The VoIP or Voice over Internet Protocol equipment market is expected to grow rapidly between 2019-2025. It is expected to cross total market worth of USD 55 billion by the end of 2025. The growth of the VoIP equipment market can be attributed to the cost –effective communication solution that it provides and the rise in demand for the same. Affordable communication media is now heavily in demand to support enterprise mobility. Favorable government initiatives around the world have also led to the surge in the growth of the VoIP equipment market.
Companies today employ remote workers more and more. They need a cost-effective communication and collaboration solution which can help them monitor these workers and extract productive work effectively from them. VoIP products such as cheap calling plans and IP phones and adapters are currently experiencing high demand, as a result. Investments into the wireless telecommunications sector have also stepped up. Government agencies and private companies alike are investing generously into 4G/LTE and 5G network development. In our market survey report, we look at all these growth drivers and try to get to the source of what have been the main drivers of growth in this market sector.
Top Key Players
If you are interested in learning more about the global VoIP equipment market, our comprehensive report here for the same should help answer your queries. It studies the global VoIP equipment market in special segments, to provide a more detailed understanding of the market space. We look at these segmentations below, with special emphasis on the regional reach. Our market survey report for the global VoIP equipment market concludes with recent news pertaining to this market space, which may have further growth potential for this market sector.
The global VoIP equipment market is studied in segments, in our professional market survey report. The segments are based on product type, product application and regional penetration. With respect to product type, the VoIP equipment market is divided into IP PBX equipment and Hosted PBX equipment. In terms of product application, the global VoIP equiment market is divided into residential use and enterprise use. Regionally, the VoIP equipment market is studied in the geographical areas of Asia Pacific, the Middle East, Europe and North-South America. We look at the regional segmentation individually in the section below, to be able to access a detailed understanding of the same.
The VoIP equipment market is discussed for the regions of North-South America, the Middle East, Europe and Asia Pacific, as stated above. The Latin American districts of Brazil and Mexico is slated to register a growth of upwards of 15% during our study period. The South American region will witness favorable growth in the VoIP equipment market due to increasing investment in telecom technologies, increased utilization of cloud-based communications platforms and the spurt in internet penetration. More and more companies in this region are employing cloud-based communication technologies to advance their communication infrastructure. Global companies operating in the VoIP equipment space are also aggressively trying to innovate their products further, to maximize their market share in the global VoIP equipment market.
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