The global unified communication and collaboration market size is expected to grow from USD 76.7 billion in 2022 to USD 141.6 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 13.0% during the forecast period. UCC is a set of solutions that businesses use to make sure that almost all their technology integrates seamlessly and securely for close to real-time collaboration. With the use of UCC, organizations can interact virtually seamlessly, including voice, IP Telephony Calling, instant messaging, desktop sharing, presence, web conferencing, audio conferencing, and video conferencing which is increasing its demand.
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As per vertical, the IT and telecom segment to expected to grow at the highest CAGR during the forecast period
The UCC market is segmented into banking, financial services & insurance (BFSI), IT and telecom, retail and consumer goods, healthcare, public sector and utilities, logistics and transportation, travel and hospitality, and other verticals. As per vertical, IT and telecom is expected to grow at the highest CAGR of 14.5% during the forecast period. The majority of telecom vendors, such as Google, Microsoft, and Zoom, are offering unified communication and collaboration (UCC) solutions, including UCC, enterprise telephony, and telepresence, to deliver cost-effective communication platforms, reducing company expenses and improving productivity. Most IT and telecommunication organizations are widely adopting BYOD, which is expected to contribute to the growth of the UCC market in this vertical. An increasing number of employees are bringing their own devices, such as smartphones and tablets, to the office for their work.
IP Telephony, by type to grow at the highest CAGR during the forecast period
The IP Telephony is expected to grow from 31.1 billion in 2022 to USD 65.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 16.2% during the forecast period. An IP telephony is an aspect of communication that uses the internet to exchange voice messages, fax, and other types of information over IP-based networks. In fact, it is the technology-specific term that meets the need of today’s smart communication needs. The superior voice communication over LANs offered by IP telephony is unmatched. Due to its dependability, it is also regarded as the unified communications (UC) model with many beneficial features, including- enabling presence, web, video, and audio conferences, and free calls across the data network. Even for remote workers, IP telephony increases communication. It is no longer required to travel with a business phone with prepaid service. The IP telephony enables remote employees to access their network from anywhere as long as there is an internet connection. Therefore, It genuinely enhances connectivity in other businesses stations, cities, or even countries.
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Previously, the organization used a separate legacy access system for voice and data applications, with the device having a single communication application tied to a dedicated infrastructure. At the start of 2000, the number of employees in enterprises started increasing, resulting in an increased demand for better communication. Investments were made by unified communication service provider companies to integrate all voice, video, and chat tools on a single platform, that is, mobile devices and desktops. After 2000, the integration of multiple applications on one platform became possible, which set up single interface to integrate various multimedia communication apps on a unified infrastructure. Currently, the UCaaS solutions of unified communication and collaboration is helping employees by providing more effective contact management, better problem resolution, increased responsiveness through own devices, enhanced mobility, accelerated collaboration, and reduced travel and travel expense.
Unique Features in the Unified Communication and Collaboration (UCC) Market
Users can have smooth communication experiences using UCC platforms since they combine many communication technologies including email, instant messaging, voice calling, video conferencing, and presence indications into a single, cohesive interface.
Improved productivity and less message overload are achieved with UCC solutions’ unified messaging features, which let users view and handle voicemails, emails, and other messages from a single inbox.
The presence awareness capabilities on UCC systems let users to check if their peers are available for communication and collaboration. These features display a user’s availability and status in real-time.
By letting users to use communication and collaboration tools from any device, anywhere, and at any time, UCC solutions encourage mobility and enable remote work, flexible work schedules, and productivity while on the go.
In order to facilitate smooth data interchange and collaboration within the framework of corporate operations, UCC platforms link with business applications like CRM systems, project management tools, and productivity suites.
Major Highlights of the Unified Communication and Collaboration (UCC) Market
The increasing global acceptance of UCC solutions across numerous industries and sectors is propelling the market’s quick expansion.
Smooth communication experiences are offered by UCC platforms, which combine numerous communication methods like email, instant messaging, video conferencing, phone calling, and presence indications into a single, cohesive interface.
Mobility assistance is provided by UCC solutions, which let users access communication and collaboration tools whenever they want, from any location, on any device. This makes remote work and productivity possible while on the road.
Cloud-based UCC solutions are gaining traction in the industry because they provide scalability, flexibility, and accessibility for managing communication and collaboration among dispersed teams and locations.
In order to facilitate smooth data interchange and collaboration within the framework of corporate operations, UCC platforms link with business applications like CRM systems, project management tools, and productivity suites.
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Top Key Companies in the Unified Communication and Collaboration (UCC) Market
Some of the major unified communication and collaboration market vendors are Zoom (US), Cisco (US), Microsoft (US), Avaya Inc. (US), Fuze (US), Google (US), Goto (US), RingCentral (US), Verizon (US), BT (UK), Dialpad (US), Orange S.A. (France), StarBlue (Ireland), Windstream Holdings (US), Revation Systems (US), 8X8 Inc. (US), Vonage Holdings (US), Star2Star Communications (US), Zoho (India), NEC Corporation (Japan), Platronics (US), and Mitel (Canada).
RingCentral is a key provider of unified communications and collaboration solutions. It provides an open platform that integrates leading business apps, thereby offering customers the flexibility to customize their workflows. The company’s products include RingCentral MVP, a communication solution that enables users to communicate through messages, video, and phone. Another product offered by the company is RingCentral Glip, a high-quality video and audio-conferencing solution integrated with features such as team messaging, file sharing, contact, task, and calendar management. The company provides products, such as cloud phones, team messaging, online meetings, and online fax. It serves small businesses and large enterprises. It offers Private Branch Exchange (PBX) features, such as multiple extensions; Call control; Outlook, Salesforce, Google Docs, DropBox, and Box integration; SMS; video conferencing and web conferencing; fax; auto-receptionist; call logs; and rule-based call routing and answering. The company serves multiple industries, such as healthcare, real estate, retail, technology, banking and insurance, education, construction, and automotive.
Alcatel-Lucent Enterprise is a provider of enterprise networking, communications, and services. Alcatel-Lucent’s solutions are tailored to their customers’ industries providing built-in security and limited environmental impact. Alcatel-Lucent offers flexible business models: in the cloud, on-premises, and hybrid. The company caters solutions to more than 830,00 customers around the world and provides solution to several industries such as healthcare, education, hospitality, government, and transportation.
Communications Platform as a Service (CPaaS) is a cloud technology that allows users to integrate real-time communications into their existing business applications without complex engineering, whatever the business or size. The CPaaS solution offers an interoperable ecosystem across channels to make their employees more productive and their customers feel nurtured. It bridges communications between humans, objects, and processes, enabling faster, easier, and more secure digital engagement for their business. OXO Connect is a new generation of robust, connected, and converged communication platforms, entirely dedicated to small and medium-sized businesses. OpenTouch Multimedia Services is used to bring unified communications, including messaging, multimedia collaboration, and employee mobility to an OmniPCX Enterprise business phone system. The Rainbow business communication solutions offer user-friendly collaboration tools from voice to video, that connect people, machines, and processes.
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