Dover, DE, May 17, 2016 (GLOBE NEWSWIRE) -- Unified Communications Market size is forecast to reach USD 96.0 billion by 2023; as per a new research report by Global Market Insights, Inc.
Rising adoption of mobile devices is expected to propel demand over the forecast period. The total mobile subscriptions by 2023 are forecast to exceed 9.5 billion, with smartphones leading growth and overall mobile data traffic. While developed markets of the U.S. and Europe will continue witnessing steady demand, smartphone subscriptions will largely be driven by Asia Pacific.
Steady proliferation of hosted products will be one of the key unified communications market trends, with over USD 14 billion in revenue for 2015, and expected to surpass USD 49 billion by 2023. This product eliminates infrastructure cost and offers a centralized management system wherein services are provided by means of the cloud.
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Unified Communications as a Service (UCaaS) market technologies include telephony, enterprise messaging and presence technology, video conferencing and online meetings. UCaaS provides flexibility and scalability along with high availability for core business tasks. Implementation in business has been augmented owing to numerous advantages such as cost-effectiveness, pay as per the need and requirement, and reduction of travelling time. It has also eliminated the limitation of synchronous operations of geographically dispersed units.
The government sector has witnessed increased adoption of UC systems to cater the needs of citizens pertaining to public safety and permit processing. These solutions help governments to effectively deal with emergencies and crisis conferencing. This latest unified communications market research report analyzes revenue from this segment to exceed USD 20 billion by 2023.
Moreover, implementation of these systems also helps governments to respond to citizen needs, while reducing the infrastructure costs. Further, they help enhance productivity by streamlining communication processes, automating manual processes, and consolidating communication applications.
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Cloud computing has been increasingly adopted by service providers owing to the flexibility it offers coupled with cost-effectiveness. Cloud-based UC applications allow organizations to eliminate capital spending and adopt an operational cost model for which they have to pay only on the basis of the required capacity.
Additionally, the enhancement in cloud technology has resulted in it being able to offer solutions at par with the on-site solutions. Increased demand for real-time communication has resulted in vendors stressing upon providing Web RTC solutions, which are expected to facilitate faster video streaming and group chats in client devices.
Bring Your Own Device (BYOD) signifies the connection of personal devices including tablets, notebooks, PCs and smartphones to an organization’s vertical’s network. This helps the employees to gain admission to the network through their own devices. This provides a number of operational as well as financial benefits. Global BYOD market size is projected to surpass USD 365 billion by 2023.
The lack of interoperability amongst the different platforms is expected to adversely affect unified communications market growth. Customers find it difficult to choose components from numerous vendors as interoperability becomes a key issue owing to the lack of compatibility between components and software.
To access sample pages or view this report titled, “Unified Communications (UC) Market Size By Application (Education, Enterprise, Healthcare, Government), By Product (Hosted/Unified Communications as a Service (UCaaS), On-Premise), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 - 2023” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/industry-analysis/unified-communications-market
Key insights from the report include:
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Global Market Insights has segmented the unified communications market on the basis of product, application, and region:
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.