LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global unified communication and collaboration (UC&C) market is expected to grow at a CAGR of 12.3% during the forecast period to reach USD 48.61 billion by 2020.
This research report titled ‘Global Unified Communication and Collaboration Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on application, the report categorizes the global unified communication and collaboration market into three segments. They are:
- Enterprise collaboration
- Enterprise telephony
- Contact center
Enterprise collaboration: largest segment
In 2015, the enterprise collaboration segment led the market with more than 51% share. The segment's growth is attributed to growing adoption of mobility in UC&C, which adds to the flexibility, agility, and increased collaboration. Also, increased acceptance of BYOD has accelerated the adoption of cloud-based UC&C solutions. Added features of unified communications as a service (UCaaS), such as voicemail to text and fixed mobile convergence have improved customer experience.
“SMEs are increasingly leveraging enterprise and consumer technology solutions to support communications with customers. These solutions enhance collaboration among employees, suppliers, and clients. Also, these technologies are now less expensive, simple to deploy, and more powerful,” says Amit Sharma, a lead analyst at Technavio for research on IT professional services.
The report also states that enterprise collaboration UC&C services are further categorized into four major components: conferencing services (audio, video, and web conferencing services), email and messaging, wireless collaboration application, and CEBP. In 2015, conferencing services accounted for the largest market share. The growth stems from increased use of audio and web conferencing solutions as an alternative to the front-to-front mode of communication.
Enterprise telephony: second-largest segment
The enterprise telephony segment, with close to 39% of the market in 2015, held the second highest position. The market is driven by sectors such as banking and financials, hospitality, and transportation. Over the past three years, SMEs have also started to show an active interest in enterprise telephony solutions to reduce total cost of ownership (TCO) and telecommunication bills. However, Technavio researchers expect the segment to see a decline during the forecast period due to rise in mobile workforce globally. This has encouraged enterprises to prefer mobile workforce over enterprise telephony solutions.
Enterprise telephony vendors face challenges such as budget constraints, uncertainty in decision making, and long sales cycle. These vendors are making an effort by projecting ROI documents, highlighting faster ROI. They have introduced lucrative financial schemes to speed-up the adoption of IP telephony systems.
Contact center: third-largest segment
In 2015, the contact center segment made up the remaining 10% of the market. The segment's growth stems from the high adoption of BPA solution by companies in APAC. BPA solutions consist of video cloud-based contact center support and conferencing solutions.
Contact centers worldwide are experiencing slow growth. They are heavily dependent on the expansion by telecom operators. Cloud-based contact centers are gaining popularity across enterprises due to low initial expenditure. Emerging verticals, such as healthcare, e-commerce, and hospitality, along with traditional ones should drive future investments in contact center UC services.
“Unified communications contact centers have a single voice over Internet protocol network that supports both data and voice. This allows multiple devices to connect with each other, online directories, and voice-to-text conversion. It helps companies to save on telecommunication costs,” says Amit.
The top vendors highlighted by Technavio’s research analysts in this report are:
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