Global unified communications market is expected to reach US$61.9 billion in 2018, growing at a CAGR of 15.7% from 2012 to 2018
A new report published by Transparency Market Research (TMR), titled “Unified Communications Market - Global Industry Analysis, Size, Share, Trends and Forecast, 2012 - 2018”, presents a balanced study of the market along with an analysis of its segments and sub-segments. It helps in identifying the strengths, weaknesses, opportunities, and threats faced by this market.
According to this report, the global unified communications market is expected to reach US$61.9 billion in 2018. The research report on the global unified communication market notes the factors that will support this growth rate and warns about those restraining its development.
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The global unified communications market refers to a business module that integrates real-time communication with non-real-time communication. The services under the umbrella of global unified communications market are messaging, fax, voice mail, and others.
Real-time communication under the global unified communications market includes video conferencing, data sharing, instant messaging, internet protocol (IP) telephony, and desktop sharing. These services also extend to communications such as digital signage and internet protocol television.To put it simply, unified communications describes all forms of call and multimedia messages functions that are form a business process or an individual uses for personal purposes.
The global unified communications market is segmented on the basis of type, end-user applications, and geography. The type segment of the global unified communications market includes on-premise and hosted or cloud-based.
On the basis of end-user applications, the segmented is further fragmented into enterprises, education, healthcare, and government. Geographically, the global unified communications market studies regions such as North America, Europe, Asia Pacific, and Rest of the World.
According to analysts, North America holds a huge share of the global unified communications market. However, regions in Europe, the Middle East, and Africa are expected to challenge North America in the coming four years.
Industry analysts predict that the unified communications market in Europe, the Middle East, and Africa was valued at US$ 6.38 billion in 2011 and is projected to grow at a CAGR of 21% from 2012 to 2018.
The primary growth drivers for the global unified communications market are rising mobile workforce, growing penetration of mobile devices, virtualization of organizations, need for cloud computing, and adoption of bring your own devices (BYOD) in several business houses. Additionally, as companies look at ways to reduce costs and improve efficiency by cutting down on travel time, their efforts are leading to the acceleration of the global unified communications market in top gear.
However, factors that hinder the growth of the global unified communications market are high initial costs of investment, dependency on the virtual world, and complexity and uncertainty of returns on investment, especially with technology.
Some of the key players in the global unified communication market are Huawei Technologies, Cisco Systems, Alcatel Lucent, IBM, Polycom, NEC, Avaya, Siemens Enterprise Communications, Microsoft, and ShoreTel.
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