VoIP Services Marketby Steven S. Researcher
Global demand for VoIP services market was valued at over USD 83 billion in 2015 and is expected to reach USD 140 billion in 2021, growing at a CAGR of above 9.1% between 2016 and 2021. Recommended Features
- Domestic VoIP Calls
- International Long Distance VoIP Calls
- Hosted Business
- IP Connectivity
- Managed IP PBX
Review on VoIP Services MarketVoIP (Voice over Internet Protocol) is a communication method of voice transfer by utilizing the internet. VoIP services is emerging as attractive communications alternative for customers. Broadband phone service, Internet telephony, IP telephony, broadband telephony is the terms associated with the VoIP services. Infrastructure cost can be reduced as voice and data communications can be run over a single network.
Growing technological advancement for development of network infrastructure and wireless mobile communication majorly drives the VoIP services market. Rise in number of portable device customers, has led the demand for VoIP services. Attributes such as packaged services and the rising demand for portable device is increasing across the individuals and corporate sector resulting into the spurt in demand for VoIP services. Constantly updating services by telecommunication players generates healthy competition among players contributing to escalating demand for VoIP services. However, the lack of acceptance from the local sectors poses impact on the growth of the VoIP services market. Strict rules and regulation from the government to save the local telecom services hinder the growth of market. VoIP services market likely to open new market avenues in the near future owing to moving work force or migration and increasing the international calling.
Based on type, the VoIP services market can be segmented into domestic VoIP calls and international long distance VoIP calls. International long distance VoIP calls emerged as the leading segment with 52% of total revenue share in 2015 and are further expected to rise to 62% in forecast period due to expanding globalization between the business organizations across different industries. Commercial clients in Europe and North America have largest revenue for international long distance VoIP calls. Phone-to-phone, computer-to-phone and computer-to-computer are the configurations for VoIP services.
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Created on Jun 10th 2016 07:45. Viewed 526 times.
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