Unified Communication And Collaboration Market to grow by USD 71.06 million from 2022 to 2027 | The growing demand for video and voice conferencing drives the market -Technavio
NEW YORK, Aug. 21, 2023 /PRNewswire/ -- The unified communication and collaboration market size is estimated to grow by USD 71.06 million from 2022 to 2027 at a CAGR of 16.37% according to Technavio.
Unified Communication And Collaboration Market Insights -
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Unified communication and collaboration market - Customer Landscape
Unified communication and collaboration market - Company Insights
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including 8x8 Inc., AT and T Inc., Atos SE, Avaya Inc., BT Group Plc, Cisco Systems Inc., GoTo, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intrado Corp., Microsoft Corp., Mitel Networks Corp., NEC Corp., Nippon Telegraph and Telephone Corp., RingCentral Inc., Sangoma Technologies Corp., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Vonage Holdings Corp., Zoho Corp. Pvt. Ltd., and Zoom Video Communications Inc.
Unified Communication And Collaboration Market – Market Dynamics
The growing demand for video and voice conferencing is n notably driving the market growth. In 2020, over 50% of employees in the knowledge processing outsourcing sector utilized personal video solutions. Voice and video conferencing play a pivotal role in the IT infrastructure and corporate landscape, facilitating improved interaction and collaboration among staff, associates, and clients. UCC represents a collection of platforms enabling direct peer-to-peer connections for voice and video conferencing. Video is harnessed by more than 70% of business-to-consumer (B2C) marketers and 90% of business-to-business (B2B) marketers, serving as a catalyst for marketing efforts. The escalating demand for video and voice conferencing is propelling the adoption of UCC, a trend that will sustain market expansion during the forecast period.
Significant Trends- The increasing adoption of BYOD concept is the primary market trend.
Major Challenge - The high implementation costs are a major challenge hindering the market growth.
Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!
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The vehicle-to-everything (v2x) communication system market is estimated to grow at a CAGR of 21.8% between 2022 and 2027. The size of the market is forecast to increase by USD 18,596.75 million. This report extensively covers market segmentation by connectivity (cellular and DSRC), vehicle type (passenger and commercial), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The increasing adoption of technologically advanced mobile devices is notably driving the market growth, although factors such as data privacy and security concerns may impede the market growth.
The communication platform-as-a-service (CPaaS) market size is predicted to surge to USD 10.19 billion from 2021 to 2026 at a CAGR of 17.85%. This report further entails communication platform-as-a-service (CPaaS) market segmentations, including Component(Solutions and services) and geography(North America, Europe, APAC, South America, and Middle East and Africa). Streamlined application management is one of the key drivers supporting the communication platform-as-a-service (CPaaS) market growth.
Table of contents
Historic Market Size
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by End-user
Market Segmentation by Geography
Drivers, Challenges, and Trends
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