Title: Unified Communications Market size forecast to reach USD 96.0 billion by 2023
1Unified Communications Market size reach USD 96.0
billion by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2Key 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. -
3Continued
- 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.
4Europe unified communications market size, by
application, 2012 - 2023 (USD Billion)
5 Browse Full Market Research Report On Unified
Communications (UC) Market _at_ https//www.gminsig
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arket Request for a Sample of this Research
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6 360 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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