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Report: Buoyant Market Projected for UC Market

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Report: Buoyant Market Projected for UC Market


August 20, 2010

By Mini Swamy, TMCnet Contributor

Global Industry Analysts Inc., is a publisher of off-the-shelf market research and publishes more than 1200 full-scale research reports each year. Announcing the release of a comprehensive global report on Unified Communications (News - Alert) market, it has projected that by the year 2015, market for the Unified Communications products will approximately reach US $16.8 billion.

The report titled “Unified Communications: A Global Market Report” announced by Global Industry Analysts, Inc., provides a review of market trends, growth drivers and challenges, and also other industry activity. It offers market estimates and projections for product segments, and also offers market estimates and projections for Unified Communications services market across service segments

Analyzing the factors that have contributed to the growth and adoption of the technology, global Industry analysts found that superior speed of communication, dissolution of communication barriers, faster communication response time, and flexibility had all played roles in driving growth. All this was rendered possible because of the convergence of all forms of communication such as, voice, video data, instant messaging, audio and video Web conferencing on a common platform.

Given the fact that modernization and retaining the competitive edge were essential to companies, critical survival capabilities such as agility and flexibility surfaced, providing opportunities for Unified communications, or UC, to flourish.

The report indicates that UC with its unrivaled networking advantage would optimally aggregate voice, video and data onto a single IP network platform. With its continuing connectivity and enhancing cutting edge competitive advantages, adoption in the Enterprise market was inevitable.

Such a dynamic market environment would result in synergistic benefits as companies moved from divergence to convergence, spurring competition in the marketplace.

The prolonged world economic recession, the report says has hit even developed countries very hard, and no amount of innovation and cost cutting could really buoy even the enterprise market, which had remarkable success earlier. The tough economic conditions in 2008 and 2009 saw a slump in the growth rate.

Major factors that had retarded growth was the lack of strong budgets to fund equipment upgradation and replacement. UC's hosted services helped UC save face at least partially, by cushioning the impact to some extent. The current scenario is bright and indicated to be positive, as a reviving economy will bring in its wake a revival of demand for UCs, and drive revenue gains in the market in the upcoming years.

Audio, Web conferencing, and the role played by social media will all become enhanced and more effective because of adoption of UC.

Global Industry Analysts Inc. was founded in 1987, and the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Mini Swamy is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.

Edited by Ed Silverstein

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