VoIP Services Market Size Grow at CAGR of 10.0% by 2027 | 8x8 Inc., Nextiva Inc., Phone Power LLC, ShoreTel

Executive Summary -

VoIP Services Market 2022 Report is an in-depth Research Study that analyses important factors such as competition, segmentation, and geographical growth in great detail. The analytical study involves business identification of leading companies in the VoIP Services Industry as part of competitive analysis by 2027

Global International long distance VoIP calls based VoIP services market was valued at US$ 68.6 Bn market in 2018 and is forecasted to reach a value of US$ 162.3 Bn by 2027 at a CAGR of 10.0% between 2017 and 2027.

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IP telephony, often known as voice over internet protocol, is a technology that turns voice into a digital signal, allowing users to make calls straight from their VoIP phone, computer, or other data-driven devices. A VoIP service, in simple terms, is an internet-based phone service. Using packet-switched protocols, VoIP technology allows traditional telephony services to function over a computer network. Individuals and corporations are both using VoIP services. It's also low-cost and compatible with smartphones from other countries. International VoIP calls are typically free, with internet access being the only charge.

Market Drivers -

Various commercial sectors with varying levels of income generating, such as retail, banking and finance, real estate, and others, use VoIP services supplied by high-speed internet to minimise operational costs. For example, commercial banks in the city that offer online to offline financial service repetition can use digital banking services supplied by banks with internet technology to boost customer service satisfaction and cross-selling capacity. As a result, the worldwide VoIP services market is likely to develop over the forecast period, driven by rising demand for high-speed internet for commercial applications.

Key Players in VoIP Services Market -

· Verizon Communications Inc.
· Vonage Holdings Corporation
· ShoreTel
· 8x8 Inc.
· Inphonex LLC
· Nextiva Inc.
· Phone Power LLC
· RingCentral Inc.
· Thinking Phone Networks Inc.
· West Corporation
· Microsoft Corporation

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Global VoIP Services Market Taxonomy -

By Call Type

· International VoIP Call Type
· Domestic VoIP Call Type

By Service

· SIP Trunking Segment
· Hosted IP PBX Segment
· Managed IP PBX Segment
· Others

By Configuration
·
· Computer-to-Computer VoIP
· Computer-to-Phone VoIP
· Phone-to-Phone VoIP
·
· By End User
·
· Individual User
· Corporate User

Fastest Growing Regional Analysis -

Geographically, the VoIP Services market is separated into regions such as North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The research covers all from manufacturing and customer shares to market size and market share, import and export ratios, supply and demand, consumer demand ratios, technological improvements, R&D, organization growth, economic growth, and a strong market presence in every region. The report covers a detailed analysis for each major regional market across the globe and provides future outlook predictions for the same.

Key Developments -

Major industry participants are expanding their capacity in order to increase their market share. For example, West Corporation, a technology company based in the United States, enhanced its Flowroute software-centric carrier capabilities in June 2019. Flowroute can now deliver international phone calls as well as local and toll-free inbound numbers.

Mergers and acquisitions are being pursued by key market players in order to acquire a competitive advantage. For example, Microsoft Corporation purchased all of the assets of SwiftKey, a software keyboard that runs on Android and iOS devices, in February 2016. Customers' computing experiences will be improved as a result of this acquisition.

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Reason to Purchase -

– By analyzing the growth, size, top companies, and segments in the VoIP Services Market and VoIP Services Market, you can save time and money while conducting entry-level research.
– In order to assist organizations in realigning their business strategy, this report highlights critical business priorities.
– The primary findings and recommendations in the VoIP Services Market illustrate important progressive industry trends, helping players to establish effective long-term strategies.
– Develop/modify corporate expansion strategies that take advantage of significant growth opportunities in both developed and emerging regions.
– Examine the worldwide market's trends and outlook in depth, as well as the market's driving and limiting factors.
– Understanding the tactics that support commercial interest in terms of products, segmentation, and industry verticals can help you make better decisions.

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Coherent Market Insights -

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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