Communications and Collaboration Market Size and Forecast (by Country, IT Solution Area, Size Band and Vertical) to 2027
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Communications and Collaboration Market Overview
The global Communications and Collaboration market was valued at US$ 284.10 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 6.47% to reach a value of US$ 388.77 billion by 2027. The cumulative revenue generation opportunities for Communications and Collaboration providers is estimated at US$ 1939.41 billion between 2022 to 2027.
Communications and Collaboration Market Outlook, 2022-2027 (US$ Billion)
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The Communications and Collaboration market opportunity forecast report provides the total addressable market for the Communications and Collaboration solutions from 2019 to 2027.
Market Size (2022) | US$ 284.10 billion |
Market Size (2027) | US$ 388.77 billion |
CAGR (2022-2027) | 6.47% |
Key Regions | · North America
· South & Central America · Western Europe · Central & Eastern Europe · Middle East & Africa · Asia Pacific |
Key Verticals | · Manufacturing
· Information Technology · Retail · Retail Banking · Insurance · Government · Construction · Transport and Logistics · Healthcare · Consumer Goods · Energy · Financial Markets · Utilities · Education · Communication · Foodservice · Travel and Leisure · Mining · Pharmaceuticals · Media · Medical Devices · Others |
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Communications and Collaboration Market Segmentation by Region
The Communications and Collaboration market is geographically segmented into North America, South & Central America, Western Europe, Central & Eastern Europe, the Middle East & Africa, and the Asia Pacific.
The Asia Pacific region dominated the Communications and Collaboration market with a revenue share of 38.3% in 2022. Undoubtedly, the China is the largest market with a market share of 51.8% in the communications and collaboration market in this region. Furthermore, North America and Western Europe held the second and third position of the market with a share of 30.5% and 18.7%, respectively.
Communications and Collaboration Market Analysis by Region, 2022 (%)
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Communications and Collaboration Market Segmentation by Vertical
Manufacturing, Information Technology, Retail, Retail Banking, Insurance, Government, Construction, Transport and Logistics, Healthcare, Consumer Goods and among others are some of the key end-use industries using Communications and Collaboration in their operations.
In terms of vertical end-use segments, the Manufacturing Sector is the largest segment with 9.8% market share, followed by the Information Technology sector. Additionally, the Communications and Collaboration market for energy sector is anticipated to be the fastest growing segment recording an estimated CAGR of 10.49% during the forecast period.
Communications and Collaboration Market Analysis by Verticals, 2022 (%)
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Communications and Collaboration Market - Competitive Landscape
The major players significantly impacting the Communications and Collaboration market are Microsoft Corporation, Cisco, IBM Corporation, 8×8, Inc and Verizon Communications among others.
Leading Communications and Collaboration Companies
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Scope
This product provides revenue opportunity forecasts in the Communications and Collaboration market from 2019 to 2027, spanning 52 geographical markets, 6 regions and 22 verticals.
Key Highlights
- The global Communications and Collaboration market is expected to grow at a CAGR of 6.47% over the forecast period.
- The global Communications and Collaboration market over the forecast period is expected to be led by Asia Pacific with a share of 38.3%, followed by North America and Western Europe with shares of 30.5% and 18.7%, respectively. The Middle East, Africa, Central and Eastern Europe, and South and Central America together are expected to account for the remaining market share of 12.5%.
Reasons to Buy
- Access the current state and expected growth (next 5 years) of the Communications and Collaboration
- Determine the most lucrative sectors for Communications and Collaboration considering their current contribution to the overall Communications and Collaboration market and their expected contribution to the growth of the market over the next 5 years.
- Identify the geographies/countries who would be the contributors to the growth of Communications and Collaboration market over the next 5 years.
Frequently asked questions
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What was the Communications and Collaboration market size in 2022?
The global Communications and Collaboration market size was estimated at US$ 284.10 billion in 2022 and is expected to reach US$ 286.44 billion in 2023.
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What is the Communications and Collaboration market growth?
The global Communications and Collaboration market is expected to grow at a compound annual growth rate of 6.47% over the forecast period to reach US$ 388.77 billion by 2027.
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Which industry vertical led the Communications and Collaboration market in 2022?
The Manufacturing sector was the largest vertical with 9.8% market share in 2022.
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Which region accounted for the largest Communications and Collaboration market share?
The Asia Pacific region dominated the Communications and Collaboration market with 38.3% market share in 2022.
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