, video, messaging, presence, and data sharing, into a single cohesive system accessible from different devices and locations. UC enables users to seamlessly switch between different communication channels and devices, creating a unified experience. In addition to this, it includes features such as screen sharing, file sharing, and virtual whiteboards, enabling teams to collaborate and work on projects collectively. It eliminates the limitations imposed by traditional siloed communication systems, allowing individuals and teams to connect and collaborate more effectively regardless of their physical location.

Global Unified Communications Market Trends:

The rising demand for streamlined and efficient communication tools to enhance collaboration and productivity across various organizations is primarily driving the market growth. Moreover, the emerging trends of work-from-home (WFH) and bring-your-own-device (BYOD) have fueled the demand for unified communications solutions that can be accessed from any device at any time, regardless of location, thus favoring the market growth. Besides this, the surging popularity of video conferencing as businesses seek cost-effective alternatives to travel and embrace remote work is presenting remunerative opportunities for market growth. In addition to this, the escalating use of unified communication among numerous organizations to provide personalized and responsive customer experiences through various channels, such as email, phone, chat, and social media, is contributing to the market growth. Concurrent with this, the widespread integration of cloud services and the mobile-first approach of UC solutions are acting as a significant growth-inducing factor. Furthermore, ongoing technological advancements, including the incorporation of artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT), with UC solutions to enhance product capabilities and functionalities, are creating an optimistic outlook for the market growth. Looking forward, the market value is projected to reach US$ 276 Billion by 2028, expanding at a CAGR of 17% during 2023-2028.

Market Summary:

On the basis of the component, the market has been divided into solution (instant and unified messaging, audio and video conferencing, IP telephony, and others), and services (professional and managed services). Currently, solution dominate the market, holding the largest share.
Based on the product, the market is bifurcated into on-premises and hosted. Between these, on-premises represents the biggest market segment.
On the basis of the organization size, the market has been segregated into small and medium-sized enterprises, and large enterprises. At present, large enterprises account for the majority of the global share.
Based on the end user, the market is categorized into enterprises, education, government, healthcare, and others.
On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Among these, North America enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being 8x8 Inc., Avaya Holdings Corp., Cisco Systems Inc., GoTo (Citrix Systems Inc.), Huawei Technologies Co. Ltd., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation (AT&T Inc.), Ringcentral Inc., Verizon Communications Inc. and Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson).

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Component, Product, Organization Size, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	8x8 Inc., Avaya Holdings Corp., Cisco Systems Inc., GoTo (Citrix Systems Inc.), Huawei Technologies Co. Ltd., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation (AT&T Inc.), Ringcentral Inc., Verizon Communications Inc. and Vonage Holdings Corp. (Telefonaktiebolaget LM Ericsson).
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Global Unified Communications Market to Reach US$ 276 Billion by 2028, Fueled by Rising Adoption of BYOD and WFH Practices

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