ID: MRFR/ICT/5818-HCR | 100 Pages | Author: Ankit Gupta | May 2023
Global mobile unified communication and collaboration market is growing at a CAGR of 39.80% for the forecast period of 2022 to 2030
The Global mobile unified communication and collaboration market is growing at a CAGR of 39.80% for the forecast period of 2022 to 2030. In a fast-growing digital world, the popularity and acceptance of unified communication and collaboration (UC & C) solutions are obvious. The changing nature of the global corporate and official workforce culture has a primary role to play behind the success of the global UC & C market. Several large, small, and medium enterprises are consistent and loyal end-users of the technology. The efficiency of this solution is the main USP behind its acceptance.
The mobile unified communication and collaboration (MCU & C) technology is a dedicated solution to create an advanced and holistic communication format for the public, private, or business enterprises. In this technology, the users can make good use of the digital and internet networks to create greater communication and collaboration system between each other. From a small start-up to a giant corporation, a wide range of workforces are benefiting from the latest UC technology. The growing trend of bringing your device (BYOD) into the workforce is creating scopes for the UC & C solutions to make use of a huge number of diverse and connected devices under one secure network platform.
The COVID-19 pandemic has arrived all of a sudden on the verge of a massive change in the etch industry. Innovations and technological advancements were brutally interrupted due to the emergence of the pandemic, as the other industries suffered too. The effects of the pandemic on the MUC and C market are not entirely straightforward. Since major and almost all countries went into lockdowns during the attacks of the infectious virus, the global economy faced historic negative growth in almost all developed countries. This is caused by the shutdown of manufacturing, distribution, and retailing of consumer goods and products.
The economic status of the countries had a bad effect on investments in the technological, IT, and telecommunication industries. Several markets went back three to five years back due to the hit of the lockdowns. On the other hand, due to physical distancing measures, a large section of the corporate workforce operated the business from remote locations or homes. This worldwide trend has almost tripled digital usage in the workplace in the last year. According to mobile unified communication and collaboration market trends, the emergence of COVID-19 can be a major factor behind a boom in the future market.
The affinity towards digital communication in the workplace is one of the major drivers of the global market. The capabilities of the UC & C technology is enhancing the workflow of present-day business by a lot via advanced and effective communication between the clients and employees. The enterprises can create a centralized board or system to assemble all the working activity under one live-update network. The mobile unified communication and collaboration market is facing acceptance due to the multifaceted capabilities of the technology. Real-time virtual unified communication is more effective than previous modes of digital connecting systems.
The approach behind UC & C technology has two primary components, i.e., communication and collaboration. Enhanced VolP (voice over internet protocol), video conferencing, live chat, etc features enable team members to connect and collaborate from remote locations. These features are a major attraction for the end-users to increase the productivity and communication between team members and employees in an organization.
The possibilities of the UC & C technology are huge in the coming years due to the upcoming innovations in the communication and technological industries. There are recent developments in the fields of the internet of things (IoT), artificial intelligence (AI), etc, which are going to create new avenues for the mobile unified communication and collaboration business. There are increasing numbers of mobile and IoT devices everywhere in the world. This trend will be complemented further with the emergence of 5G network technology in the field. Various new technologies like virtual reality (VR) will be used in workplaces for creating virtual meets and enhanced virtual experiences from remote locations.
These facilities are going to create a massive demand for UC & C technologies also. The demand for increasing digital devices will prompt the mobile unified communication and collaboration market growth further. New technologies and mobile devices are going to change the work culture of present-day corporations and private limited SMEs in the coming future.
The technology is running much faster than the end-user markets in the present world. Several parts of the global market are still unprepared to adopt the UC & C technology. The mobile unified communication and collaboration market analysis suggests that the existing older formats of communication are restricting the growth of the present market. In several developing countries, SMEs have a slower adopter rate of the new technology. Due to budget constraints and reducing overhead costs, a large section of the market is not being able to change the existing hardware and communication systems for their enterprises. This problem is creating obstacles in the field of UC & C market growth.
Also, a bigger issue about the MCU and C market is, there is a lack of awareness and technological knowledge between a large section of the potential end-users. The users must learn the features and capabilities of the UC technology, to generate productive usage through the solutions. This lack of technological knowledge is a major issue in front of the global market.
Although, the technology is new and efficient, there are certain challenges associated with the market. For instance, increased data generation via IoT and cloud medium will emphasize the demand for larger storage and operating servers. The necessity of the future operational servers will be huge and very expensive. The market has to make the necessary arrangements to use the capabilities of advanced UC & C technologies effectively. The mobile unified communication and collaboration industry relies on the adoption of new technologies between the users. Using the UC & C technology is indeed cost-effective at the operational level, it is still cost-baring at the installation and maintenance level.
Smaller enterprises will have to increase the budget to use the customized or subscribed versions of the available solutions. The functionality of these solutions in various devices is a challenge for the vendors as well. Different devices have separate system requirements and there is no uniformity for the MUC technology yet. Without standardization, the market will face challenges to grow at the desired pace.
The mobile unified communication and collaboration market analysis shows optimistic data for the future growth of the system. The market recorded a net valuation of USD 25.42 billion in 2017. Currently, the market is growing at a CAGR of 11.3% for the forecast period of 2020 to 2027. By the end of the forecast period, the market is expected to reach USD 47 billion.
Technology manufacturers are the primary vendors of the MCU and C market. The distribution channel involves strategic partnerships between corporations, third-party service providers, contractual participation between market players, etc. The end-users receive the services in the form of on-premise systems and internet-based solutions.
Based on solutions, services, end-user organization types, industry verticals, etc, there are different mobile unified communication and collaboration market segments.
Segments based on solution
Segments based on services
Segments based on organization size
Segments based on industry verticals
Segments based on regions
The North American regions hold the largest share in the global MCU and C market. The US and Canada have a dominating presence in the market due to the advancements in cloud technology in these countries. The fast adoption of mobile devices is a leading trend in APAC countries. The APAC region is expected to be the fastest-growing market in the coming future.
The top mobile unified communication and collaboration market players are –
The report contains insights into the mobile unified communication and collaboration market growth, trends, forecast, etc.
|Market Size||USD 155.40 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Solution, Size|
|Geographies Covered||North America, Europe, Aisa Pacific|
|Key Vendors||Microsoft Corporation (US) Siemens AG (Germany) IBM Corporation (US) Cisco Systems (US) NEC Corporation (Japan) Telefonaktiebolaget LM Ericsson (Sweden) Mitel Networks Corporation (Canada) Genband LLC (US)|
|Key Market Opportunities||The possibilities of the UC & C technology are huge in the coming years due to the upcoming innovations in the communication and technological industries.|
|Key Market Drivers||The affinity towards digital communication in the workplace is one of the major drivers of the global market.|
The lack of proper infrastructure in certain regions is expected to limit growth.
The increase in demand for individual telephony and voice solutions is estimated to create a considerable effect on the market.
The revenue of USD 155.40 Billion is expected to be achieved billion in 2030.
Level 3 Communications (US), Vodafone Group Plc (UK), Daegis Inc (US), Tata Group (India), Verizon Communications Inc (US), Blue Jeans Network Inc (US) and Comcast Corporation (US) are the notable contenders in the market.
The existence of strong players in the region is expected to strengthen the North American region’s position in the market.
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