IP Telephony systems, evolving rapidly have already secured an important place in the day to day operations of the modern set-ups. Efficiently providing better connectivity and availing phone calls at much-reduced cost, these systems have become the first choice for international calls across organizations. Also, the mobility feature IP systems offer that allow users to communicate practically from anywhere is liked & appreciated by many.
Ease of installation & configuration, are add-on advantageous features of IP Telephony Market, that support its popularity to widen further & its uptake worldwide. Owing to these factors, IP Telephony systems are garnering momentum that is accelerating its market growth allowing these systems to garner prominence on the global platform.
Acknowledging the kind of growth the market is gaining currently demonstrating the growth prospects worldwide, Market Research Future has recently published a study report giving out the complete market insight up to 2023. This study report indicates that the global IP Telephony will expand accruing USD 52 Billion by 2023, at 9 % of a CAGR during 2017 to 2023.
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Predominant factors that drive the market growth include burgeoning e-commerce space, the emergence of web-based solutions and services and growing dependency of enterprises on web-based solutions. Augmenting demand for mobile IP telephony solutions is fostering the market growth to an extent. Moreover, growing uptake of IP telephony solutions particularly in IT and telecommunication industry is fuelling the market growth.
Major Key Players:
Avaya Inc. (US), Ascom Holding AG (Switzerland), Cisco Systems, Inc. (US), LG Electronics Inc. (South Korea), Gigaset Communications (Germany), Mitel Networks Corporation (Canada), Polycom Inc. (U.S.), Panasonic Corporation (Japan), Yealink Inc. (China), Grandstream Networks, Inc. (U.S.) and NEC Corporation (Japan)
The Market of IP Telephony appears to be competitive owing to the presence of numerous well-established players having the international and global presence. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for the leading players. IP Telephony market will witness intensified competition with an increase in R&D innovations and M&A.
Industry/ Innovation/ Related News:
March 26, 2018 – MNF Enterprise (My Net Fone Australia Pty Ltd. – Australia), a notable player, providing hosted communication services to government and enterprises, announced that it has been selected & signed an agreement with the Tasmanian Government to provide telephony and IP-based telecommunication services. The agreement builds on the current supply of voice carriage services as well.
March 25, 2018 – Cisco Systems, Inc. (US) announced that it has refurbished its SPA8000 8-Port IP Telephony Gateway with 1 x RJ-45 – 8 x FXS – Fast Ethernet.
March 28, 2018 – Kyivstar (Ukraine) a mobile network operator company in collaboration with the PUMB Bank launched a project for SMEs to access Kyivstar’s dedicated package of services for business. The package includes IP telephony, the CRM system Bitrix 24, and mobile PBX services.
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For the convenience of the report and enhanced understanding; MRFR Analysis – Global IP Telephony Market is been segmented into 5 key dynamics;
By Components: Comprises Hardware (IP desktop phones, audio conference phones, and DECT phones), Service (managed services and professional services)
By Organization Size: Small, Medium & Large Enterprises.
By Connectivity: Wired & Wireless
By Verticals : Healthcare, Manufacturing,IT &Telecommunication, Retail, Government and BFSI among others.
By Regions: North America, Europe, APAC and Rest of the World.
The Segment Large Enterprises is predicted to account for the largest market share, attributing to the significant shift to the cost-effective voice over IP applications.
While the segment SMEs will be growing at the significant rate during the review period attributing to the better scalability & cost benefits the IP telephony provides over traditional calling features.
North America market dominates the global IP Telephony market with the largest market share; followed by the Europe and Asia Pacific regions respectively. Augmenting uptake of IP telephony solutions coupled with the technological advancements transpired mainly in Canada & the US drives the regional market growth. The region is likely to continue its dominance during the review period. Furthermore, availability of the well-established infrastructure, that enables faster implementation of advanced technologies along with the major uptake of these solutions across different industry verticals such as healthcare, retail, BFSI, to name a few, provide large impetus to the regional market growth.
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