The Unified Communications Market Will Exceed 57 Billion Dollars In 2024

According to a report by Global Market Insights, Inc., the global market for Unified Communications and Collaboration solutions will exceed 57 billion dollars in the year 2024. This growth is attributed to the increase in mobile device penetration and greater adoption of the BYOD trend in companies on a global scale. 

In the last 10 years, mobile devices have gone from being just a means of voice communication to an intelligent device with sophisticated multifunctional capabilities that facilitate mobility in the workplace. Allowing employees to bring their own devices to the workplace helps companies significantly reduce hardware and service costs. Therefore, companies increasingly accept BYOD to improve employee productivity. UCC technology takes advantage of this BYOD ecosystem to allow efficient communication with mobile resources.

Adoption of UC solutions in the cloud

As the modernization of infrastructure and the traditional communications network becomes a big challenge in a rapidly evolving business environment, companies are increasingly leaning towards UC solutions in the cloud and hybrids to scale and manage resources Communication. According to the Global Market Insights, Inc. report, it is also expected that an expanding global cloud ecosystem will drive market growth over time.

On the other hand, telephony platforms will have a significant market share of more than 25% by 2024 due to the implementation of telephony applications in companies of various sectors as the main means of communication to allow commercial communication in real time. The IP telephony segment will guarantee a greater participation in the telephony market during the next 6 years, since they have numerous benefits over analog telephones and cost much less than traditional telephone services. The increasing emergence of collaborative systems will also facilitate meetings between companies or members of the same organization located in various geographic locations.

In addition, the cloud-based UCC market will experience favorable growth through 2024 due to the growing popularity and adoption of cloud communication solutions in various sectors, from IT and telecommunications, banking, insurance, financial services, health and public services.

Increase in the IT and telecommunications market

According to the Global Market Insights, Inc. report, the UCC IT and telecommunications market will get a large share of the overall market by 2024 due to high adoption and technology applications for process flows in the industry. Effective team collaboration and network availability are some of the key requirements of companies operating in this sector. Therefore, UCC’s technology will gain great acceptance from companies that operate on an extensive global scale.

In addition, with the increase in the proliferation of new companies in the IT sector, the demand for cost-effective unified communications capabilities will increase over the next 6 years to reduce the cost of acquiring, maintaining and updating the IT infrastructure.

The United States will dominate the UCC market in 2024

North America will dominate the Unified Communications and Collaboration market in 2024 mainly due to the availability of a solid telecommunications and cloud infrastructure in the region. In addition, a growing adoption of BYOD solutions and the willingness to adopt this mobility trend by US companies will also positively contribute to the growth of the market.

On the other hand, the Asia Pacific market is expected to grow with an annual growth rate of over 13% between 2018 and 2024 due to the growing demand for a better commercial communication infrastructure by organizations operating in emerging economies such as Japan and China With constant economic development, companies in these countries are growing both in scale and geographically, which leads to the need to strengthen the functions of internal and external collaboration.