The unified communication services market has been forecast to increase at a compound annual growth rate (CAGR) of approximately 25% over the next five years, rising from a valuation of $2.52 billion in 2013, to hit a market value of $7.62 billion by the year 2018.
Unified communication services are the integration of real-time communication services such as instant messaging (chat), presence information, telephony (including IP telephony), video conferencing, data sharing (including web connected electronic whiteboards aka IWB's or Interactive White Boards), call control and speech recognition with non-real-time communication services such as unified messaging (integrated voicemail, e-mail, SMS and fax).
Unified communication services are a highly standardised, pre-integrated, permanently updated and ready to go service that enhances a client's productivity and accelerates business processes and decision making while lowering costs.
UC is not necessarily a single product, but a set of products that provides a consistent unified user interface and user experience across multiple devices and media types.
The annual growth rate for the unified communication services market is expected to continuously rise from 2013 to 2015, as the market is still in its initial phase and gradually gaining acceptance by the industry.
The annual growth rate is expected to slow down from 2016 onwards as companies want to reduce their IT and business communication expenditure, so the next three to four years will be reflect high growth rates for the market.
Major players currently dominating the unified communication services market include Avaya, Cisco, Microsoft, Alcatel-Lucent, Siemens enterprise communications, Mitel, CSC, Panterra networks, Interactive intelligence and NEC.
For more information on the unified communication services market, see the latest research: Unified Communication Services Market
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