Voice Over Internet Protocol (VoIP) Market: Fast-Moving Trends to Watch | Key Players are 8x8, Alcatel-Lucent Enterprise, AT&T, Avaya, Cisco, Citrix, Google, Mitel, Nextiva, RingCentral, Telenor, Verizon, Vonage

The rapid influx of advanced technologies has brought another vertical to the forefront of the voice over internet protocol (VoIP) market landscape. Incepted somewhere in the 1990s, the VoIP technology is now garnering universal attention on account of the fact that it is one of the most effective methods of voice calling across the globe. As the landscape of mobile industry evolves by the day, it is being touted that VoIP might soon overtake the presence of PSTN as far as voice calling is concerned, thereby augmenting the global voice over internet protocol (VoIP) market.

The managed IP PBX segment is expected to grow at a CAGR of over 12% during the forecast timeline. The demand for managed VoIP is increasing as organizations are seeking new ways to minimize their initial setup & hardware maintenance costs and complexities by deploying VoIP in-house. The managed service provider helps customers to expand their systems or upgrade PBX as per their needs. These services act as excellent alternatives to traditional PBX systems or managing own IP PBX.

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The fixed voice over internet protocol (VoIP) market held a market share of over 62% in 2018 and is expected to dominate the market with a share of over 55% in 2025. As a reliable communications infrastructure is vital for the success of any organization to ensure seamless internal and external communications, they choose fixed VoIP. A system offers optimum security to safeguard communication as the numbers are assigned by the service providers, which can be traced back to the PSTN line to detect the cases of fraud.

The key players covered in this study: -
1. 8x8
2. Alcatel-Lucent Enterprise
3. AT&T
4. Avaya
5. Cisco
6. Citrix
7. Deutsche Telekom
8. Google
9. Huawei Technologies
10. Jive Communications
11. Microsoft
12. Mitel
13. Nextiva
14. Orange Business Services
15. Ribbon Communications
16. RingCentral
17. Telenor
18. Verizon
19. Vonage
20. ZTE Corporation

The phone-to-phone voice over internet protocol (VoIP) market is estimated to grow at a CAGR of over 17% from 2019 to 2025. The market growth is attributed to the rising penetration of smartphones and affordable domestic and international calling service plans offered by VoIP service providers. This has facilitated the demand for IP phone systems, which offer advanced functionalities such as call waiting and routing options as compared to analog phones.

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The education voice over internet protocol (VoIP) market is expected to witness a growth rate of over 18% during the forecast timeline due to the extensive use of IP phones and softphone applications to enable collaboration among classes and conduct seminars through VoIP systems without physically being present at the location. The technology is gaining traction to reduce the amount spent on procuring expensive telephony equipment. Phone systems are widely being used by school authorities to interact with parents to provide alerts and updates regarding child’s behavior and progress. As traditional phones incur huge calling expenses, the educational institutions are adopting such phones to utilize the benefits of the cost-effective communication system. These phones facilitate smooth voice communication to enhance school administration and enable departments and teams to handle calls efficiently.

As far as the geographical penetration of voice over internet protocol (VoIP) market is concerned, the global technology hub – North America, will irrefutably emerge as one of the most lucrative regional grounds of this business space. The reason for the same can be attributed to the massive adoption of cloud services and the escalating popularity of workplace mobility. Not to mention, the continent is home to some of the most established technology providers that strive to bring about a spate of novel products to the mainstream. Additionally, they are also involved in consolidating their regional and international reach by means of innovative collaborations and M&As.

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Companies nowadays have begun to depict practical demonstrations such as instant website calling and live video assistance for customers. As the demand for these solutions increases across numerous end-use verticals, the global voice over internet protocol (VoIP) market is expected to emerge as one of the most pathbreaking technology verticals in recent times. As per a report by Global Market Insights, Inc., the overall voice over internet protocol (VoIP) market is anticipated to surpass USD 55 billion by 2025.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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