Global Voice over Internet Protocol (VoIP) Market

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Global Voice Over Internet Protocol (VoIP) Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 12.50% during a forecast period.

 

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Voice over Internet Protocol is a technology that differs from traditional copper-line telephone systems. The VoIP services are becoming increasingly attractive to small-business owners because of their simplicity, extensive range of features, and inexpensive pricing over traditional phone line systems.

Global Voice over Internet Protocol (VoIP) Market, Dynamics:
High technology and speed internet are reducing the big amount of the analog equipment investment in the telecom sector. As the mobile industry will transform from 4G to 5G digital cellular technology to accommodate extensive mobile computing, the expectation for the Voice over Internet Protocol will be high, which is expected to increase the VoIP performance in the future. The success of the VoIP technology is based on the decision of the organization to integrate the modern telecom infrastructure, which is expected to help to transform the communication landscape. Voice over Internet Protocol is becoming a suitable option for the business entities because of its outstanding record for increased reliability, clear voice, added bandwidth and exceptional call quality.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Voice over Internet Protocol (VoIP) Market, Segment Analysis:

The VoIP market has witnessed the signifiant shift from circuit switched network to the packet switched network. As the introduction of the technolgy in the multiple industries are shifting their focus on the cloud based service, which is expected to host the solution with the cloud infrastructure to grow. Cloud-enabled phone systems facilitate enterprises to scale up or down to their business demands and empower them to manage communication services cost-effectively. The cloud based platforms are helps to eliminate the requirement to invest in any hardware equipment.

The mobile VoIP segemnt is expected to witness the 13% growth rate during the forecast period. The availability of 4G services is growing the capability of network providers to deliver high-quality voice and video calls. Furthermore, The SMBs are expected grow at a XX % rate of CAGR during the forecast period. An increase in the trend of workforce mobility is expected to enforce the SMBs to look for effective ways to reduce telecommunication expenses. SMBs are increasing the demand for VoIP service to reduce equipment implementation, maintenance costs, and expenditure on IT staff training.

The BFSI vertical is expected to hold a share of over 15.50% in the global voice over internet protocol (VoIP) Market by 2027. The Communication through numerous channels has become a vital part of the BFSI sector. The financial institutions and insurance key players are demanding reliable and on-demand voice communication solutions to connect with their value chain partners. The VoIP technology acts as a suiatble option in the BFSI sector to ensure connectivity and increase the responsiveness. The sector is witnessing a rise in the usage of cloud-enabled IP phones and VoIP service plans at a lower communication costs and helps to make business-critical decisions, which improves team collaboration.
Global Voice over Internet Protocol (VoIP) Market, Regional Analysis:

Region-wise , North America region held the dominat position in the market and it is projected to continue its dominance position during the forecast period. The rapid development of IT infrastructure is one of the key drivers in the market growth. High adoption of cloud services, advanced telecommunications infrastructure, and popularity of workforce mobility are some of the prominent drivers behind the market growth in the region.

However, Asia Pacific region is projected to be leading region in the global voice over internet protocol (VoIP) Market. An incraese in internet penetration, smartphone users, and adoption of cloud-based communication platforms are expected to boost the growth in the maket. Despite its well established presence of the VoIP technology in the developed countries, some ASEAN and African countries are lagged behind due to the lack of the high speed internet connection in the rural areas. Many developing countries are focusing on the increasing the broadband internet connections. In addition,organisation in the emering region are upgrading their network and purchasing the high speed internet connection.
Global Voice over Internet Protocol (VoIP) Market, Competitive Landscape:

The enterprises across the globe are focusing on geographic expansion to increase the internal & external communication. They are also trying to collaborate among remotely dispersed workforce, which is expected to increase the adoption of VoIP solutions like IP phones and web-based applications and facilitate cost-effective communication. The VoIP technology enables functionalities like voice calling, video calling, and instant messaging at a very low cost. In addition, many key players are using the VoIP service as steping stone to implement unified communication suit. Government agencies and private companies are focusing to invest huge amounts in wireless telecommunication technologies like 4G/LTE and upcoming 5G networks, which is expected to propel the market growth. For instance, The Telefonica Spain invested US $ 125 Mn for 5G spectrum.The next-generation technologies are expected to enhance the VoIP for businesses and delivering high transfer speeds and allowing businesses to deliver high-quality voice & data services.

The objective of the report is to present a comprehensive analysis of the Global Voice over Internet Protocol (VoIP) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Voice over Internet Protocol (VoIP) Market dynamics, structure by analyzing the market segments and projects the Global Voice over Internet Protocol (VoIP) Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Voice over Internet Protocol (VoIP) Market make the report investor’s guide.
Scope of the Global Voice over Internet Protocol (VoIP) Market : Inquire before buying

Global Voice over Internet Protocol (VoIP) Market, By Access Type

• Phone To Phone
• Computer To Computer
• Computer To Phone
Global Voice over Internet Protocol (VoIP) Market, By Medium

• Mobile
• Fixed
Global Voice over Internet Protocol (VoIP) Market, By User Type

• Individual Consumers
• SMBs
• Large Enterprises
Global Voice over Internet Protocol (VoIP) Market, By Vertical

• Healthcare
• BFSI
• Retail
• Hospitality
• Government
• Education
• Transportation
• Media And Entertainment
• Military And Defence
• Others
Global Voice over Internet Protocol (VoIP) Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Voice over Internet Protocol (VoIP) Market

• Verizon
• At&T
• Orange
• Deutsche Telekom
• KT (Korea Telecom)
• Sprint Nextel
• Telecom Italia
• Telenor
• Vonage Citrix
• T-Mobile

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