Enterprise Communication Infrastructure Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Posted May 14, 2021 by Statzyreports

The enterprise communication infrastructure market is expected to register a CAGR of 17.53% during the forecast period, 2021 - 2026.
The growing need to upgrade outdated IT communication infrastructure is also motivating many organizations to invest in the enterprise's communication infrastructure market.

- According to the Spiceworks’ 2019 State of IT, 89% of companies surveyed expect their IT budgets to grow or remain considerable in 2019. Additionally, 56% of companies with more than 5,000 employees reported that they were expecting their IT budgets to increase in 2019.

- The primary driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial.

- Another prominent trend in the market aiding the growth of enterprise communication infrastructure is the increasing rate of smartphone penetration, owing to the increasing BYOD policies.

- Adoption of cloud services also continues to influence enterprise spending. Cloud-based solutions are also helping organizations in creating a more effective unified platform for internal and external communication. The growing adoption of cloud services, especially among SMEs, is also promoting the further development of the market.

- However, the growing data security concerns, as well as poor IT infrastructure, especially in the developing regions, are some of the factors restraining the market growth.

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Key Market Trends

Retail Segment has Significant Share in the Market

- With the growing multi-channel retail, over which customers and employees communicate, enterprise communications have the potential to not only enhance the overall customer experience, but also deliver significant cost-savings and flexibility leveraging competitive advantage.

- With the explosion in the use of technology by multi-channel retailers, enterprise communication infrastructure enables the integration of new and emerging technologies, including interactive kiosks, electronic signage, multimedia, geo-positioning, and fly vision.

- Companies that outshine in engaging customers across channels, including web, mobile, social media, and in-store, retain twice as many customers than without effective cross channel customer care strategies. This drives retailers for omnichannel communication adoption, as they can give an omnichannel experience to the customers.

- To design a multi-dimensional and satisfying shopping experience for the customer, corporate executives, field managers, and store employees need access to a broad range of products and organizational information.

- For instance, Aberdeen Group Inc. in a study found that companies with the most robust omnichannel strategies retain 89% of customers than 33% with weaker omnichannel strategies. Customers use two or more devices while making a purchase.

North America to Hold the Largest Market Share

- North America is expected to dominate the global enterprise communication infrastructure market, as it is one of the early adopters of the technology. It is also because most of the major players in the market are US-based. The cloud adoption among the regional end-user is also quite high. Hence, the investment in the studied market is too high.

- Many of the market vendors in the region are also investing in innovating additional and unique features to their offering, in order to gain a competitive advantage, as well as to expand their customer target base.

- For instance, Google is trying to expand its reach into enterprise communications launching its Google Contact Center AI and Google Voice at Google Next 2018. The company’s Google Contact Center AI will enhance, strengthen, and accelerate a variety of customer engagement solutions with Google's AI capabilities. Its Google Voice will help the business, by making Google-hosted telephony available to G Suite subscribers.

- In 2019, the US-based company, IntelePeer, a Communications-Platform-as-a-Service (CPaaS) provider, launched Atmosphere SmartFlows, a visual workflow builder, and Atmosphere Engage, a communications management application. This is also expected to bring advancement in the regional and global market, which expands the market scope further.

Competitive Landscape

The enterprise communication infrastructure market is highly fragmented, due to the presence of a large number of players in the market. Some of the key players in the market include Cisco, IBM, and Microsoft, among others. Some key recent developments in the market include:

- May 2019 - Mitel and Avaya planned to merge to be the largest enterprise communication infrastructure company.

- May 2019 - Appswarm and deep sky mobile and AI tech Ventura announced infrastructure for its voice over internet protocol communication service for its business and residential customers.

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Issued By Statzy Market Research
Country India
Categories Technology
Tags Enterprise Communication Infrastructure Market , Enterprise Communication Infrastructure Market share , Enterprise Communication Infrastructure Market size , Enterprise Communication Infrastructure Market forecast
Last Updated May 14, 2021