VoIP Services Market Improved Manageability and Protection to Boost Growth


Posted July 13, 2020 by rohit890

Voice over internet protocol (VoIP) is a group of technologies for the transfer of voice communication and multimedia sessions over internet protocol networks.

 
Market Overview

Voice over internet protocol (VoIP) is a group of technologies for the transfer of voice communication and multimedia sessions over internet protocol networks. It is a cost-effective technology to communicate with people around the globe. The technology makes use of internet as medium for digital signal propagation. The various related terms in VoIP are internet telephony, broadband telephony and IP telephony. These changes are expected to favor the market positively in near future by replacing the vertically separated networks from all IP converged Network. Furthermore, VoIP providers are introducing additional features to attract end users at both corporate and individual levels.

The global VoIP Services market is estimated to account for US$ 123.7 Bn in terms of value in 2019.

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Market Dynamics

Rise in demand for high-speed internet for commercial applications is expected to propel the global VoIP services market growth during the forecast period. Various commercial sectors such as retail, banking and finance, real estate, and others ranging between high and low revenue generation use VoIP services that are being provided by high-speed internet to reduce operational expenses. For instance, digital banking service provided by the banks with internet technology can also provide rapid changes for traditional bank to improve customer service satisfaction and cross-selling ability where commercial banks in the city offer online to offline financial service repetition. Therefore, increasing demand for high-speed internet for commercial applications is expected to drive growth of the global VoIP services market over the forecast period.

However, low-quality service due to changing latencies and dropped packets are expected to hamper growth of the global VoIP services market during the forecast period

Detailed Segmentation:

Global VoIP services Market, By Call Type:

International VoIP Call Type

Domestic VoIP calls

Global VoIP services Market, By End-Use:

Individual Use

Corporate Use

Small and Medium-sized Enterprises (SMEs)

Large Enterprises

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Key players operating in the global VoIP services market are Verizon Communications Inc., Vonage Holdings Corporation, ShoreTel, 8x8 Inc., Inphonex LLC, Nextiva Inc., Phone Power LLC, RingCentral Inc., Thinking Phone Networks, Inc., West Corporation, and Microsoft Corporation.

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Issued By coherent market insights
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Last Updated July 13, 2020