Corporate Telephony Market Overview
Corporate telephony refers to the transmission of information through electronic means, which may include laptops, desktop, mobile phones, landline phones, and fax machines. The transmission can be in the form of voice or through fax, to enhance communication among people, enabling them to make sound decision for organization’s growth. It mainly focusses on scalable solutions by providing desktop and mobile phone functionality, which support session initiation protocol (SIP) for better communication solutions. The various technologies used incorporate telephony industry include IP-PBX, KTS, and WPBX. The application areas of corporate telephony include IT, BFSI, IT, government, retail, healthcare, and manufacturing.
Corporate telephony market is witnessing a steady growth with the evolution in IP-PBX technology and is gaining widespread adoption in large and, small and medium enterprises (SMEs). Small and medium enterprises are highly price sensitive and value products that can drastically cut down the operating cost of an enterprise. Large enterprises are putting emphasis on IP based telephony to streamline communication across multiple locations.
Corporate telephony market in IT accounts for the largest revenue. IT industry and BFSI are investing heavily in corporate telephony to provide an effective flow of communication among employees for smooth workflow. The market in healthcare is expected to show a robust growth during the forecast period, as healthcare institutes are adopting latest technology for communication to share details of chronic diseases among health professionals working across geographies.
Corporate Telephony Market Dynamics
The increasing investment in corporate telephony by IT and BFSI is one of the major prime growth factors driving the corporate telephony market. It also makes a major impact in government process, as it enhances the working efficiency of officials and staff by providing effective communication for better services in a timely manner.
The growing need for unified communication in enterprises is one of the major factors driving the corporate telephony market. Use of corporate telephony facilitates communication with organizations to increase the productivity of employees. Unified communication is also used to provide emergency services and act as auto attendant for incoming calls. It offers increased mobility and flexibility with reduced operating cost, which is leading to the adoption of corporate telephony in enterprises. IT organizations are looking for solutions that can provide communication within specific budget, leading to widespread adoption of unified communication.
Corporate Telephony Market Competitive Landscape
The global corporate telephony market is observing a downtrend as many businesses have been switching to cloud based solutions. Instead of implementing technologies within organizations, they are now opting for solutions that are hosted by third-party providers. The market is growing at a notable pace, which leads to moderate intensity of rivalry. Key market players such as Cisco Systems Inc., NEC Corporation, Microsoft Corporation, and IBM Corporation seek to gain market share through continuous innovations in communication technology. Some of the other key players operating in the market are Avaya, Mitel, Unify, Toshiba Corporation, Interactive Intelligence, and Siemens AG.
Key competitors are specifically focusing on North-America and Europe regions for the expansion of corporate telephony market, as these regions show a strong tendency to adopt the communication technology in coming years.