UC Market Set to Hit $88 Billion
Infonetics Research is forecasting positive growth trends in the coming years for the Unified Communications (UC) market.
In its 2014 VoIP and UC Services and Subscribers report, Infonetics forecasts that by 2018, VoIP services
revenue will hit $88 billion. In contrast, for 2013, Infonetics reported that the global market for VoIP services brought in $68 billion in revenue, an eight percent gain over 2012.
A number of drivers contribute to the continued growth of VoIP services and UC. One of them is subscriber growth.
Infonetics reported that the number of residential VoIP subscribers worldwide grew by eight percent in 2013, totaling 212 million consumers.
On the business end, UC and hosted PBX service revenues are also growing. According to Infonetics, there was a 13 percent year-over-year gain in revenue in 2013 for hosted PBX and UC services.
"Business VoIP services have moved well beyond early stages to mainstream, strengthened by the growing adoption of SIP trunking and cloud services worldwide," Diane Myers, principal analyst for VoIP, UC, and IMS at Infonetics Research, said in a statement. "Hosted unified communications are seeing strong interest upmarket as mid-market and larger enterprises evaluate and move more applications to the cloud, and this is positively impacting the market.”
In a separate report from Infonetics on the fourth quarter 2013 enterprise telepresence and video conferencing equipment market, the revenue growth trend is also positive. According to the report, in 2013, global enterprise telepresence and video conferencing pulled in $3.2 billion for a five percent year-over-year gain.
Looking forward, Infonetics forecasts a compound annual growth rate (CAGR) of three percent from 2013 to 2018 for global telepresence and videoconferencing revenues.
"Demand for video capabilities is at an all-time high, but businesses' willingness to spend isn't, causing a shift from high-end telepresence suites and multipurpose room systems to lower-cost software and videophones for personal videoconferencing," Matthias Machowinski, directing analyst for enterprise networks and video at Infonetics Research, said in a statement. "This, along with lower selling prices due to competition, is hampering a more robust recovery in the videoconferencing market."
Sean Michael Kerner is a senior editor at Enterprise Networking Planet and InternetNews.com. Follow him on Twitter @TechJournalist.