Unified Communications Market share to grow at 13.2% CAGR from 2016 to 2023

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Unified Communications Market share to grow at
13.2 CAGR from 2016 to 2023 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Unified Communications Market

• Rising demand in the enterprise sector is
  anticipated to propel the unified communications
  market over the forecast period. This can be
  attributed to the ability of the technology to
  deliver real-time communication services required
  for critical business operations. Enterprises are
  installing new solutions along with updating
  their existing telephony or messaging
  infrastructure. The trend is predicted to drive
  the unified communications market size due to the
  rising need to improve operational efficiency and
  reduce costs.
• UC technology provides scalability and
  flexibility coupled with the high availability
  for essential business tasks. Implementation of
  the technology in businesses has been amplified
  due to the numerous advantages associated with it
  including cost-efficiency, pay as per use and
  requirement, and reduced travelling time.
  Furthermore, it has eradicated the drawback of
  synchronous functions of geographically dispersed
  regions.

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Continued...

• Key insights from the report include
• Hosted unified communications market size
  is anticipated to witness significant growth over
  the forecast timeline. The advantages associated
  with these products such as rapid implementation,
  automated upgrades, and scalability will drive
  demand in the coming years. Furthermore,
  development of cloud technology systems is
  expected to boost the UCaaS market.
• Enterprises dominated as of 2015, occupying
  nearly 60 of the unified communications market
  revenue, which can be credited to the increasing
  adoption for enhancing business processes and
  advantages offered by unified communication
  systems such as mobility.
• Government applications will exhibit
  considerable growth prospects due to escalating
  adoption of the technology to accommodate the
  needs of citizens pertaining to the permit
  processing and public safety. These solutions
  enable governments to efficiently deal with the
  emergencies and crisis conferencing.

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Continued...

• Asia Pacific is anticipated to witness
  significant growth at a CAGR of nearly 15 over
  the next eight years. Increasing demand for
  mobility is driving the demand advanced UC
  systems across the region. Furthermore, huge
  population base is anticipated to offer favorable
  opportunities for the India and China unified
  communications market share.
• Industry players include Microsoft
  Corporation, Avaya Inc, Alcatel-Lucent, and Cisco
  Systems, NEC Corporation, Siemens, and ShoreTel,
  among others. The industry participants are
  focusing on frequent mergers and acquisitions to
  gain prominence in the UC market. For example, in
  2015, Cisco Systems acquired Acano. The
  collaboration will benefit Cisco to expand the
  scalability and interoperability of their product
  portfolio enabling clients to connect from any
  mobile location.

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Europe Unified Communications Market size, by
application, 2012-2023 (USD Billion)

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Continued...

• The capability of accommodating multiple
  functionalities of communication system on a
  single platform makes telephony an essential tool
  in the business environment. The telephony
  technology is expected to boost the UC market
  size due to its compatibility with automated
  transfer of fax, voice, or other information.
  Furthermore, the rising demand of IP and VOIP
  telephony in telecom IT, BFSI, travel
  hospitality and logistic transportation
  industries serve as a significant driving factor
  for the unified communications market size.
• The consumer goods and retail sector may offer
  significant opportunities to the unified
  communications market size over the next few
  years. The technology helps retail outlets to
  update the business procedures by empowering
  rapid real-time services and quicker transaction
  closures. Cloud-based UC applications ensure
  organizations to eradicate wealth spending and
  adopt to an operational cost prototype which
  enables them to pay based on the required
  capacity.

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360 Analysis

• Application Trends
• Enterprises occupied more than 60 of the unified
  communications market share in 2015, with a
  similar trend forecast over the next few years.
  This can be attributed to the increase in demand
  for scalability in business operations and
  flexibility to access the several communication
  channels to increase the productivity.
• Regional Trends
• U.S. unified communications market share is
  responsible for high revenue generation in North
  America. Increasing adoption of advanced IT
  technologies and innovative communication
  solutions across industry verticals including
  enterprise, government, and healthcare to improve
  business agility, productivity, and competitive
  positioning are expected to drive the regional
  growth over the forecast period.
• Competitive Market Share
• Key industry players Avaya Inc, Microsoft
  Corporation, Cisco Systems, and Alcatel-Lucent.
  Other prominent players include IBM Corporation,
  NEC Corporation, ShoreTel, Siemens, among others.
  The UC market is witnessing the trend towards
  consolidation with several players in the market
  undergoing mergers and acquisitions such as Esna,
  Acano, Talko, Unify, Tropo, Glip, and Fuze, among
  others.

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