Global Unified Communications Market Size, Industry Growth and Outlook to 2024: Hexa Reports

Hexa Reports

Market Research Reports and Insightful Company Profiles

Unified Communications Market Analysis, Share and Size,

Industry Trends, Growth, Overview And Segment Forecasts

To 2024

The global unified communications market size is expected to reach USD 143.49 billion by 2024,

according to a new report by Grand View Research, Inc. The substantial growth prospects of the unified

communications market can be attributed to the rapid international expansion of organizations and an

increasing need for real-time and efficient communication systems that enhance the interorganizational exchange of information.

Favorable government and institutional initiatives worldwide supporting the introduction of UC

deployment across various industry sectors are expected to positively impact the market over the

forecast period.

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Organizations across various industry verticals are adopting various tools and strategies in order to

optimize processes, decrease operational costs, improve efficiency and increase productivity. Unified

communication solutions enable real-time communications within as well as outside of the organization

thereby enabling the elimination of delays and speeding up of business processes.

However, high initial costs for such solutions and interoperability issues are presumed to challenge the

industry growth over the next eight years. In the U.S., ambiguous VoIP related regulations by the FCC

may affect the industry dynamics in the coming years.

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Further key findings from the report suggest:

On-premise UC solutions accounted for nearly 60% of the overall market share in 2015 owing to the

ease of customization and control they offer. Moreover, such solutions bring in a sense of security

within the organization as critical business infrastructure resides in-house curtailing on security...