Market Size –
The voice over internet protocol (voip) market size has grown rapidly in recent years. It will grow from $119.14 billion in 2023 to $134.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to cost savings, mobility and flexibility, evolving consumer preferences, scalability and ease of expansion, increased remote work..
The voice over internet protocol (voip) market size is expected to see rapid growth in the next few years. It will grow to $229.83 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to focus on quality of service, compliance with regulatory standards, voice analytics and business intelligence, energy efficiency measures, focus on user education and training. Major trends in the forecast period include mobile voip adoption, web real-time communication , increased focus on security measures, cloud-based voip solutions, voice biometrics for authentication, increased integration with collaboration tools..
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Scope Of Voice over Internet Protocol VoIP Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing adoption of 5G technology is expected to drive the growth of the voice over internet protocol (VoIP) market in the coming years. 5G provides faster transmissions, lower latency, and the ability to connect a larger number of devices by providing gigabyte rates, which will provide enough bandwidth for VoIP. As a result, a growing number of businesses are switching to VoIP to replace their outdated PSTN phone systems. Switching to VoIP improves call quality and dependability while lowering call and infrastructure costs significantly. For instance, according to vXChnge, a US-based colocation and data center service provider, by 2024 5G networks are projected to cover 40% of the world, handling 25% of all mobile traffic data. Therefore, the growing adoption of 5G technology propels the VoIP market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The voice over internet protocol (voip) market covered in this report is segmented –
1) By Type: Integrated Access Or Session Initiation Protocol (SIP) Trunking, Managed IP PBX, Hosted IP PBX
2) By Access Type: Phone To Phone, Computer To Computer, Computer To Phone
3) By Call Type: International VoIP Calls, Domestic VoIP Calls
4) By Medium: Fixed, Mobile
5) By End User: Consumers, Small And Medium Businesses, Large Enterprises
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Regional Insights –
Asia-Pacific was the largest region in the VoIP market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice over internet protocol (voip) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the voice over internet protocol (voip) market report are Verizon Communications Inc., Comcast Corporation, Orange S. A., AT&T Inc., Charter Communications Inc., Vonage Holdings Corp., Altice USA Inc., Teléfonos de México S. A. B. de C. V., Cox Enterprises Inc., Rogers Communications Inc., Sprint Corporation, TalkTalk Group plc, RingCentral Inc., Patton LLC, San Antonio Telephone Co., OneVoice Communications Inc., Avaya Inc., Cisco Systems Inc., Deutsche Telekom AG, Microsoft Corporation, Mitel Networks Corporation, Nextiva Inc., 8×8 Inc., CallHippo, Dialpad Inc., Evolve IP LLC, Frontier Communications Corporation, Google LLC, LogMeIn Inc., Intermedia. net Inc., MegaPath, Momentum Telecom Inc., NetFortris Inc., Ooma Inc., Star2Star Communications, TPx Communications, T-Mobile US Inc., Telenor ASA, Telecom Italia S. p. A., KT Corporation
Table of Contents
1. Executive Summary
2. Voice over Internet Protocol VoIP Market Report Structure
3. Voice over Internet Protocol VoIP Market Trends And Strategies
4. Voice over Internet Protocol VoIP Market – Macro Economic Scenario
5. Voice over Internet Protocol VoIP Market Size And Growth
…..
27. Voice over Internet Protocol VoIP Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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