Global Voip Services Market a CAGR of 9.4% from 2018 to 2024 to reach US$ 194.5 Billion revenue towards the end of 2024 | IT and Telecommunication Update : 8x8 Inc., RingCentral Inc., Vonage Holdings Corporation, West Corporation, Microsoft Corporation, N

Press Release – 08 Jan 2019
Research and Development News --
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Latest Update "Global Market Study on VoIP Services: Managed IP PBX Service to Witness Highest Growth During 2017 - 2024" with Industries Survey | Global Current Growth and Future.
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“International Long Distance VoIP Calls to Witness Highest Growth in the Global VoIP Services Market”

Based on the call type, compared to the domestic VoIP call, international long distance VoIP calls are likely to witness significant growth during 2017-2024. By the end of 2024, international long distance VoIP calls are projected to surpass US$ 120 Billion revenue.

On the basis of service type, Managed IP PBX service is expected to account for the highest share in the global market for VoIP services. Managed IP PBX service is estimated to bring in more than US$ 80 Billion in revenue towards the end of 2024.
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Based on the configuration, computer-to-phone is likely to witness the highest growth between 2017 and 2024. Computer-to-phone is also projected to bring in more than US$ 100 Billion revenue by 2024 end.

In terms of end users, a corporate user is likely to emerge as the largest user of VoIP services during 2017-2024. By the end of 2024, corporate users are estimated to exceed US$ 120 Billion revenue.

Telecommunication industry is changing rapidly, hence, growth and innovation are taking place in the VoIP industry. Service providers are trying to provide advanced features offering convenience to the end user. Meanwhile, poor internet connectivity and power outage are some of the factors that may hamper the growth of the global market for VoIP services.

Moreover, conventional telecommunication regulations cannot regulate the VoIP services market due to the difference in the technological process. This may also restrict the growth of the global VoIP services market.
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“VoIP Services Gaining Popularity in the Corporate World”

Various businesses are using VoIP services to improve communication and also to take advantages of services that cannot be offered by traditional phones. Companies providing VoIP services are also planning to increase mobility, flexibility and productivity. Also, service providers are offering VoIP technology that stores data in one single network, this helps in increasing productivity, helps in managing the business and offers cost-effectiveness. Companies are also moving towards adopting wireless VoIP services in order to make calls from any location that offers Wifi service. Hence, better wireless VoIP technologies with advanced features are being developed by companies to compete in the global VoIP services market. Services providers are also offering discounts and offers on VoIP services to attract more corporate customers.

“Research Methodology”

The next section in the report offers analyses on the market by dividing the market into various segments including call type, service type, end user, configuration, and region. The market is further divided into sub-segments to provide better understanding and all the opportunities for growth in the market. The numbers are provided in the form of revenue expected to be generated and CAGR and also in the terms of basis point share.

The last section of the report includes a detailed profile of all the major players in the global VoIP services market that are expected to remain active during the forecast period 2017-2024. The report has also evaluated all the key players in the market based on latest developments, company and financial overview, and advancement in technology.

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