The Voice over Internet Protocol (VoIP) Market will hit $100


Selbyville, Delaware, Jan. 18, 2023 (GLOBE NEWSWIRE) — Global Market Insights Inc. According to a report published by Global Voice over Internet Protocol Market It was estimated to be valued at US$ 40 billion in 2022 and is expected to be valued at US$ 100 billion by 2032, advancing at a CAGR of 10% from 2023 to 2032. The report analyzes the top winning strategies, drivers and opportunities, competitive scenario in detail. , fluctuating market trends, market size, statistics and estimates and key investment pockets.

Mobile VoIP solutions are gaining in popularity as enterprise mobility becomes increasingly important to many large and small businesses worldwide. Many organizations are evolving to meet the needs of employees who travel frequently or work from home regularly. Enterprise mobility enables the use of personal laptops and mobile phones for remote work. Users usually need to download special software to make and receive VoIP calls to use this feature. Its advantages attract more users to adopt the system for business and professional purposes.

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Key Reasons for Voice over Internet Protocol Market Growth:

  • Cost benefits over circuit switched networks.
  • Growing adoption by SMEs.
  • The emergence of 5G technology.
  • The growing popularity of hosted VoIP solutions.
  • Increasing trend of mobility in enterprises.

Increasing use of PC-to-PC VoIP by businesses

From the PC-to-PC access type segment, the voice over internet protocol market is expected to witness a CAGR of 15% from 2022 to 2032. Computer-to-computer VoIP is one of the most popular access methods used by businesses. Computers running the same voice communication software, such as Skype or Facebook Messenger, are only allowed to use VoIP calling services. By simply installing softphones on computers, businesses can make free internet calls. These softphones facilitate unified communication by enabling instant, free, peer-to-peer communication within the application.

Increasing number of smartphone users to influence mobile VoIP demand

Mobile VoIP market revenue is estimated to be USD 15 billion in 2022. Mobile VoIP is a part of the technology that deals with voice-oriented services through a mobile phone. It is easily accessible by those living abroad and does not require an address associated with it. With more people traveling abroad for work or study, the demand for mobile VoIP is expected to increase. Services such as Skype and Google Voice will become more popular due to increased smartphone usage and continued investment in LTE and broadband to improve wireless telecommunications infrastructure.

Need for simplified VoIP services in BFSI sector

BFSI implementation is expected to capture approximately 15% of the VoIP market share by 2032. To facilitate convenient mobile interactions, banks and other financial institutions require efficient communication platforms that lower costs by combining voice and data services over a single channel. They are quickly moving from on-premises solutions to cloud technology to meet growing demands for mobility and collaboration. Using VoIP allows them to communicate with multiple stakeholders and customers, streamline processes and provide improved financial services.

Growing demand for affordable communication solutions in APAC

The Asia Pacific VoIP market is projected to witness a growth of 11% from 2023 to 2032, driven by the increasing number of smartphone users. More attention is being paid to improving the calling experience of smartphone users in the region. In addition, the increase in the number of internet users and start-up businesses will support the adoption of VoIP services. To manage a remote workforce, businesses in China and India are using affordable communication solutions that will contribute to the growing demand for mobile VoIP services.

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New business partnerships and acquisitions between leading VoIP companies

Some of the leading VoIP service providers worldwide are Google Inc., ZTE Corporation, AT&T Inc., Ericsson, Verizon Communications Inc. and Cisco Systems Inc. and others. Many of these companies focus on strategic partnerships and collaborations to create a better geographic footprint.

Partial sections of the table of contents (TOC):

Chapter 3 Voice over Internet Protocol (VoIP) Market Insights
3.1 Introduction
3.2 Impact of the COVID-19 Outbreak
3.3 Impact of the Russian-Ukrainian war on industry
3.4 Analysis of the industrial ecosystem
3.5 Technology and innovation landscape
3.6 Patent Analysis
3.7 Investment portfolio
3.8 News
3.9 Regulatory landscape
3.10 Forces Affecting the Industry
3.11 Growth potential analysis
3.12 Price Trend Analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
Chapter 4 The Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive Analysis of Major Market Players, 2022
4.4 Competitive Analysis of Innovative Market Games, 2022
4.5 Vendor acceptance matrix, 2022
4.6 Strategic vision matrix, 2022
Chapter 5 Voice over Internet Protocol Market, by Type
5.1 Major trends by species
5.2 Integrated Access/SIP Trunking
5.3 Managed IB ATS
5.4 Hosted IB PBX

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, USA. is a global market research and consulting service provider that offers syndicated and custom research reports along with development consulting services. Our business intelligence and industry research reports offer insightful insights and actionable market data, specially designed and presented to help clients make strategic decisions. These comprehensive reports are based on a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


        



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