The Unified Communications Market Marches Forward
September 25, 2013
The unified communications market continues to get more than its fair share of research attention. Collaboration is such a huge market, and many are sprinting to join the race. Two recent reports paint a healthy future of the segment for the next five years.
Globally, the unified communications as-a-service (UCaaS) market will grow from $2.52 billion in 2013 to $7.62 billion by 2018 at an estimated compound annual growth rate (CAGR) of 24.8 percent during that time, according to a recent study—Unified Communications (News - Alert) as-a-service Market: Advancements, Emerging Applications, Business Models, Technology Roadmaps, Global Forecasts & Analysis—by Markets and Markets. That study found that telephony is the most used technology for now and will continue to be for the next few years.
Growth in the telephony sector is predicted to jump from $870 million this year to $2.48 billion by 2018, with an estimated CAGR of 23.3 percent during that time, the report says.
According to the Markets and Markets report, "the global UCaaS market growth is driven by the emergence of video technologyand collaboration solutions; although telephony will be the most used technology for years to come.”
The report continues, “companies across all sectors are using UCaaS, cloud based unified communications, which integrates web conferencing, video conferencing, messaging, VOIP and presence over cloud that helps to decrease front load capital cost as they are offered on a per seat basis, enabling businesses to scale communications easily and effectively."
Meanwhile, Transparency Market Research has released their own study—Unified Communications Market – Global Industry Analysis, Size, Share, Trends and Forecast, 2012-2018—which predicts a 4.2 percent growth rate in the UC market overall.
"Unified communications enables quicker execution and delivery of business processeses, which in turn aids in informed decisions being made, coupled with enhanced collaboration across organizations," the report authors wrote.
"Apart from the benefits associated with unified communications, availability of high speed broadband connectivity is another factor driving this market."
What are your thoughts on this rapid growth of unified communications? Have you considered how collaboration will assist your company? Let us know!
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Edited by Blaise McNamee