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Allied Market Research

Business Communication Systems Market by Platform (Telephony, Collaboration, Unified Messaging, Conferencing, and Services & Tools), Deployment Model (On-premise, Cloud/Unified Communications as a Service (UcaaS), and Hybrid), Application (IT & Telecom, BFSI, Public Sector, Retail, Healthcare, Education, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027

A08847
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Jun 2021 | 375 Views
 
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COVID-19

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Business communication systems are the means by which enterprises pass on the information, which can be for the general public and customers internally, among employees, or externally. Email help and/or phone are the most common type of a communication network. More efficient business communication platforms come with support for instant messaging, video conferencing, and internet-based audio transmission. Artificial Intelligence (AI) integration with UC technologies has significantly helped companies reach their digital transformation goal. New generations of business users are preferring more interactive and visual collaboration forms available on the devices and interfaces of their choice, anywhere, anytime. Companies are investing in best-of - breed, standard-based technologies that can be tightly optimized for greater end-user efficiency and more effective IT management to ensure higher ROI and future-proof their technology investments.

COVID-19 scenarioAnalysis:

  • Global business communication systems market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
  • Global factories have struggled to integrate new business communication systems as workers have stayed in their homes, which disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for business communication systems are gradually going to increase. 
  • This COVID-19 lockdown would help companies think about more advanced business communication systems to enhance efficiency.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Rise in penetration of smartphones and large-scale investments by telecom players to modernize communication network infrastructure are expected to facilitate consistent market growth. A widespread global network of 4G connectivity and ongoing investments for rapid adoption of 5G networks is expected to contribute towards the growth of business communication systems.

The global business communications systems market trends are as follows:

Telephony and conferences to contribute for the highest market share

During the forecast period, the telephony and conference segment is expected to be the most required business communications system platforms. Global vendors are offering telephony and conferencing as the main product due to a growing demand among small and medium-sized enterprises (SMEs), as these solutions enable them to streamline their business communication and increase productivity. This is due to the extensive use of IP phones to offer capability of real-time communication between enterprises. IP phones serve as multimedia endpoints for bringing capabilities, such as video applications and voice to data, providing better business relationships, enhancing competitive edge, employee satisfaction, and improved communication. The solutions also allow increased employee innovation and faster problem-solving capabilities.

Conversational commerce to move to voice during the forecast period

Messaging apps such as Facebook Messenger, Whatsapp, and WeChat all have billions of users around the world. These applications are easily the most used on smartphones. The way people interact with their peers, families and brands has definitely revolutionized it. Brands seem to be easily catching on the trend and moving parts of their communication to these messaging apps. Conversational commerce is about using these apps to deliver exactly what customers want. Telephone calls and messaging will be included in the business app itself, without affecting "personal space" of the customers.

Owing to the growing rivalry, customer support is something that differentiates a brand from the rest. This makes it extremely important for brands to introduce the latest technology, systems and people to best serve their customers. Cisco Systems, Inc.; Microsoft Corporation; IBM Corporation; and NEC Corporation are some of the prominent companies operating in the industry. These industry players are providing numerous cloud-based solutions in line with the increasing demand for flexible office spaces, such as voice and video conferencing, instant messaging (IM), and data management, which can help workers exchange and access information remotely.

Key segments covered:

Segments

Subsegments

  Platform

  • Telephony
  • Collaboration
  • Unified Messaging
  • Conferencing
  • Services and Tools

  Deployment Model

  • On-premise
  • Cloud/UcaaS
  • Hybrid

  Application

  • BFSI
  • Healthcare
  • IT & Telecom
  • Public Sector
  • Retail
  • Others

Key benefits of the report:

  • This study presents the analytical depiction of the global business communication systems industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the globalbusiness communication systems market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global business communication systems market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global business communication systems market analysis based on competitive intensity and how the competition will take shape in coming years.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value (USD)

  Segments covered

  Offering, Type, End User, and Region

  Regions covered

North America (Canada, Mexico, and U.S.), Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), and LAMEA (Africa, Latin America, and Middle East)

 Companies covered

Major players analyzed areAastra, Alcatel-Lucent, At&T, Cisco, Connect solutions, Hewlett-Packard, IBM, Microsoft, Siemens Enterprise Communications, Verizon Communications

Questions answered in thebusiness communication systemsmarket research report:

  • Which are the leading market players active in the business communication systems market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the business communications systems market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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