The global unified communications and collaboration market is estimated to be USD 84,796.8 million in 2023. With a CAGR of 12.3%, the projected market growth from 2023 to 2033 is expected to be significantly higher than the historical growth. Large Enterprises are expected to be the highest revenue-generating category, projected to register an absolute dollar opportunity of 11.7% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Unified Communications and Collaboration Market Size (2023) | USD 84,796.8 million |
| Global Unified Communications and Collaboration Market Size (2033) | USD 271,306.4 million |
| Global Unified Communications and Collaboration Market CAGR (2023 to 2033) | 12.3% |
| United States Unified Communications and Collaboration Market Size (2033) | USD 84,796.8 million |
| United States Unified Communications and Collaboration Market CAGR (2023 to 2033) | 12.3% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
As per the unified communications and collaboration market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 15.7% CAGR.
Unified Communications (UC) systems have been used by businesses to decrease operational costs, improve revenues, and build customer connections. By combining diverse communication technologies into a single platform, UC enhances decision-making.
As an outcome, unified communications systems are frequently used to promote cross-functional collaboration and achieve favorable results.
RingCentral, Inc., a leading supplier of global business cloud communication, collaborations, and contact center solutions, has established a significant relationship with Avaya Holdings Corp., a global pioneer in solutions to increase and simplify communication systems and collaborative efforts.
Avaya will offer Avaya Cloud Office with RingCentral, a worldwide unified communication as a services (UCaaS) solution, as part of this exclusive alliance.
The most recent innovations, like Artificial Intelligence (AI), are crucial in aiding associations in accomplishing their computerized change objectives.
Simulated intelligence-empowered arrangements can help associations make easy records, follow speakers, naturally record calls, and grasp clients' requirements. Artificial intelligence-empowered UCaaS arrangements can likewise help in opinion examination.
The adoption of cloud-based communication solutions enabling quick and smooth communication across businesses is likely to boost market development. Businesses are using cloud-based collaboration solutions through several time zones to boost the effectiveness of their mobile team members.
The telecommunications industry will observe an uptick in revenue due to its collaboration with UCC, a single network infrastructure that supports unified communications management.
Comcast recently finalized the acquisition of Blueface, a provider of unified communication services. Blueface's patented and completely customized cloud voice unified communications technology will be added to Comcast Company's portfolio of business-grade products, allowing enterprises to interact and collaborate more easily.
Customers will have access to video and audio capabilities to communicate with employees throughout devices and locations since Blueface's Unified Communications (UC) service is added here to the Comcast Business portfolio.
Principal Consultant
In 2023, the on-premise segment led the unified communications industry, accounting for over half of worldwide sales. However, due to the complexity of deploying and administering contemporary full-stack UC platforms, the demand for the new on-premise unified communication network and licenses is likely to continue to fall during the term.
Firewall and session border control systems must be configured to allow remote users access. As a result, demand for on-premise UC systems is likely to fall throughout the projection period.
Zoom recently announced the addition of a new Referral Partner Program and relationships with businesses like Master Agent AVANT Communication, Intelisys, Pax8, and Telarus to its Worldwide Channel Partner Program.
Zoom's video-first unified communication platform's go-to-market strategy will include the new Partner Referral Program. It builds successful relationships by training, enabling, and inspiring partners to develop, advertise, and sell Zoom-based solutions.
In 2020, Europe dominated the unified communications industry, accounting for over half of all sales. The growing demand for UC in the region has allowed many providers to establish themselves.
The Yamaha ADECIA solutions, a full and smart microphone and a lines array audio system intended to reduce all hurdles for outfitting conference rooms and schools with better audio quality, received a favorable review from Wainhouse Research.
The ADECIA product line solves installed audio issues by expediting installation and configuration once at a time when human capital is in limited supply throughout North America and Europe, thus lowering installation costs and production schedules.
Over the projection period, the market in the Asia Pacific is projected to account for the largest CAGR. The expansion can be ascribed to an increased focus on collaboration and cost-cutting strategies in the region to guarantee greater resource use.
Banking and financial services, BPO, government, telecommunications, logistics, and hospitality have all resorted to unified communications to provide more effective services.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
By the end of 2033, the United States is predicted to account for the largest market share of USD 83 Billion.
Given that the United States was one of the countries most hit by COVID-19, government agencies, healthcare professionals, and physical and online distribution networks in the United States are counting on effective communication and teamwork to provide sufficient care and diagnosis. In the United States, this has been pushing the application of UCaaS.
360networks is a significant wholesale distributor of communications equipment and services within the western United States. Their entire variety of voice-leased line circuits, including data services, is built on a unified network infrastructure that the firm owns and operates, allowing them to deliver dependable, rapid client support directly from the source.
The fiber-optic backbone was designed from the bottom up to provide constant performance throughout 17,200 route miles.
The large enterprise segment is forecasted to grow at the highest CAGR of over 11.7% from 2023 to 2033. Tech-savvy employees demand more communication at work to promote efficiency and production. Furthermore, the sector is driven by the growing number of millennials in the workplace and the necessity for multi-channel communication.
Large organizations are continually updating their communication infrastructure to attract the finest employees. As a result of the new generation of employees, the demand for UC is projected to increase in the coming years.
BlueJeans Network, a recognized enterprise-grade video conferencing and events platform, was acquired by Verizon Business in a formal agreement. With this purchase, Verizon's virtual unified communications portfolio has expanded. BlueJeans' easy, smart, and trustworthy meeting platform will be combined with Verizon's unified communication as a services provider.
On Verizon's high-performance international networks, customers can benefit from a BlueJeans company video experience. Additionally, the platform will be tightly integrated into Verizon's 5G product pipeline, allowing for secured and actual engagement solutions in high-growth sectors, including medical, remote learning, and field service operations.
The BFSI segment is forecasted to grow at the highest CAGR of over 12% from 2023 to 2033. Within the financial services industry, unified communications and collaboration are at the edge of facilitating transformation.
Digital transformation thrives with UC&C, whether in dispersed financial services delivery, developing new channels and forms of interaction, agile operations, or fulfilling new regulatory criteria. Financial services businesses with better insight and control over their UC&C landscape are becoming masters of change.
The Reserve Bank of India has sent off UPI123Pay, a solution that will permit clients to make UPI payments utilizing their cell phones and incorporate them into the electronic payment environment. The UPI 123 services will be available to the country's expected 450 million functional mobile users, primarily utilizing 2G networks.
UPI-123Pay seeks to provide the UPI stack's online payment value to feature handsets. Users were required to call a feature phone and pay up to a predetermined number to access banking transactions without using the internet by using UPI payment through the use of pre-defined IVR numbers.
The leading players in the global Unified Communications and Collaboration market are Zoom Video Services, BlueJeans Network, Verizon, BT Group, Cisco Systems Inc., Genesys (Permira), Google LLC, Huawei Technologies Co., Ltd., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation.
The United States, Japan, and China dominate the global market.
The market is forecast to register a CAGR of 11.7% through 2033.
From 2018 to 2022, the market registered at a CAGR of 15.7%.
Cloud-based communication solution is the current market trend.
The global market size is to reach USD 84,796.8 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Types 5.2. Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 6.1. On-Premises 6.2. Public Cloud 6.3. Hybrid Cloud 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 7.1. Small and Medium-sized Enterprises 7.2. Large Enterprises 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 8.1. BFSI 8.2. Retail and Consumer Goods 8.3. Public Sector and Utilities 8.4. Logistics and Transportation 8.5. Travel and Hospitality 8.6. IT and Telecom 8.7. Healthcare 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. 8x8 Inc. 19.2. Amazon.com Inc. 19.3. Avaya Inc. 19.4. CenturyLink Inc. 19.5. Cisco Systems, Inc. 19.6. Fuze Inc. 19.7. Cisco Systems Inc. 19.8. Avaya Inc. 19.9. Alcatel-Lucent 19.10. IBM Corporation 19.11. Plantronics Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
Explore Technology Insights
View Reports
Unified Communications and Collaboration Market
