Growing demand for advanced internet facilities across business organizations and the expected roll-out of 5G technology are driving the demand for Vietnam IP telephony market in the forecast period, 2023-2027.
According to TechSci Research report, “Vietnam IP Telephony Market By Region, Competition Forecast & Opportunities, 2027”, the Vietnam IP telephony market is expected to grow at a robust CAGR in the forecast period, 2023-2027. Increasing competition among the internet service providers and telecommunication industry in the industrial sector coupled with the cost-effectiveness of IP telephony are the major factors driving the demand of the Vietnam IP telephony market through the forecast period.
IP telephony refers to any phone system that uses an internet connection to send and receive voice data. IP phones connect to the internet via a modem and router. IP telephony is preferred among organizations as it eliminates the need to maintain two separate networks. IP telephony is more affordable than wired phone services and can effectively integrate with existing infrastructure, enabling effective communication between the networks. They can be accessed from remote locations using portable devices and computers.
However, the requirement for stable and fast internet connection and poor voice quality through IP telephony may restrain the growth of the Vietnam IP telephony market in the forecast period.
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The Vietnam IP telephony market is segmented into offering, access type, call type, installation type, enterprise size, vertical, regional distribution, and company.
Based on offering, the market is divided into solutions and services. The solutions segment dominates the market and is expected to maintain its dominance for the next five years. Customers prefer to use mobile devices to establish communication between the enterprises and availing new ways to communicate with merchants. IP telephony provides a cost-effective solution to enterprises to invest in high-speed internet connections.
Based on call type, the market is divided into international calls and domestic calls. International calls are expected to account for significant market share in the forecast period. IP telephony unifies numerous business offices in a business firm under a single congregated network and provides seamless connectivity across the globe with minimal disruptions. Also, costly long-distance call charges within branches and offices account for a significant portion of operational costs. In the next five years, the increasing adoption of IP telephony services by organizations is expected to create lucrative growth opportunities for the Vietnam IP telephony market.
Based on call type, the market is divided into wired and wireless. Wireless call type is expected to witness the fastest incremental growth in the forecast period. It is easier to use and portable, giving users the freedom to move and work.
Based on organization size, the market is divided into large enterprise and small & medium enterprises. Large enterprises are expected to capture the highest market share in the forecast period. Availability of huge funds in large enterprises for up-gradation of the existing infrastructure and the need to establish seamless connectivity in enterprises is expected to accelerate the growth of the Vietnam IP telephony market.
Based on vertical, the market is divided into BFSI, IT & telecommunication, retail, and government. IT & telecommunication industry is expected to capture the largest market share through the forecast period. An increase in the adoption of IT telephony such as high-tech technology, voice mails, call routing, and contact centers by IT industries improves the operations to a greater extent. Also, compared to the traditional phone systems, IP telephony systems enable easy transfer of data and handling and better productivity, resulting in higher adoption for various business purposes.
Major market platers operating in the Vietnam IP telephony market are:
VoIP Vietnam
Southern Telecom
Oncall
FPT Telecom International
CloudFone Vietnam
ZLink Vietnam Technology
Sangoma Technologies Corporation
CloudPBX
P.A Vietnam Cloud Solutions
CMC Telecom
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“Leading authorities of Vietnam are making efforts to advance the business infrastructure and promote digitization of organizations by launching initiatives like National Digital Transformation Programme by 2025 with a vision towards 2030. The program aims to target businesses and organizations to adopt digital transformation to enhance their production and business efficiency, which is expected to improve business operations. The government is attracting foreign investments to develop the telecommunication sector and provide broadband services. Ongoing digital initiatives, intense competition among the market players, and favorable government policies are expected to propel the Vietnam IP telephony market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“IP Telephony Market – Vietnam Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Offering (Solutions and Services), By Access Type (Phone to Phone, Computer to Computer, Computer to Phone), By Call Type (International Calls and Domestic Calls), By Installation Type (Wired and Wireless), By Enterprise Size (Large Enterprise and Small & Medium Enterprises), By Vertical (BFSI, IT & Telecommunication, Retail, Government), and By Region”, has evaluated the future growth potential of Vietnam IP telephony market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam IP telephony market.
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