India unified communications and collaboration market projects CAGR of 12% during 2017-23
6Wresearch has come up with a new report titled “India Unified Communications and Collaboration Market (2017-2023F)”. India unified communications and collaboration market is anticipated to record CAGR of 12% during 2017-23.
Unified communications (which primarily include voice, video and messaging based communications) and collaboration market in India is registering healthy growth year-over-year. India unified communications and collaboration market is buoyed by several factors such as growing demand for better communication models, increasing penetration of internet and growing awareness among several end-user industries. Growth in Small and Medium Enterprises (SMEs) and demand from various verticals are also driving the growth of the market.
Video-based unified communications segment captured highest revenue share in 2016 followed by voice, message and others. Video based unified communications including video chats and conferencing (multiparty VC, desktop VC, etc) is gaining popularity. In terms of verticals, Banking, Financial Services and Insurance (BFSI) registered highest contribution in unified communications and collaboration market, followed by education, government and public utilities and others.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, “With growing adaptation for IP-based technology, IP telephony is expected to dominate in voice-based communication market. Over the past few years, there has been continuous growth in the IP telephony segment due to factors such as flexibility, low operating expenses and portability. As far as technology is concerned, video-based communication system is gaining acceptance from several end user verticals over voice- based communication.”
According to Nikunj Shrivastava, Research Associate, Research and Consulting, 6Wresearch, “Demand for unified communication models is arriving from major verticals such as BFSI, education, healthcare, and commercial offices. BFSI being the early adopters of unified communication has highest share in the market. However, education and healthcare verticals are also posting huge potential in the market.”
Tags: India unified communications, CAGR, 6Wresearch, Unified communications, Small and Medium Enterprises, smes
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