Global VoIP Services Market Analysis, Trends, Segment & Forecast up to 2021
Deerfield Beach, FL -- (SBWIRE) -- 10/02/2017 -- According to the report, global demand for VoIP services market was valued at over USD 83 billion in 2015, is expected to reach above USD 140 billion in 2021 and is anticipated to grow at a CAGR of above 9.1% between 2016 and 2021. Zion Market Research has published a new report titled "VoIP Services (Domestic VoIP Calls and International Long Distance VoIP Calls) Market by Configuration (Phone-to-Phone, Computer-to-Phone, and Computer-to-Computer) for Hosted Business, IP Connectivity, Managed IP PBX, Individual Consumers and Corporate Consumers: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021."
Voice over Internet Protocol (VoIP) is a form of communication over the phone using the internet. VoIP translate the voice signal from the telephone into a digital signal that travels over the Internet. VoIP service is a wireless technology and calls can be made from a traditional phone, a wireless phone without an adaptor, computer, and tablets among others. VoIP services are distinct in recommendations RFC 2443 and ITU-T H.32x. in order to achieve the purpose of wireless calling, accelerating hardware is used in this technology.
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The demand for the portable device is rising among the individuals and corporate sector resulting into the surge in demand for VoIP services which is driving the growth of VoIP services market. Rapid advancement in network infrastructure and wireless mobile communication spur the demand for VoIP services. Packaged service and cost-efficient factors contribute to the splendid growth of VoIP services market. The VoIP services market is further driven by the competition between the telecommunication participants to continuously update the VoIP services. Yet, regulations led by the government to defend the local telecom services have a major impact on the growth of VoIP services. Low acceptance from the residential sector also hampers the growth of the market. Nevertheless, increasing international calls, due to migration or moving workforce is likely to open growth opportunities for the market in the near future.
Based on the 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 the largest revenue for international long distance VoIP calls. Phone-to-phone, computer-to-phone, and computer-to-computer are the configurations for VoIP services. Among all, the computer-to-computer segment was the leading configuration in 2015 with more than 35% of share. Phone-to-phone is also estimated to show high growth in VoIP services in the coming up years.
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Hosted business, IP connectivity, managed IP PBX, individual consumers and corporate consumers are the key users in VoIP services market. Hosted business held the majority of shares in 2015, in terms of revenue. Managed IP PBX and IP connectivity are likely to experience significant growth within the forecast period.
In 2015, Europe dominated the VoIP services market. With 14% of CAGR Asia Pacific is expected to grow significantly due to escalating use of high-speed communication such as 3G and 4G also modernization in network infrastructure. Latin America, Middle East, and Africa are likely to observe substantial growth over forecast period because of the low price of VoIP services for the individual and corporate users. North America is projected to witness decent growth over the next few years.
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The key participants in the VOIP services market include Viber Media S.r.I., InPhonex LLC, Vonage Holdings Corp, AT&T, Microsoft Corporation (Skype), Avaya, Nextiva, Inc., Sprint Corporation, 8×8 Inc., RingCentral, Inc. and Vonage Holdings Corporation among others. AT&T, Inc. was leading the market with 7% share in total revenue in 2015.
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