Communication plays a pivotal role in any business. There are tens of hundreds of telecommunication methods, devices, and (more recently) apps available in front of businesses to streamline, manage, and organize varied communication channels. However, the need for data convergence is still somewhat floating, without any surefire solution. While convergence of data is reflected in a business’s telecommunications, unified communications (UC) promises to fix the issue and bring out the best communication leading to an exceptional customer experience.
A significant number of businesses are including UC in their B2B telecommunications, with an aim to achieve a business that has its operations streamlined. Leading UC solution providers are increasingly striving to develop custom solutions for businesses with a particular set of requirements. With more enterprises embracing ‘Cloud as a Service’ (CaaS) Model, penetration of unified communications technology is expected to witness brisk growth during the next decade. Similarly, an ever-growing mobile workforce repeatedly emphasizes the need for a more flexible and more agile business communication model. UC is likely to see a rapidly growing market in near future.
Unified B2B Telecommunication Services Evidently Gaining Higher Traction
Businesses that have already opted for B2B telecommunication services have the ability to choose a suitable solution meeting a set of business requirements. Currently, cloud-based services hold a major market share of around 50%. However, promising emergence of unified B2B telecommunications has been resulting in a significant revenue drop for cloud-based telecommunication services. The adoption of unified B2B telecommunication and collaboration services is projected to surge within the next decade and by the end of 2026, global revenues generated by the unified B2B telecommunications segment are anticipated to exceed a value of US$ 25 Bn. Consequently, the demand for WAN solutions, VoIP services, and M2M communications will also increase in near future.
In a bid to achieve operational efficiency, several industrial verticals are increasingly adopting ITaaS (IT-as-a-service). With a growing demand for ITaaS model in the B2B environment, incorporation of B2B telecommunications also explores a wider scope. A recently conducted market research by Future Market Insights indicates that the global consumption of B2B telecommunication services will be largely concentrated at two key sectors, viz. BFSI and media & entertainment. Over the next decade, the US$ 30 Bn global B2B telecommunications market is expected to exceed a value of US$ 107 Bn. Over 2016-2026, the global market for B2B telecommunications will possibly witness a healthy CAGR of over 13.5%. Although BFSI will remain the leading end-use sector in the global B2B telecommunications market, the revenues from media & entertainment industry are likely to surge at a significantly higher rate over the next decade.
The Future of UC
A quick view to the future of unified communications market offers a bundle of multiple trends that will hold a strong impact on the market. One of the most vital trends includes consistently increasing adoption of UC by the SME sector. Another trend highlights faster uptake by the Asian and European regional markets. Furthermore, as the implementation of UC within an array of verticals will increase significantly, the technology will continue to evolve and encounter with several innovations during the next decade. UC integration will improve at a substantial rate, according to Future Market Insights. Surging adoption of UC by media & entertainment industry will primarily fuel the growth of the entire B2B telecommunications market.
For more insights into the growth of unified communications within the B2B telecommunications market, Future Market Insights’ detailed market report excerpts are available at http://www.futuremarketinsights.com/reports/b2b-telecommunication-market