Press release
Voice over Internet Protocol (VoIP) Market is expected to reach USD 91.76 billion by 2029, with a CAGR of 15 % between 2023 and 2029
Voice over Internet Protocol (VoIP) Market
The comprehensive report delves into the landscape of the Voice over Internet Protocol (VoIP) Market, providing a detailed analysis of key players, industry dynamics, technology trends, and potential impact factors. The report encompasses:
• Competitive benchmarking
• Analysis of past, current, and forecasted industry status and trends
• Evaluation of potential key players, including market leaders, followers, and new entrants
• Exploration of technology trends and micro-economic factors' influence on the market
• Examination of external and internal factors shaping the market
Voice over Internet Protocol (VoIP) Market Dynamics:
The VoIP market's growth is driven by several factors, including the widespread adoption of 5G technology, which provides higher speeds, lower latency, and enhanced device connectivity. This evolution enables more bandwidth for VoIP applications, leading to a shift from traditional PSTN phone systems to VoIP by numerous organizations. Additionally, the increasing awareness of VoIP's benefits and the rise of user-friendly software like Viber, Line, Skype, and WhatsApp contribute to market expansion.
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Voice over Internet Protocol (VoIP) Market Segmentation:
by Access Type
Phone To Phone
Computer To Computer
Computer To Phone
by Type
Integrated Access/Session Initiation Protocol (SIP) Trunking
Managed IP PBX
Hosted IP PBX
by Medium
Mobile
Fixed
by User Type
Individual Consumers
SMBs
Large Enterprises
by Industry Vertical
Healthcare
BFSI
Retail
Hospitality
Government
Education
Transportation
Media And Entertainment
Military And Defence
Others
The hosted IP PBX segment of the VoIP market is anticipated to grow at a rate of about 20% by 2029 due to the utilization of advanced communication services to address the need for lower telecom equipment expenditure. Since hosted services require less hardware investment and hence save businesses CAPEX and OPEX, this trend is expanding the market's potential for expansion.
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Voice over Internet Protocol (VoIP) Market Key Players:
1.AT&T
2. Orange S.A.
3. Verizon
4. Telecom Italia
5. Deutsche Telekom AG
6. KT (Korea Telecom) Corporation
7. T-Mobile USA, Inc.
8. Vonage Citrix
9. Microsoft Corporation
10. Telenor
11. Alcatel Lucent
12. Cisco
13. Ribbon Communication
14. Huawei
15. Orange
16. Telenor
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Regional Insights:
In 2022, the Asia Pacific (APAC) region contributed significantly to the VoIP market, accounting for approximately 20% of total revenue. The APAC region's burgeoning internet penetration, particularly in countries like China, is driving the demand for reliable communication alternatives, making VoIP a compelling solution. North America, on the other hand, is poised to dominate the VoIP market, with a projected market share of over 40% by 2029. The region's focus on cloud services, advanced telecommunications infrastructure, and the growing trend of worker mobility are key factors fueling this growth.
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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Europe is the dominating region for the VOIP Services Market closely followed by Asia Pacific, owing to high use of IP telephony and VOIP…
