28 March 2017

Making sense of the upheaval in the UC market

Written by Christopher Liko, Posted in Contact Center, Unified Communications

As recent events have shown, there is no question that the UC market is in the midst of a rapid transformation. The market’s landscape is changing, as big players exit stage right, and new names come to the forefront. Clearly, the biggest news in the industry is Avaya’s chapter 11 bankruptcy declaration. Don’t forget that only two months before that, Genesys acquired Interactive Intelligence. This same Interactive Intelligence had seen a $41 million decrease in economic earnings over the previous 5 years after moving to the cloud. (Forbes) Earlier in the same year, Aspect Software also filed for Chapter 11 bankruptcy, emerging quickly and repositioning itself in the market as part of the process. 

Despite this apparent turmoil for some of the longest-standing companies in the industry, the cloud contact center market is expected to grow at a compound annual growth rate of 22.9% by 2022.

So where is this growth coming from? We know that many of the largest players are struggling to maintain pace in the growing cloud sector of the market.