IP Telephony Market Size 2022-28: Growth, Trends, Global Share Analysis

According to Precision Business Insights (PBI), the latest report, the IP Telephony market is expected to be valued at USD 2,130.70 million in 2022 and is poised to grow at a significant CAGR of 14.1% from 2022-2028. The primary drivers of the expansion of the global IP Telephony market include the rise in urban population, the adoption of smart communication, the increased rate of data transmission over the internet, growing communication, and the dependency of enterprises on web-based solutions and services.

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Government Usage to Dominate the IP Telephony Market:
Based on end-user, the global IP Telephony market is segmented into corporate, government, residential, and others. Usage of IP Telephony services in the government sectors is expected to account for a larger revenue share in the global IP Telephony market, with a value share worldwide. The usage of Internet Protocol IP Telephony services in government is increasing at a significant rate. In IP Telephony services, there are no reliability and compatibility issues. Hence, this segment will drive the global IP Telephony market growth.

North America IP Telephony Market:
North America is expected to increase in the global IP Telephony market over the forecast period. North America is expanding in the global IP Telephony market as a result of the high adoption rate, and the increasing number of smartphone users. Asia Specific held considerable market share during the estimated period owing to the increasing enterprise mobility and cloud-based communication services.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global IP Telephony market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The IP Telephony market is segmented based on product type, enterprise size, connectivity, end-user, and geography.
Based on the product type, the market is segmented into the following:
• Hardware
• Software
• Services

Based on the enterprise size, the market is segmented into the following:
• Large Enterprise
• Small & Medium Enterprises

Based on the connectivity, the market is segmented into the following:
• Wired
• Wireless

Based on the end user, the market is segmented into the following:
• Corporate
• Government
• Residential
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the IP Telephony market report are The leading players in the global IP Telephony market are Ascom Holding AG, Avaya Inc., Cisco Systems, Inc., Gigaset Communications, LG Electronics Inc., Mitel Networks Corporation, Panasonic Corporation, Polycom Inc., Yealink Inc., NEC Corporation, Dialpad, Freshworks, Intermedia.net, Broadvoice, and Pure IP.

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This release was published on openPR.