Unified Communications Market size forecast to reach USD 96.0 billion by 2023

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Unified Communications Market size reach USD 96.0
billion by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Unified Communications (UC)
Market

• Enterprises accounted for more than 60 of the UC
  market share in 2015. This can be primarily
  attributed to rising adoption of video
  conferencing and web based collaboration.
• Education sector is expected to grow at 13.7
  CAGR from 2016 to 2023 owing to increasing demand
  for distance learning.
• North America unified communications market size
  was worth over USD 12 billion in 2015.The region
  has been driven by factors such as growing
  popularity of BYOD and presence of a number of
  major industry participants.

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Continued

• Asia Pacific unified communications market share
  is forecast to reach over 29 by 2023. Growing
  emphasis on cost cutting as well as demand for
  collaboration is expected to drive regional
  demand over the next seven years.
• Raw materials required for manufacturing hardware
  components of these systems include
  microprocessors, Integrated Circuits (ICs),
  amplifier boards, and other electronic elements.
• Key players include Cisco Systems, Microsoft,
  Alcatel-Lucent and Avaya. Competition is fierce
  among major manufacturers, with high emphasis on
  achieving product differentiation on the basis of
  quality.

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Europe unified communications market size, by
application, 2012 - 2023 (USD Billion)

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360 Analysis

• Application Analysis
• With over 60 of the global unified communication
  market share in 2015, enterprises were the
  leading application industry. Video conferencing
  and Web based collaboration are expected to be
  increasingly deployed across enterprises. They
  have also been turning to hosted and managed UC
  services to address the problem of high initial
  investment. Increased awareness regarding
  benefits has also led to adoption in small and
  medium-sized businesses (SMBs).
• Regional Analysis
• Demand from the U.S. unified communications
  market resulted in North America accounting for
  over 35 of the global revenue generation in
  2015. Asia Pacific UC industry is predicted to
  grow at 15 CAGR from 2016 to 2023.
• Competitive Market Share
• Major companies contributing to global unified
  communications market share are Cisco Systems,
  Microsoft Corporation, Avaya Inc, and
  Alcatel-Lucent. The industry is characterized by
  intense competition between these players for
  achieving product differentiation on the basis of
  quality. This has also resulted in increasing
  consolidation through strategic initiatives such
  as mergers, acquisitions, and partnerships.

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