Press release
IP Telephony Evolution: Key Trends Shaping Business Communications
IP Telephony Market
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The IP telephony market size is projected to reach US$ 85.16 billion by 2031 from US$ 29.65 billion in 2023. The IP telephony market is expected to register a CAGR of 14.1% during 2023-2031. Voice over IP (VoIP) is a service and application that falls under the umbrella of IP telephony. It is the transmission of voice communication over IP networks.
Market Drivers
Rising cyberattacks push organizations to adopt secure IP telephony for data protection and breach prevention. The surge in remote and hybrid work models demands adaptable communication tools like mobile apps and video conferencing. Cloud-based platforms enable scalability and lower costs compared to traditional phone systems.
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Key Trends
Cloud-hosted PBX systems lead due to minimal upfront costs and seamless support for distributed teams. Integration of AI enhances features like voice recognition and smart assistants for better customer service. Expansion of 5G and broadband opens doors for high-quality VoIP in mobile and emerging markets.
Market leaders and key company profiles-
• Avaya Inc.
• Cisco Systems Inc.
• Gigaset Communications
• LG Electronics Inc.
• Mitel Networks Corporation
• Panasonic Corporation
• Polycom Inc.
• Yealink Inc.
• NEC Corporation
• Grandstream Networks Inc.
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Opportunity Factors
Remote collaboration tools create demand across residential, corporate, and government sectors seeking unified platforms. Sectors like healthcare, finance, and retail pursue compliant, efficient solutions for global connectivity. Growth in SMEs and startups, especially in Asia Pacific, fuels need for affordable, feature-rich telephony.
Related Reports-
1. IP Deskphones Market: https://www.theinsightpartners.com/reports/ip-deskphones-market
2. Desktop IP Phone Market: https://www.theinsightpartners.com/reports/desktop-ip-phone-market
3. Corporate Telephony Market: https://www.theinsightpartners.com/reports/corporate-telephony-market
4. Cloud Telephony Services Market: https://www.theinsightpartners.com/reports/cloud-telephony-services-market
5. IP DECT Phones Market: https://www.theinsightpartners.com/reports/ip-dect-phones-market
Contact Us
Email: sales@theinsightpartners.com
Website: www.theinsightpartners.com
Phone: +1-646-491-9876
About The Insight Partners
The Insight Partners is a leading provider of actionable market research and consulting. The Market report delivers comprehensive market sizing, trends, competitive analysis, and strategic insights to help stakeholders make informed decisions in a rapidly evolving environment.
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