Unified Communication Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

The unified communication market consists revenues earned by entities by providing services such as voice and video calling, instant messaging, presence information, email and voicemail integration, and conferencing. The market value includes the value of related goods sold by the service provider or included within the service offering. The unified communication market also includes sales of IP phones, headsets, webcams, video conferencing systems, UC servers, and network infrastructure. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast

The unified communication (UC) market size has grown rapidly in recent years. It will grow from $67.06 billion in 2023 to $79.06 billion in 2024 at a compound annual growth rate (CAGR) of 17.7%. The growth in the historic period can be attributed to rising demand for greater control and customization of communication infrastructure, rising demand for organizations to transform their business models, rising adoption of unified communication solutions, increasing demand for enterprise mobility, and rise in social business integration.

The unified communication (UC) market size is expected to see rapid growth in the next few years. It will grow to $152.99 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to growing digital transformations, rising demand for unified communications as a service (UCAAS), increasing demand for cloud-based solution, rising demand for video conferencing for better communication, and growing digital transformation initiatives. Major trends in the forecast period include adoption of advanced technologies, advancements in artificial intelligence, rising demand for real time and remote collaboration tools, increasing demand for mobility and BYOD, and increasing implementation of digital transformation.

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Segmentation & Regional Insights

The unified communication market covered in this report is segmented –

1) By Component: Hardware, Software, Services
2) By Organization: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By Application: Enterprises, Education, Government, Healthcare, Other Applications

North America was the largest region in the unified communication (UC) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the unified communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing digital transformation is expected to propel the growth of the unified communication market going forward. Digital transformation refers to incorporating digital technologies throughout an organization, leading to significant shifts in its operations and how it provides value to customers. The growing digital transformation is attributed to integrating digital technologies into all business areas, fundamentally changing how organizations operate and deliver customer value. Unified Communication (UC) helps digital transformation by integrating various communication tools into a single platform, enhancing collaboration and productivity, enabling remote work, and improving customer interactions through streamlined and efficient communication channels. For instance, in May 2023, the Ministry of Business, Innovation and Employment, a New Zealand-based government agency, the New Zealand digital technologies sector contributed approximately $7 billion to the (gross domestic product) GDP in 2021, with an impressive annual growth rate of 10.4%. Therefore, the growing digital transformation is driving the unified communication market.

Key Industry Players

Major companies operating in the unified communication market are Microsoft Corporation, Verizon Communications Inc., Comcast Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., International Business Machines Corp., Cisco Systems Inc., Oracle Corporation, HP Development Company L.P., NEC Corporation, Lumen Technologies, Windstream Intellectual Property Services LLC, Zoom Video Communications Inc., Citrix Systems Inc., Avaya LLC, Tata Communications, RingCentral Inc., Genesys, ALE International, Vonage Holdings Corp., Mitel Networks Corp., GoTo Technologies USA Inc., 8×8 Inc., Dialpad Inc.

The unified communication market report table of contents includes:

1. Executive Summary
2. Unified Communication Market Characteristics
3. Unified Communication Market Trends And Strategies
4. Unified Communication Market – Macro Economic Scenario
5. Global Unified Communication Market Size and Growth
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32. Global Unified Communication Market Competitive Benchmarking
33. Global Unified Communication Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Unified Communication Market
35. Unified Communication Market Future Outlook and Potential Analysis
36. Appendix