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Business Communication Systems Market

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

Report Code: A08847
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Mar 2023 | 2366 Views
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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 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.

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?

Business Communication Systems Market Report Highlights

Aspects Details
By Platform
  • Telephony
  • Collaboration
  • Unified Messaging
  • Conferencing
  • Services and Tools
By Deployment Model
  • On-premise
  • Cloud/UcaaS
  • Hybrid
By Application
  • BFSI
  • Healthcare
  • IT & Telecom
  • Public Sector
  • Retail
  • Others
By Region
  • North America  (US, Canada)
  • Europe  (France, Germany, UK, Spain, Italy, rest of Europe)
  • Asia-Pacific  (China, India, Japan, South Korea, Australia, rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Aastra, Alcatel-Lucent, At&T, Cisco, Connect solutions, Hewlett-Packard, IBM, Microsoft, Siemens Enterprise Communications, Verizon Communications

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