Virtual PBX Featured Article

Unified Communications Market to Grow to $385B by 2030

May 13, 2022

By Greg Tavarez - Virtual PBX Editor

The global unified communications market, estimated at $89.58 billion in 2021, is expected to hit around $385.21 billion by 2030 and expand growth at a compound annual growth rate of 18% from 2022 to 2030, according to Precedence Research.

Communications has grown increasingly complex, particularly with the growth of mobile workforces and, more recently, the significant increase in remote and hybrid workforces.  UC solutions simplify communications and drive productivity across all workforce and business models. In particular, the increased dependence upon mobile devices has driven interest in UC solutions, with communications tools able to be easily accessed on any device.

Similarly, messaging utilization has grown, also owing in large part to smartphone use. Messaging solutions allow workers to instantly communicate and engage with colleagues and customers easily and through a medium recognized and used by nearly everyone.

Expanding government initiatives and actions for the deployment of unified communications platforms across various industries are credited to the growth of the global unified communications market. The government is working with players and organizations in the industry, attempting to raise market awareness of unified communications.

Europe is the single largest region for the UC market with 36% revenue share in 2021, followed by North America, APAC, and LAC.  Technological advancements and the use of digital platforms across industry verticals also are offering new potential for the worldwide UC market to thrive, with APAC expected to be the fastest growing region. E-learning and distance learning are fueling demand for UC solutions in APAC.

Concerns and challenges are coming with the growth, however.

There are rising worries about data security and privacy, which are impeding the worldwide UC market's expansion. The data generated and stored during UC interactions is confidential in nature, and larger organizations, in particular, are concerned about privacy and security across their UC systems.

Despite that, the market continues to grow as business continue to understand and leverage the benefits of UC solutions to drive engagement and productivity in their operations.

For the latest in business communications and technology tools, solutions, and strategies that are re-shaping how businesses operate and communicate, join the conversation at ITEXPO 2022, taking place in Ft. Lauderdale, Florida, June 21-24, 2022.  Part of the #TECHSUPERSHOW, ITEXPO combines four days of educational conference programming with a robust exhibit hall, networking events, and other activities, bringing together buyers and providers or business technology products and services.  Along with ITEXPO, #TECHSUPERSHOW includes MSP Expo, IoT Evolution Expo, Future of Work Expo, The Blockchain Event, and more.

Edited by Erik Linask



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