IP Telephony Market with Focus on Emerging Technologies, Regional Trends, Competitive Landscape, Analysis, Industry Growth & Forecasts to 2023
IP Telephony Market to Observe 9% CAGR in the Forecast Period By 2023
Pune, India -- (SBWire) -- 08/22/2018 --Market – Overview:
The need for reliable, secure, and consistent communications services have shaped the market growth of the IP telephony market. Market focused reports connected to the semiconductors & electronics industry among others lately have been made available by Market Research Future which circulates reports on this industry. The market is anticipated to develop with an encouraging CAGR of 9 percent in the duration of the forecast period.
Development of the e-commerce industry, due to increasing consumer demand and higher buying potential has fuelled the growth of the market. The escalating usage of internet based communication has expanded the market scope to a great extent. The need for maintaining seamless communications has been the major motivating factor driving the expansion of the market. Additionally, the cost savings benefit derived from IP telephony has led to increased adoption rates which will benefit the long term growth potential of the market in the upcoming years.
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Major Key Players:
Ascom Holding AG (Switzerland), Avaya Inc. (U.S.), Cisco Systems Inc. (U.S.), Gigaset Communications (Germany), LG Electronics Inc. (South Korea), Mitel Networks Corporation (Canada), Panasonic Corporation (Japan), Polycom Inc. (U.S.), Yealink Inc. (China), NEC Corporation (Japan), Grandstream Networks, Inc. (U.S.) among others, are profiled in Market Research Future analysis and are at the forefront of competition in the global IP Telephony market.
The IP Telephony Market is segmented into the segments of connectivity, organization size, component, and vertical. The component-based segmentation of the market includes softphones, hardware, and services. The hardware segment is further segmented into audio conference phones, IP desktop phones, and DECT phones. Also, the services segment is additionally segmented into professional services and managed services. The organization size based segmentation of the market consists of large enterprises and SMEs. BFSI, healthcare, manufacturing, IT & telecommunication, retail, government, and others are the vertical based segments of the market. The connectivity segment of the IP telephony market is divided into wired and wireless segments.
The IP Telephony Market globally covers regions such as Asia Pacific, Europe, North America, and Rest of the World. The North American region is likely to control the major share of the market, while the Asia Pacific region is likely to develop at a rapid rate during the forecast period. The growth of the market in the North American region is credited to increased adoption of IP telephony applications through various industry verticals, such as healthcare, BFSI, retail, and IT & telecommunication and technological advancements among others.
Global Competitive Analysis:
Companies are constantly trying to create financial leverage, to be better positioned to capitalize on market gains. The mounting interest for expansion within the business has indirectly permitted the businesses to employ several situations attainable in the market. Challengers are also devoting a certain amount in innovation to deliver a certain degree of innovation in the market and grow the avenues for development particularly in the duration of the forecast period. The market trends have also imposed the need to ensure financial sustainability to invest in growth prospects as and when they arise. The objective of the companies in the market to grow their shareholder's value, while improving the capability to power their competitive edge has fuelled the market's growth to a great extent. The probabilities for increasing revenue inflow in the business are expected to multiply through the forecast period.
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Apr 2018 The enterprise communications company, Mitel has been acquired for $2 billion recently. The company announced that it has consented to be acquired by Searchlight Capital Partners in a deal that comprises of an all-cash transaction worth $2 billion following which the company will also be going private. Mitel has established itself as a legacy player in the world of enterprise communications and is well known in the market for its IP telephony solutions, and competes with the likes of Cisco and Avaya. Recently, Mitel has been on a long term mission to reposition itself as an integrated SaaS company which is cloud-based. This deal is a firm move in their multi-year transformation that has allowed Mitel to appear as an industry leader in the main markets around the world.
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