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Unified Communication and Collaboration Market Growing at a CAGR 13.6% | Key Player Logmein, Ringcentral, Verizon, Dialpad, Starblue

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Unified Communication and Collaboration Market Growing at a CAGR 13.6% | Key Player Logmein, Ringcentral, Verizon, Dialpad, Starblue

September 13
23:07 2021
Google (US), Zoom (US), Cisco (US), Microsoft (US), Avaya (US), Fuze (US), LogMeIn (US), RingCentral (US), Verizon (US), BT (UK), Dialpad (US), Orange S.A. (France), StarBlue (Ireland), Windstream Intellectual Property Services (US), and Alcatel-Lucent Enterprise(France).
Unified Communication and Collaboration Market with COVID-19 Impact Analysis, by Component (Types (UCaaS, IP Telephony, and Video Conferencing Systems) and Services), Vertical, Organization Size, Deployment Mode, and Region – Global Forecast to 2026

The Unified Communication and Collaboration Market Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.6 % during the forecast period, to reach USD 127.5 billion by 2026 from USD 67.4 billion in 2021. Increased digitalization during COVID 19, increased demand of UCaaS from both large enterprises and SMEs and growing trends of mobility and BYOD are expected to spur the demand for UCC offerings across the globe.

 Adoption of IP Telephony segment is noticeably increasing due to increased employee work quality

IP telephony refers to any phone system that uses an internet connection to send and receive voice data. Unlike a regular telephone that uses landlines to transmit analog signals, IP phones connect to the internet via a router and modem. Voice and data integration is possible by implementing IP phone systems on the IP data network. The management costs are reduced by having a single point of management. IP video telephony has been changing the way communications are being made, which brings the value of video to telephony and vice versa. IP video telephony can be achieved by providing interactive video over an IP network that converges voice, video, and data traffic all over a common path. IP video telephony gives choices and controls over how to communicate, what methods to communicate, and when to communicate via telephone or video and voice. By using remote access tools, IP video telephony gives choices on where to communicate, which gives employees the ability to work anywhere at any time, increasing employees work quality and efficiency plus the added flexibility of IP video telephony can offer lifestyle benefits to employees.

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Growing need for professional, comprehensive UC managed services has increased as it has alleviated the workload placed on IT, all while ensuring business continuity and customer communications.

The UC managed services segment holds the largest share in the UCC market. The UC managed services are fully transparent, co-managed services for on-premises or cloud UC infrastructure, designed to improve productivity, efficiency, and customer satisfaction. The need for professional, comprehensive UC managed services has increased as it has alleviated the workload placed on IT, all while ensuring business continuity and customer communications. UC managed services offering is a fully transparent co-managed relationship where the team becomes an integral part. UC managed services are a comprehensive suite of secure industry-proven IP solutions that has been providing IP telephony to more companies than any other.

The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Google, Zoom, Cisco, Microsoft, Avaya, Fuze and LogMeIn have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the UCC Market.

Google is consistently focusing on catering to its customers with highly competent technology-enabled and tailored solutions in the UCC market to hold one of the leading positions. The company is equally focused on organic and inorganic business growth strategies to strengthen its footprint in the UCC market. In terms of organic growth strategies, the company introduced many UCC solution which has strengthened its market. For instance, in January 2020, Google has launched a new mobile application, which offers functions of several standalone apps, including Gmail and Drive. It will also include Hangouts Meet, Google’s video conferencing app, and Hangouts Chat.

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Zoom is consistently focusing on catering to its customers with highly competent technology-enabled and tailored solutions in the UCC market to hold one of the leading positions. The company is equally focused on organic and inorganic business growth strategies to strengthen its footprint in the UCC market. The company has primarily built its suite organically and inorganically. Zoom has many education, healthcare, finance and government customers and it enables them to deliver high-quality, on-demand services at a rapid pace to their customers. Zoom has invested heavily in building out its global presence and network, which has made it one of the biggest UCaaS providers in terms of coverage. Zoom Phone Cloud services is spread in more than 40 countries and territories, ensuring fast and reliable access.

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