Voice over Internet Protocol (VoIP) Market Will Generate Revenue of $55 Billion By 2025, With A CAGR of Over12%

Voice over Internet Protocol (VoIP) Market Will Generate Revenue of $55 Billion By 2025, With A CAGR of Over12%

“North America is projected to dominate the Voice over Internet Protocol (VoIP) Market in 2025 with a share of over 40%”
The IT & telecom Voice over Internet Protocol (VoIP) Market will hold the largest market share of over 25% by 2025 as huge investments are being made to improve the telecommunications infrastructure to support VoIP services

The Latin America voice over internet protocol (VoIP) market is expected to witness a growth rate of over 15% during the forecast timeline. Increasing investments in the telecom technologies, rising internet penetration, and growing utilization of cloud-based communications platforms are expected to fuel the voice over internet protocol (VoIP) market growth in the region. The enterprises in the region are deploying cloud-based communications systems to manage their communications infrastructure. Also, global players are aggressively expanding their presence in the region by entering into agreements with companies operating locally with extensive distribution networks. For instance, in November 2017, Grandstream partnered with Net2phone to deliver a comprehensive IP-based communication solution for businesses in Argentina.

 

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Global Voice over Internet Protocol (VoIP) market is projected to surpass USD 55 billion by 2025. The market growth is attributed to the growing demand for cost-effective communication solutions to support enterprise mobility and favorable government initiatives for the development of the wireless telecommunications infrastructure. As enterprises are rapidly expanding their businesses across domestic as well as international regions, they need cost-effective solutions that can improve their communication & collaboration with their remote employees.

The phone-to-phone voice over internet protocol (VoIP) market is estimated to grow at a CAGR of over 17% from 2019 to 2025. The market growth is attributed to the rising penetration of smartphones and affordable domestic and international calling service plans offered by VoIP service providers. This has facilitated the demand for IP phone systems, which offer advanced functionalities such as call waiting and routing options as compared to analog phones.

The fixed voice over internet protocol (VoIP) market held a market share of over 62% in 2018 and is expected to dominate the market with a share of over 55% in 2025. As a reliable communications infrastructure is vital for the success of any organization to ensure seamless internal and external communications, they choose fixed VoIP. A system offers optimum security to safeguard communication as the numbers are assigned by the service providers, which can be traced back to the PSTN line to detect the cases of fraud.

 

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The education voice over internet protocol (VoIP) market is expected to witness a growth rate of over 18% during the forecast timeline due to the extensive use of IP phones and softphone applications to enable collaboration among classes and conduct seminars through VoIP systems without physically being present at the location. The technology is gaining traction to reduce the amount spent on procuring expensive telephony equipment.

Phone systems are widely being used by school authorities to interact with parents to provide alerts and updates regarding child’s behavior and progress. As traditional phones incur huge calling expenses, the educational institutions are adopting such phones to utilize the benefits of the cost-effective communication system. These phones facilitate smooth voice communication to enhance school administration and enable departments and teams to handle calls efficiently.

 

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The companies present in the voice over internet protocol (VoIP) market are focusing on offering new products and services to gain more market share. In December 2018, Panasonic introduced new Panasonic KX-NT680 and KX-NT630 IP phones to facilitate intuitive communications. The new phones offer clear voice quality, echo cancellation, and encrypt communication packets to establish safe communication channels. Some companies are engaging in strategic partnerships and acquisitions to expand their communication solutions portfolio to cater to a wider set of audience.

 

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