Market Trends of Enterprise Communication Infrastructure Industry
This section covers the major market trends shaping the Enterprise Communication Infrastructure Market according to our research experts:
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.
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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.
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