Albany, NY -- (SBWIRE) -- 11/24/2017 -- According to a recent market research report published by Transparency Market Research, the global VoIP services market is expected to expand at a CAGR of 9.7% during the period between 2014 and 2020. The report, titled "VoIP Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020," projects the global VoIP services market to be worth US$136.76 bn by 2020. The market was valued at US$70.90 bn in 2013. The subscriber base for VoIP services is expected to reach 348.5 mn by the end of the forecast horizon.
Browse the full VoIP Services Market (Corporate Consumers and Individual Consumers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at https://www.transparencymarketresearch.com/voip-services-market.html
The report points out that the increasing demand for mobility and adoption of Bring Your Own Device (BYOD) policy across enterprises has led to the increased usage of VoIP services. Technological advancements have propelled the growth of advanced networks, thereby increasing the demand for VoIP services. Owing to cost-efficiency and packaged service offerings, business customers prefer cloud-based VoIP services. Diversification by players in the telecommunication industry to VoIP services has further augmented the growth of the global VoIP services market.
However, low public acceptance for VoIP services will hinder the growth of the market during the forecast horizon. The overall VoIP services market has a huge opportunity to grow with the emergence of mobile VoIP services due to advancement in wireless network technology. The increasing trend of free group video calling and migration from fixed line voice service to IP-based wireless VoIP service will define the future outlook of the market.
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According to configuration, the report segments the global VoIP services market into computer-to-phone VoIP services, computer-to-computer VoIP services, and phone-to-phone VoIP services. In 2013, the computer-to-phone segment accounted for the largest share in the market with 37.9% of the subscriber base. During the forecast horizon, the phone-to-phone or mobile VoIP services segment is projected to experience robust growth at a CAGR of 14.7%.
Depending on call type, the global VoIP services market is categorized into domestic VoIP calls and international long distance VoIP calls. In terms of both revenue and number of subscribers, international long distance VoIP calls dominated the market in 2013. By 2020, the international long distance VoIP calls segment is projected to account for 62.3% of market revenue.
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On the basis of end-users, the report classifies the global VoIP services market into individual and corporate consumers. Corporate consumers are further segmented across services such as managed IP PBX, IP connectivity, and hosted business. In terms of revenue, the hosted business services delivered by VoIP service providers contributed the highest share in 2013.
The report studies the global VoIP services market across four key regions: Asia Pacific, Europe, North America, and Rest of the World. In 2013, Europe dominated the overall market, closely followed by Asia Pacific. However, by 2020, Asia Pacific is estimated to be the leading region in the market owing to its increasing subscriber base. During the forecast period, in terms of revenue, Asia Pacific is projected to grow at a CAGR of 13.6%.
The report profiles some of the key players in the global VoIP services market such as Viber Media Inc., InPhonex LLC, Nextiva Inc., RingCentral Inc., and Microsoft Corporation.