VoIP Services Market: By Call Type, by End-Use Individual Use, Corporate Use, by Service and by Geography

Voice over internet protocol (VoIP) is a group of technologies for the transfer of voice communication and multimedia sessions over internet protocol networks. It is a cost-effective technology to communicate with people around the globe. The technology makes use of the internet as a medium for digital signal propagation. The various related terms in VoIP are internet telephony, broadband telephony, and IP telephony. These changes are expected to favor the market positively in the near future by replacing the vertically separated networks from all IP converged networks. Furthermore, VoIP providers are introducing additional features to attract end-users at both corporate and individual levels.

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Key players operating in the global VoIP services market are Verizon Communications Inc., Vonage Holdings Corporation, ShoreTel, 8x8 Inc., Inphonex LLC, Nextiva Inc., Phone Power LLC, RingCentral Inc., Thinking Phone Networks, Inc., West Corporation, and Microsoft Corporation.

Market Dynamics- Restraints
1. Privacy issues associated with the data on the cloud are expected to restrain the growth of the global VoIP services market during the forecast period:
Although there are various advantages of adopting cloud computing, shifting files to the cloud makes personal data vulnerable, which can be potentially accessed by a third-party. Moreover, the data of large organizations such as financial data is maintained on the cloud. Since cloud services are maintained and managed by a third party, there is a chance that data can be exposed to unauthorized users. Thus, such privacy issues related to data on the cloud are expected to restrain the global VoIP services market growth in the near future.

2. The high presence of inadequate contract proposals is expected to hinder the global VoIP services market growth over the forecast period:
Many VoIP service providers in the market offer contract proposals with unsatisfactory terms or limit customer choice. Such terms keep the customer occupied in the same plan or contract. As a result of this, customers are not eager to accept services from any new service provider. Therefore, such inadequate contract proposals are expected to hamper the market growth over the forecast period.

Market Trends:
1. High adoption of mobile VoIP
Robust increase in sales of smartphones has led to a significant increase in the adoption of mobile VoIP over fixed-line VoIP. A vast number of users are subscribing to one of many OTT companies offering mobile VoIP applications and services. For instance, Google developed Google Hangouts—an Android-based application that provides free VoIP services. Similarly, Apple Face Time comes pre-installed on iPhones and offers similar functionalities. Growing competition and a wide range of differentiated service offerings by VoIP service providers are expected to result in the exponential growth of mobile mVoIP services in the near future.

2. The paradigm shift from fixed-line voice services to IP-based wireless VoIP services
Conventional fixed-line voice calls have comparatively cost to VoIP services. Since VoIP services are cost-effective, they facilitate companies to shift from conventional voice services on fixed-line to communication-based on IP. For instance, A1 Telekom based in Austria transformed into a VoIP platform from an entire fixed-line voice service provider. More network providers are following suit. This trend is expected to continue during the forecast period.

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Access to high-speed internet has increased in semi-urban as well as satellite cities, especially in emerging economies. As a result of this, small- and mid-sized businesses can reach out to all the mass media at very low investment. For instance, across nine emerging economies such as India, Vietnam, Argentina, Mexico, Malaysia, Turkey, Taiwan, Morocco, Hungary, the Internet has allowed them to gain revenue and reduce costs as stated by almost 3,000 surveyed SME based there. Hence, increasing penetration of the internet is semi-urban and satellite cities are expected to boost the global VoIP services market growth in the near future.

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