Global VoIP Services Market – Size, Outlook, Trends and Forecast (2024

Global VoIP Services Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Voice over IP (VoIP) is the transfer of voice and multimedia content over the Internet Protocols (IP) Networks. Technically VoIP uses IP to connect private branch exchanges (PBX’s), it’s referred to be IP Telephony. VoIP endpoints include dedicated desktop VoIP phones, softphone applications running on personal computers and mobile devices. VoIP services are much cheaper than conventional services. The comfort of portability is the main advantage of VoIP services. Irrespective of which location we are in VoIP systems can access emails while we are travelling. The flexibility in usage of VoIP as conventional phone and a VoIP converter or VoIP telephone adapter. We can conduct multi-functional operations such as making calls, video conferencing calling through VoIP phone.

Global VoIP Services Market Report Segments Size & Growth:

VoIP Market size is projected to reach approximately USD 193.1 Billion by the end of 2024 with a CAGR of close to 9.38% from USD 93.75 Billion in 2017 during the forecast timeline 2018-2024. Increase in traffic by the hybrid cloud communications in small and medium-sized enterprises is expected to drive the growth of Voice Over IP Market. Some benefits of having services over the cloud and it became the undisturbed and highly trusted mode of communication to the consumer. This made many business customers adapt to cloud-based VoIP Service. However, there is low public acceptance for VoIP services because of its low standard in service quality due to the latencies and dropped packets. There is a scope for VoIP’s to emerge into mobile VoIP with wireless network technology which will

Global VoIP Services Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

lead to the increase in the VoIP Industry.

Global VoIP Services Market Report Segments Share:

On the basis of Call Type the Voice Over IP Industry is segmented International VoIP Call, Domestic VoIP Call, among various call types, international long-distance VoIP calls were valued the highest and dominated the global VoIP market in terms of revenue and subscriber as domestic VoIP calls are given as the free services with the international long VoIP services. This VoIP market analysis on the call type explains the difference in contributing the market share.

Service provided through SIP Trunking Segment segments the VoIP market, Hosted IP PBX Segment, Managed IP PBX Segment, and others. Among these, the Hosted IP PBX segment has contributed the highest share nearly equal to 35% of the market. The configuration segments VoIP Software Market and they are computer-to-computer VoIP, phone-to-phone VoIP, computer-to-phone VoIP.

By the End-User, the VoIP Services Market is segmented into Corporate and Individual Users. Among this, the corporate segment is expected to dominate the VoIP Services Market over the forecasting period. The analysts say that the market is moderate during the initial stages of 2017-2018 and will gradually grow post-2018.

The VoIP Marketplace is all over the globe and is segmented into North America, South America, Europe, the Middle East and Africa, Asia Pacific. Among this Europe Middle East and Africa is expected to have the largest market share and the Asia Pacific being the fastest growing region during the forecast period. The growth is attributed to the development of the network infrastructure of high-speed

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Global VoIP Services Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

communication such as 3G/4G in this region. VoIP services have potential emerging opportunities in Latin America.

Global VoIP Services Market Report Trends:

Vonage Holdings Corporation launches SMS Automation Platform on November 1^st, 2017, enables embedded and targeted capabilities without any software expertise.
On November 2017, Verizon launched 5G residential broadband services in up to markets in 2018.

Global VoIP Services Market Report Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Global and Regional Diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

RingCentral Inc.
West Corporation
Verizon Communications Inc.
Microsoft Corporation
Thinking Phone Networks Inc.
Phone Power LLC

Along with these companies, there were many other companies considered/cited in the report while analysing the Global VoIP Services Market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base

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