A recent study by Hexa Research reveals that increasing enterprise and workforce mobility will be important factors leading global unified communications market to attain revenues of more than $75.50 billion by 2020.
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Rising penetration of smartphones will also augment demand for unified communication products. Many organizations, large and small, across the globe are encouraging practices such as Bring Your Own Device (BYOD), necessitating reliable unified communication solutions. However, huge capital investments and challenges linked to seamless operation across varied platforms are possible inhibitors for the growth of unified communications industry.
Hexa Research divides all unified communications products into on premise and cloud-based or hosted. While on premise segment was responsible for more than 59% of the total demand in 2013, on premise or hosted products are likely to grow rapidly by 2020. On premise products are riddled with disadvantages like high set up and maintenance costs. Government, healthcare and education applications hold potential for growth of global unified communications industry. However, enterprise applications not only assumed leadership position in 2013 but are also expected to continue market dominance in the near future. Enterprises of all sizes are engaged in employment of infrastructure that will be able to support unified communication services.
Hexa Research identifies North America as a key regional market of the global unified communications industry as it contributed to more than 34% of the total market share in 2013. This region hosts a number of leading operators. Also, BYOD is a popular work feature here. Considerable savings in costs and rising demand for effective communication and collaboration products are factors that will result in rapid growth of Europe and Asia Pacific in the coming years.
Leading players in the global unified communications market include Avaya, Inc., IBM, Cisco Systems, Verizon Communications, Alcatel Lucent, NEC, etc. Hexa Research found that Cisco enjoyed a dominant market position with solutions that ensure consistency across various devices. The unified communications industry is characterized by consolidation by way of alliances and acquisitions.
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