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    Voip Market is projected to cross USD 55 Billion By 2025

    Published on July 19, 2019

    The VoIP market is expected to witness a significant growth from 2019 to 2025 as the technology enables a cost-effective way of communication compared to a broadband internet connection. The technology is rapidly replacing expensive traditional phone services as it eliminates the need to invest in massive telecom hardware equipment.

    Extensive internet penetration and widespread adoption of advanced unified communication platforms to support the growing business requirements will also contribute to the rising adoption of VoIP. As the enterprises are focusing on geographic expansion, they face tremendous pressure to improve internal & external communication and collaboration among remotely dispersed workforce. This leads to the adoption of VoIP solutions including IP phones and web-based applications, which facilitate cost-effective communication.

     

     

     

     

     

     

     

     

     

    The international VoIP market is projected hold a major share of over 50% by 2025. The demand for international VoIP calling services will increase as they enable huge cost-savings for enterprises who have their offices and customers across remotely distributed locations. Several affordable international calling plans or plan extensions are being offered by VoIP service providers, enabling organizations to conduct business across borders at low calling rates.

    SMBs are projected to exhibit an accelerated growth of over 15% in the VoIP market from 2019 to 2025. The growing trend of workforce mobility and budgetary constraints compel the SMBs to look for effective ways to reduce telecommunication expenses. They are widely using softphones and IP phone systems that can be easily configured to support several phone lines as per each user’s requirements.

    The fixed VoIP segment will hold a voice over internet protocol market share of around 55% by 2025 as enterprises prefer a secure phone system, which utilizes internet connectivity and offers more safe and convenient communication. Fixed VoIP is registered with an address, which can be traced back to the phone line and uses stringent security protocols, which prevent user’s phone number from being misused.

    North America is projected to dominate the VoIP market in 2025 with a share of over 40%. Huge adoption of cloud services, advanced telecommunications infrastructure, and rising popularity of workforce mobility will support the market growth. Enterprises in the region are migrating from traditional PSTN network to cloud-based telephony to reduce hardware dependency, increase scalability, and improve collaboration.

    The companies present in the VoIP market are focusing on offering new products and services to gain more market share. In December 2018, Panasonic introduced new Panasonic KX-NT680 and KX-NT630 IP phones to facilitate intuitive communications. The new phones offer clear voice quality, echo cancellation, and encrypt communication packets to establish safe communication channels. Some companies are engaging in strategic partnerships and acquisitions to expand their communication solutions portfolio to cater to a wider set of audience.

     

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