As per estimates, Europe unified communications & collaboration (UCC) market is set to register a CAGR of 10% over 2020-2026 owing to large-scale integration of personal BYOD devices with unified communication solutions. In the present scenario, nearly 40% of the mid-sized firms across Europe have deployed unified communications for enhanced business connectivity and reliable communications. This has resulted in better team collaboration, improved project management, faster problem solving, and improved customer experience. Extensive adoption of BYOD technologies by European business corporations is supporting UCC industry growth.

Conferencing solutions provide a connection, where multiple employees communicate on the same call. The corporate sector is increasingly embracing conferencing solutions as it facilitates multiuser connectivity vital for making quick business decisions. Moreover, conferencing is an economical way of real-time information sharing, which helps in enhancing operational efficiency.

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Unified communications & collaboration (UCC) market is likely to be driven by increasing adoption of mobile devices and web-based communication solutions across enterprises.

Unified Communications and Collaboration (UCC) market is touted to cross the USD 60 billion mark by 2026.

In a bid to improve customer satisfaction, financial institutions are incorporating tools such as video conferencing and mobile messaging within their operations. Rising adoption of UCC tools to enable seamless communication process and to harness the benefits of multichannel communications externally and internally will change unified communications & collaboration (UCC) market trends in the BFSI sector.

Widespread availability of 4G network connectivity and the outpouring of investment towards commercialization of 5G networks is transforming modern enterprise communication solutions. The corporate sector is spending heavily to upgrade its existing communication network infrastructure to facilitate reliable connectivity and communication, which may favor unified communications & collaboration (UCC) market landscape.

As per estimates, around 34% of customers continue to visit banks while 36% of the customer base has switched to smartphones for transactions. The BFSI sector is further putting in efforts to attract the remaining users, who are dissatisfied with bank services. Rapid proliferation of unified communications in the banking sector to augment customer experience will supplement UCC industry share in the coming years. From the BFSI segment, unified communications & collaboration (UCC) market size is likely to grow 10% over the analysis period.

Deployment of UCC systems results in improved workforce productivity by facilitating efficient communication over organizational wireless networks or cellular networks.

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The unified communications & collaboration (UCC) market share from conferencing segment will grow at a CAGR of 10% over2020-2026. UCC service providers leverage conferencing technologies to enhance communication experience customers and personnel in business, which can be either free of cost or on a subscription basis to access services.

As the outsourcing trend gains popularity in the IT industry for certain business processes, the need for effective communication and collaboration solutions will also increase concurrently.

Depending on the requirements and convenience of participants, communication process can be successfully carried out through video/web or audio conferencing.

UCC systems aid users in the execution of business communications efficiently even when the customers are unable to reach traveling account executives or cannot effectively use a complex communication system. Adoption of web-based communication solutions and mobile devices at large in enterprise environments will create favorable conditions for unified communications & collaboration (UCC) market growth.

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