Communications

Communication technology has rapidly revolutionized across the globe due to internet proliferation. Various communication mediums, such as unified communication, collaboration software, Voice Over the Internet Protocol (VoIP), and video conferencing, have been gaining popularity. The majority of enterprises have shifted from traditional communication tools, such as email and telephone, to advanced tools including collaboration software, unified communication tools, cloud telephony, and cloud-based apps. Businesses are also improving their customer approach through the integration of AI and machine learning technologies into their communication tools.

The rapid adoption of innovative communication tools across the BFSI, retail, IT & telecom, healthcare, education, and manufacturing sectors has propelled the market demand for innovative and robust communication tools. As enterprises are emphasizing their regional presence in newer geographies, the effectiveness of synchronous & asynchronous communication functions plays a vital role in ensuring a positive outcome for business processes.

Drivers:

• Growing internet penetration, surging adoption of smartphones, and proliferation of cloud computing technology have created significant opportunities for the development of innovative communication tools
• Commercialization of the next-generation 5G network has improved the overall network speed of many wireless devices, supporting the market demand for real-time communication technologies
• The BYOD trend enables enterprises to access their resources remotely. Collaboration software increases the coordination between these remotely working employees, improving their productivity.
• Growing remote workforce and migration toward packet-based networks are supporting the VoIP market growth. The availability of a robust cloud infrastructure will enable the rapid adoption of cloud-based/hosted VoIP solutions.