Grand View Research: A Buoyant Unified Communication in the Offering
Organizations the world over are looking for ways to reduce cost without compromising on efficiency and productivity. Unified communications (UC) is bringing with it a whiff of fresh air that promises to give them what they want. Is it surprising then that Grand View Research, Inc., a market research and consulting company, forecasts an upward trend for this market?
With the increasing penetration of mobile devices, the growth of unified communication as a service, uptake in enterprise mobility and increasing adoption of BYOD, the global UC market is simmering with enthusiasm and is all set to take a gigantic leap.
The study estimates that the global UC market will reach $ 75.81 billion by 2020, and notes that North America will continue to maintain its lead with more than one third of market share. In Europe and Asia-pacific, strong growth will be triggered by the need for effective communication and collaboration, while developing economies like India and China will see favorable demand.
Although on-premise UC accounted for over 60 percent of the market share in 2013, the cloud-based and hosted segment is expected to catch up and perhaps even overrun on-premise solutions. Companies are becoming aware of the many benefits of the cloud: easier maintenance, reduction in capital expenditure and savings that it’s likely to generate, and it’s only a question of time before they decide to at least partly move their applications to the cloud.
In the application segment, enterprises are expected to dominate the market in the next years and will account for the largest share in the global UC market. Unified communication enables enterprises to have better customer engagement, connected employees and better operational agility. Some sectors, such as government, education and healthcare show much promise for UC.
Competition is keen as key industry participants and major players in the global UC market are engaging in turf wars and trying to differentiate themselves in as many ways possible to decide leadership.
While UC does afford great opportunities, it’s not as if it’s a bed of roses. There are challenges as companies struggle to learn how best they can leverage UC. A high initial investment is needed, interoperability across various UC platform are restraining, not to mention the exposures to security risk and business resilience.
However, UC is too strong a concept for it to give in without a fight; in time the creases will be ironed- there’s a whole new world waiting out there.
Edited by Adam Brandt