The Voice over Internet Protocol (VoIP) market is expected to grow from USD 23.90 billion in 2019 to USD 55.25 billion by 2025 at a CAGR of 12.72% from 2020 to 2026.
The VoIP market development is qualified to factors such as efforts taken by government agencies & private companies for the development of the wireless communications infrastructure and the improved adoption of cloud-based VoIP services owing to cost-efficiency. Businesses with poor communication infrastructure face issues such as low audio quality and long delays that can adversely impression their productivity. Thus, they migrate from traditional phone systems to cloud-based phone systems, which are handmade to handle voice mails & calls to enable smooth communication. As technology supports voice & video communications over the internet, enterprises are widely using such solutions to allow high business performance through a more reliable and routable calling services & condensed maintenance. Additional factor leading to VoIP market demand is the increasing trend of workforce mobility. By deploying VoIP solutions, enterprises can improve communication and collaborations among employees and remote users to rise business productivity.
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The global Voice over Internet Protocol (VoIP) market has been segmented as below:
By Industry Vertical
Education
Transportation
Media And Entertainment
Military And Defence
Others
Healthcare
BFSI
Retail
Hospitality
Government
By User Type
SMBs
Large Enterprises
Individual Consumers
By Medium
Fixed
Mobile
By Type
Domestic VoIP Calls Interactive Assessments
International VoIP Calls
By Access Type
Computer To Phone
Computer To Computer
Phone To Phone
By Region
North America
Europe
Asia-Pacific
Rest of the World
Competitive Rivalry
Microsoft Corporation (Skype), Vonage Holdings Corp., InPhonex LLC, Sprint Corporation, Nextiva, Inc., 8×8, Inc., Viber Media S.r.l, RingCentral, Inc., iNet Telecom Ltd., and others are among the major players in the global Voice over Internet Protocol (VoIP) market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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