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Unified Communications and Collaboration Market to Surpass USD 100 Billion by 2028

Strategic Insights

— 1 min read

The global unified communications and collaboration (UCC) market is expected to witness significant growth, driven by the increasing adoption of remote working, business-to-business (B2B) communication trends, and the use of cloud-based solutions. According to a research study by Global Market Insights Inc., the market is projected to surpass USD 100 billion by 2028, with the Asia-Pacific (APAC) region expected to grow exponentially due to the increasing adoption of cloud-based UCC solutions and favorable government initiatives.

Key Takeaways:

  • The growing popularity of bring-your-own-device (BYOD) trends is proliferating the industry demand for UCC solutions.
  • Conferencing is expected to gain a significant market share during the forecast period, driven by the need to connect multiple users on a single call and save time.
  • On-premises solutions are projected to grow exponentially, driven by the growing demand for UCC solutions among large enterprises, which prefer the complete software and hardware service control.
  • The BFSI application segment is anticipated to witness a market share of over 25% in 2028, driven by the increasing need to provide improved customer experiences.
  • Major players operating in the unified communications and collaboration market are 8x8 Inc., Alcatel Lucent Enterprise (Nokia Networks), Avaya Inc. (Avaya Holdings Corporation), BT Group, Cisco Systems Inc., Genesys (Permira), Google LLC, Huawei Technologies Co., Ltd., Microsoft Corporation, Mitel Networks Corporation, NEC Corporation, Nextiva (UnitedWeb), Orange Business Services (Orange), RingCentral Inc., SELBYVILLE, Del., and others.

Statistics:

  • The unified communications and collaboration market is expected to surpass USD 100 billion by 2028.
  • The Asia-Pacific (APAC) region is expected to grow exponentially, attributed to the increasing adoption of cloud-based UCC solutions and favorable government initiatives.
  • Conferencing is expected to gain a significant market share during the forecast period, driven by the need to connect multiple users on a single call and save time.
  • On-premises solutions are projected to grow exponentially, driven by the growing demand for UCC solutions among large enterprises.
  • The BFSI application segment is anticipated to witness a market share of over 25% in 2028.

Sources:

  • Global Market Insights Inc. (2022) [ Source ]
  • Global Market Insights Inc. Research Study (2022) [ Source ]
  • Atos and Damovo Partnership (2020) [ Source ]
  • 8x8 Inc. Launch of Integrated CCaaS and UCaaS Products (2021) [ Source ]
  • Global Market Insights Inc. Press Release (2022) [ Source ]

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