MarketsandMarkets Eyes Unified Communications Growth

Research firm MarketsandMarkets has vcalued the global unified communications and collaboration market at $76.7 billion and expects it to grow to $141.6 billion by 2027, expanding at a compound annual growth rate of 13 percent.

UCC types and services are rapidly gaining acceptance globally by large enterprises as well as small and medium enterprises due to various benefits, including streamlining their need for employee communication and collaboration. The presence of many UCC providers has made the market competitive. Many emerging players providing niche and differentiated offerings for target customers have come to the forefront.

By vertical, IT and telecom is expected to grow at the highest CAGR of 14.5 percent. The majority of telecom vendors, such as Google, Microsoft, and Zoom, are offering unified communication and collaboration (UCC) solutions, including UCC, enterprise telephony, and telepresence. Most IT and telecommunication organizations are widely adopting bring-your-own-device strategies, which is expected to contribute to the growth of the UCC market in this vertical.

Among technologies, the IP telephony is expected to grow from $31.1 billion in 2022 to $65.8 billion by 2027, at a CAGR of 16.2 percent.

Some of the major unified communication and collaboration (UCC) vendors identified in the report are Zoom, Cisco, Microsoft, Avaya, Fuze, Google, Goto, RingCentral, Verizon, BT, Dialpad, Orange, StarBlue, Windstream Holdings, Alcatel-Lucent Enterprise, Intrado, NTT Communications, Masergy Communications, Revation Systems, 8X8, Vonage Holdings, Star2Star Communications, Zoho, NEC, Platronics, and Mitel.