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 -

• Vendors: 15+, 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. among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Application (Enterprise collaboration, Enterprise telephony, and Contact center), End-user (Enterprise and Government), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

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Unified communication and collaboration market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines ?

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

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

Major Drivers

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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What are the key data covered in this Unified Communication And Collaboration Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the unified communication and collaboration market  between 2023 and 2027
• Precise estimation of the unified communication and collaboration market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the unified communication and collaboration market across North America, Europe, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of unified communication and collaboration market vendors

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Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio