Technology

The unified communication and collaboration market is projected to grow by USD 95.4 million from 2024-2028, with AI driving market evolution and rising demand for video and voice conferencing – Technavio

Published

3 hours ago

September 24, 2024

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Unified Communication and Collaboration Market size is estimated to grow by USD 95.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 18.51% during the forecast period. growing demand for video and voice conferencing is driving market growth, with a trend towards increasing adoption of byod concept However, data privacy and security concerns poses a challenge – Key market players include 8×8 Inc., AT and T Inc., Atos SE, Avaya LLC, BT Group Plc, Cisco Systems Inc., GoTo, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intrado Life and Safety Inc., Microsoft Corp., Mitel Networks Corp., NEC Corp., Nippon Telegraph and Telephone Corp., RingCentral Inc., SANGOMA TECHNOLOGIES CORP., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Vonage Holdings Corp., Zoho Corp. Pvt. Ltd., and Zoom Video Communications Inc..

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Unified Communication And Collaboration Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 18.51%

Market growth 2024-2028

USD 95.4 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.15

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 34%

Key countries

US, China, UK, Germany, and Japan

Key companies profiled

8×8 Inc., AT and T Inc., Atos SE, Avaya LLC, BT Group Plc, Cisco Systems Inc., GoTo, Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intrado Life and Safety Inc., Microsoft Corp., Mitel Networks Corp., NEC Corp., Nippon Telegraph and Telephone Corp., RingCentral Inc., SANGOMA TECHNOLOGIES CORP., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Vonage Holdings Corp., Zoho Corp. Pvt. Ltd., and Zoom Video Communications Inc.

Market Driver

The Bring Your Own Device (BYOD) trend in workplaces is gaining popularity, with approximately one-third of employers worldwide providing devices for their staff, while over half encourage employees to use their own devices. New Unified Communication and Collaboration (UCC) technologies enable professional interactions and workflows across various remote devices. As BYOD increases the diversity of devices used for communication and collaboration, UCC platforms’ ability to offer high-quality experiences on all devices is a significant factor in their growing popularity. UCC solutions adapt to the frame rate and resolution of devices, ensuring seamless experiences. The compatibility of UCC and BYOD, along with their shared goals of reducing costs and increasing flexibility, will fuel the market’s growth during the forecast period.

Unified Communication and Collaboration (UCC) market trends reveal a shift towards cost-effective, cloud-based solutions for businesses. Voicemail and telephony services are being replaced by software-based communications, including virtual collaboration tools like video conferencing and instant messaging. Healthcare providers and contact centers are adopting UCC for improved business continuity and customer experience. IT budgets favor cloud services, with retailers leveraging centralized data services, RFID technology, and proximity technology for an omnichannel customer experience. PBX systems are being upgraded with cloud technology, lowering IT costs. VR and innovation in communication tools, such as device recognition and authentication mechanisms, enhance user experience. Sales and customer service tools are becoming essential, with video conferencing and instant messaging streamlining communication across telephone, computer, and social media.

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Market Challenges

Cloud-based Unified Communication and Collaboration (UCC) solutions have gained popularity among businesses due to their cost-effectiveness and ease of accessibility. Government agencies, including federal, state, and local, have also adopted cloud solutions for improved information management with centralized data storage and high-speed networks. The benefits of cloud UCC include simplified software maintenance and upgrades, low upfront costs, effective security, high reliability, and integrative capabilities. However, concerns over data security and privacy issues persist, particularly for organizations dealing with sensitive or classified information. Despite these concerns, the market for cloud UCC is expected to grow due to its ability to enhance productivity, enable data sharing, and bridge functional gaps in existing systems and processes. Organizations will continue to evaluate the reliability and security of cloud solutions before making the transition.Unified Communication and Collaboration (UCC) market is growing rapidly, with video conferencing and instant messaging leading the way. Retailers, especially clothing and online stores, are embracing UCC to enhance sales and improve customer experience. Centralized Data Services, such as RFID and proximity technology, integrated with UCC, enable real-time access to customer information at checkout lines. However, challenges persist. Network performance is crucial for video conferencing and instant messaging. Lowering costs and ensuring security are key concerns. Retailers must choose between public and private cloud models for UCC. Devices and authentication mechanisms must be recognized for seamless user experience. UCC tools, including telephone and computer, should be omnichannel, integrating with the Internet, social media, and innovative communication tools. UCC technologies, including UCC, are transforming the retail sector, enabling businesses to offer personalized customer service and streamline operations. The future lies in the cloud model, with public resources and private models offering different benefits to various industries, including consumer electronics and digital content.

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Segment Overview

This unified communication and collaboration market report extensively covers market segmentation by

Application 1.1 Enterprise collaboration1.2 Enterprise telephony1.3 Contact centerEnd-user 2.1 Enterprise2.2 GovernmentGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Enterprise collaboration- Unified Communication and Collaboration (UCC) market is witnessing significant growth as Small and Medium Enterprises (SMEs) increasingly adopt enterprise and consumer technology solutions to support communication and collaboration among employees, suppliers, and clients. These solutions, which include e-mail, unified messaging, calendaring, instant messaging, mobile UC, and voicemail, are economical, simple to deploy, and powerful. Companies are integrating collaborative applications like e-mail and voicemail/unified messaging for tighter business process automation. Technavio anticipates the integration of specific collaborative applications, such as e-mail, calendaring, and social media, with business processes to continue. UCC services are categorized into four major components: conferencing services, contact center applications, e-mail messaging, and wireless collaboration applications. Conferencing services, including audio, video, and web conferencing services, account for the largest market share due to their cost-effectiveness as alternatives to front-to-front communication. The growth of the wireless collaboration application segment is driven by the increasing demand for enterprise mobility due to the Bring Your Own Device (BYOD) policy. E-mail messaging continues to witness steady growth due to its cost-effectiveness and security. The popularity of cloud-based Business Process Platforms (CEBPs) is encouraging businesses to consider UCC as a means to improve existing business processes.

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Research Analysis

The Unified Communication and Collaboration (UCC) market is experiencing significant growth due to the increasing demand for efficient technology solutions that enable seamless communication and collaboration between teams and organizations. Voicemail and telephony services are essential components of UCC, but the market goes beyond this with a collaboration stack that includes software-based communications, business continuity, and cost-effective cloud-based solutions. Healthcare providers and healthcare contact centers are embracing UCC technology to improve patient care and streamline operations. IT budgets are shifting towards cloud services, such as Centralized Data Services, to reduce IT costs. The retail sector is also adopting UCC solutions, integrating RFID technology and proximity technology into checkout lines and using customer service tools with device recognition for personalized interactions. Virtual Reality (VR) is an emerging trend in UCC, offering immersive collaboration experiences. PBX systems are being replaced with more flexible and scalable UCC solutions.

Market Research Overview

The Unified Communication and Collaboration (UCC) market encompasses a range of technologies that enable seamless, real-time communication and collaboration between individuals and teams. These technologies include voicemail, telephony services, and software-based communications like instant messaging, virtual collaboration tools, and video conferencing. With the increasing focus on cost-effective solutions, cloud-based services have gained popularity among businesses, particularly in sectors like healthcare and retail. Healthcare providers are adopting UCC solutions for patient care and contact centers, while retailers leverage these technologies for sales and customer service. The collaboration stack includes centralized data services, RFID technology, and proximity technology, enhancing the checkout line experience and enabling omnichannel communication. UCC technologies lower IT costs by integrating telephone, computer, and social media into a unified system. Innovative communication tools like VR and device recognition add to the user experience, while network performance and business continuity ensure reliability. UCC solutions provide a cost-effective alternative to traditional PBX systems, making them a valuable investment for businesses of all sizes and industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationEnterprise CollaborationEnterprise TelephonyContact CenterEnd-userEnterpriseGovernmentGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Nuvve Updates Shareholders on Compliance Measures

Published

2 mins ago

September 25, 2024

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ — Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq’s Bid Price Rule.

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting “no loan” status.

For shareholder letter: https://nuvve.com/shareholder-letter/

For more information, contact investors@nuvve.com.

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com

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SOURCE Nuvve Holding Corp.

Technology

Wire and tube industry expos to spark international trade in Shanghai

Published

2 mins ago

September 25, 2024

SHANGHAI, Sept. 25, 2024 /PRNewswire/ — The wire China 2024 and Tube China 2024, organized by Shanghai Electric Cable Research Institute Co., Ltd., Messe Düsseldorf (Shanghai) Co., Ltd., Metallurgical Council of the China Council for the Promotion of Int’l Trade (MC-CCPIT), are scheduled to be held from September 25 to 28 at the Shanghai New International Expo Centre, aiming to drive industry advancement and foster connections.

This year, the two expos will span 10 pavilions, encompassing a total exhibition area of 109,250 square meters. Nearly 1,500 businesses from about 30 countries and regions are expected to participate. The two exhibitions will cover the entire industry chain of cables, wires and tubes, offering a professional and efficient one-stop platform for exchanges worldwide.

wire China 2024: supporting enterprises to foster new quality productive forces

The wire China 2024 event is poised to occupy an area of 80,500 sqm, setting a milestone in its growth trajectory. With the participation of nearly 1,100 enterprises from 26 countries and regions, the expo will serve as a platform to showcase the latest developments and trends in the industry.

The exhibition will showcase an array of offerings including wire and cable manufacturing and processing machinery, auxiliary cable processing equipment, raw and auxiliary materials for cables (optical cables), finished wire products and cables, measurement and control technology, testing engineering solutions. The showcase is designed to assist enterprises in accelerating their transition toward digitalization, fostering flexibility, enabling smart production, nurturing new quality productive forces and enhancing the production competitiveness of businesses. The 2024 edition will cover five major areas: Digital Intelligent & Innovative Equipment, Technology Tools & Auxiliary Materials, Green and Low-carbon Solutions, Wires & Cables and Measures & Control Technology.

China has been promoting development of new quality productive forces since the start of 2024, with burgeoning sectors like artificial intelligence; new materials; commercial aerospace; the low-altitude economy and smart connected vehicles. These innovations are infusing the wire industry with vitality and drawing the attention of numerous overseas enterprises to China. This year, the event will host businesses from countries and regions such as South Korea, Japan, the United States, Switzerland, the United Kingdom, Spain and Turkiye. Business delegations from Germany, Italy, France and Austria will be present at the W1 Pavilion to exhibit their innovations and latest breakthroughs.

Heavyweight participants

This year, the event has garnered robust backing from prominent industry associations, including the Asian Wire & Cable Industry Corporation Alliance (AWCCA); Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK); the Association of the German Trade Fair Industry (AUMA); the German Mechanical Engineering Industry Association (VDMA); the ITA/ICE-Italian Trade Agency (ITA); the Italian Wire Machinery Manufacturers Association (ACIMAF) and the Austrian Federal Economic Chamber (WKÖ).

List of some well-known participating brands:

NIEHOFF, WAFIOS, SIKORA, MAILLEFER, ROSENDAHL NEXTROM, BOROUGE, SAMP, PROTON, ELANTAS, ENEOS NUC, HANWHA, TOTOKU, KOS, MFL GROUP, TEIJIN ARAMID, ZUMBACH, EUROLLS, SWPG, ESTEVES, SHENG CHYEAN, PETROFER, HUNTSMAN, DSR, SMATER, SINGCHEER, HONTA, G.Y.M., HANDING, JCDOFAMA, XINGMING, GOLDEN TECHNOLOGIES , INOVANCE, DONY GROUP, LIQIANG MECHANICAL & ELECTRICAL, AEROSPACE NANHAI, YI TENG ELECTRIC, HUAYUAN, PANGHAO, WANMA MACROMOLECULE, TIANRONG, CGN GROUP, CABLE, ORIGINAL, PAMICA, QLPM, ATPOIMER, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Fostering new quality productive forces

Centering on digital intelligence and innovation, the expo will be a key platform to display products and services. Singcheer will introduce the SiMOM for remote collaborative manufacturing operations and an AGV logistics system tailored for the cable industry. Maillefer from Finland will showcase the latest AI panoramic scanner 2.0, while Inovance from Shenzhen will present a motorized cable extrusion solution using advanced control algorithms and the MD810 multi-drive. These digital intelligence and innovation products cover manufacturing equipment, industrial software, visual inspection and other specific businesses, empowering cable companies to transit toward intelligent manufacturing.

Leading new trends

The wire China 2024 is not just a trade platform, but a place to communicate the latest market trends and release new products and solutions. This year, there will be nearly 60 high-end technological communication events.

The annual China Wire and Cable Industry Annual Conference will have in-depth discussions on new quality productive forces and high-quality development. Participants will share opinions on new market opportunities and challenges, exchange insights on the market trends, analyze the development status of the wire and cable industry, release annual reports on the development of international and domestic cable standardization work, as well as business competitiveness analysis reports. Simultaneously, the conference will address quality and technical issues related to typical products, unveil significant common technical research accomplishments and identify challenges and hurdles in emerging technological domains within the cable industry. The event aims to inspire businesses, bolster their confidence, foster courage in confronting challenges, and contribute to enhancing the development standards of both the industry chain and the supply chain.

The themed forums for wire and cable businesses will cover industrial economics and the development of the cable industry; the role of intelligent equipment in supporting high-quality development; green and low-carbon innovations in cable materials; high-quality special materials aiding the development of new energy vehicles; efficient and energy-saving electrical equipment; cable industry resource recycling technologies and digital intelligence empowering the development of the cable manufacturing industry.

Tube China 2024: 20 years of companionship, jointly shaping the new future of the industry.

As one of leading professional expos for tubes in Asia, Tube China 2024 has a total exhibition area of 28,750 sqm. Nearly 400 brands from 13 countries and regions including Germany, Japan, South Korea, Italy, the Netherlands, Latvia, Norway, Switzerland, and the United Kingdom will participate in the event. Tube China will present a high-level industry feast of intelligence and tube manufacturing for the Chinese tube industry and its upstream and downstream sectors.

This year, the expo will welcome some first-time participants including Fanuc. Industry-leading players including Fanuc, IPG, Kinkelder, Stark, Inductotherm, SINOAUDE, Halifax Fan and ENRX will bring their latest developments to the event. Enterprises such as IPG, Changen, Longxin, Huibaisheng and Huinengda will focus on showcasing innovative products and applications related to lasers and optoelectronics; optics and optical manufacturing; testing and quality control; as well as the innovative products and application solutions of infrared technology and applications.

List of some well-known participating brands:

FANUC, IPG, KINKELDER, STARK, INDUCTOTHERM, SINOAUDE, HALIFAX FAN, ENRX, HUIBAISHENG, SINOFORM, CHANGEN, HANDUK, KTM, TOYOKOHAN, TAELIM, VICTAULIC-TUWEI, TEMA, DONGAN, FIELD, AMPCO, ARES, JINYI, SONGYANG STAINLESS STEEL INDUSTRY ASSOCIATION, CHENLONG, ZHONGYONG, CHANGFENG, WAN-RUN DA , BOKENA, TUS PIPE, LONGXIN, NANYANG, CONTOR M & E, SHENGTIAN, NEW VICTOR, HUAYANG, HUILITONG, BAOFENG, JINCHUANG XINTIAN, HAIQIANWEI, FUGANG, ASCENDING, JUYI, LIWAN, VICTORY, ZHONGHAO, YOUFA, etc..

(*Information is updated as of August 31st, 2024. Listing is in no particular order)

Concurrent events, including the China International Steel Tube & Pipe Summit and the 2024 Heat Treatment Technology Seminar, will be organized during the expo to enhance communication, foster partnerships, drive technological innovation and uphold high-quality development within the industry.

A variety of activities will be organized to celebrate the 20th anniversary of the annual expo and the longstanding support from all participants of the expo.

Looking ahead, organizers of wire & Tube China will continue to promote development of the event to promote exchanges and bolster quality development of the industry.

View original content:https://www.prnewswire.com/apac/news-releases/wire-and-tube-industry-expos-to-spark-international-trade-in-shanghai-302255418.html

SOURCE Messe Düsseldorf Shanghai

Technology

PayMongo and Brankas Now Offer the Widest Range of Payment Options in the Philippines

Published

2 mins ago

September 25, 2024

Enable seamless, secure, and direct online banking payments with Brankas through PayMongo, featuring top Philippine banks BDO, Metrobank, and Landbank.

MANILA, Philippines, Sept. 25, 2024 /PRNewswire/ — PayMongo has partnered with Brankas to add new payment options to the PayMongo platform, making it the payment gateway with the widest range of payment options for Filipino businesses. PayMongo payment options include credit cards, e-wallets, BNPL, QRPh, and online banking. PayMongo merchants can now accept direct online banking payments from three additional Philippine banks — BDO, Metrobank, and Landbank — offering greater convenience and flexibility for both merchants and customers.

eCommerce stores, food delivery websites, ride-hailing apps, and gaming platforms that are PayMongo merchants can accept more forms of payments by integrating Brankas Direct API. This pay-by-bank channel is another trusted payment method that makes transactions faster and enhances the overall payment experience for users.

“Brankas and PayMongo share the same commitment to deliver fast and secure payment experience for users. Offering more payment options is a win-win for both customers and merchants as we offer greater payment flexibility and customer reach at the same time.” said Todd Schweitzer, Brankas CEO and Co-founder.

How to Get Started with Brankas Direct

To start accepting direct online banking payments, existing PayMongo merchants simply need to contact PayMongo Customer Support to request the activation of BDO, Metrobank, and Landbank payment options. The feature is available for Shopify plug-in users, PayMongo’s Custom & Checkout API, PayMongo Pages, and PayMongo Links. Users of the custom API require minimal updates, and the PayMongo developer website provides the full details.

Ready to enhance your payment offerings and provide a better customer experience? Enable Brankas Direct through PayMongo now. Visit Brankas Direct or PayMongo to learn more.

About PayMongo

PayMongo is a leading financial infrastructure platform in the Philippines, designed to simplify how businesses manage their finances. From payment processing to embedding financial services, PayMongo provides solutions that enable businesses to accept payments both online and in-person, streamline financial operations, and drive profitability. By offering a wide range of payment options and seamless integration, PayMongo empowers businesses to grow their revenue and succeed in the digital economy.

About Brankas

Brankas is a leading global open finance technology provider. We provide API-based solutions, data and payments solutions for financial service providers (like banks, lenders and e-wallets) and online businesses. Brankas partners with banks to build and manage their open finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure open banking technology, online businesses, fintech companies and digital banks can use Brankas APIs to create new digital experiences for their users.

Media Enquiries:

Yiyang Teo
yiyang.teo@brank.as

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SOURCE Brankas