Global Communications & Collaboration Market Overview:
The need to simplify corporate communication functions and the growing popularity of the BOYD trend should support the growth of the unified communications and collaboration (UCC) market. As organizations rapidly expand their presence in new geographic markets, the effectiveness of synchronous and asynchronous communication functions plays a fundamental role in guaranteeing positive results in business processes. Companies are adopting UCC solutions to modernize their communications infrastructure in a unified framework. As BYOD has shown promising results in terms of increased employee productivity and significant IT cost savings for companies, these solutions further reinforce their value proposition in terms of seamless connectivity to mobile resources.
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Communications & Collaboration Market Drivers and Restraints:
The growing popularity and adoption of cloud computing is also contributing to the growth of unified communications and the collaboration market, and companies prefer cloud-based solutions to migrate their communication processes. On the other hand, the market for the conference platform is expected to register the fastest growth in the future due to the growing popularity of audio / video conferencing solutions to facilitate collaboration capabilities for meeting members in different geographical units. The conference applications have become a common place for companies that develop their business in different multinational markets. Audio conferencing solutions will dominate the conference market by 2024 due to their widespread adoption, since they are more affordable than video conferencing tools for communicating among interested parties.
Communications & Collaboration Market Geographic segmentation:
North America is expected to dominate sales by 2024 due to the availability of communications and advanced computing infrastructure in the region, particularly in the unified communications and collaboration market of the USA. In addition, mobility has experienced strong growth in North America with the accelerated proliferation of mobile devices, which has favored the adoption of technologies. The US employees are above their global counterparts in BYOD adoption, which encourages businesses to take advantage of this mobile infrastructure for collaborative functions. The Asia-Pacific market is expected to post the highest annual growth rate in a timely manner, with increasing emphasis on simplifying and reducing the costs of communication infrastructure in the region. For the users requiring enhanced meeting experience, video collaboration solutions will play an important role in the market growth.
Avaya, Mitel, Microsoft, Cisco, NEC, ALE, Huawei, Unify, RingCentral, BT, West, 8x8, Orange, Verizon, Google, NTT, Google, Star2Star and Asnet are the major players of the market among others.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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