What Has Been the Growth Trajectory for the Voice over Internet Protocol (VoIP) Market in Recent Years?
The voice over internet protocol (voip) market has seen considerable growth due to a variety of factors.
• The market size of Voice over Internet Protocol (VoIP) has seen significant expansion recently. Forecasts indicate that the market value will increase from $131.89 billion in 2024 to $147.7 billion in 2025, representing a Compound Annual Growth Rate (CAGR) of 12.0%.
This substantial increase during the historic phase can be linked to factors such as cost-effectiveness, adaptability and flexibility, changing consumer attitudes, scalability, simplified expansion and a surge in remote work.
How Does the Forecast Look for the Voice over Internet Protocol (VoIP) Market?
The voice over internet protocol (voip) market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the voice over internet protocol (VoIP) is projected to experience substantial expansion in the upcoming years, escalating to $270.05 billion in 2029, with a compound annual growth rate (CAGR) of 16.3%.
The anticipated growth during the forecast period can be attributed to factors such as emphasis on service quality, regulatory standards compliance, voice analytics, business intelligence, energy efficiency measures, and an increased focus on user education and training. The forecast period is also expected to witness trends like the adoption of mobile VOIP, the rise of web real-time communication, heightened focus on security measures, the prominence of cloud-based VOIP solutions, the use of voice biometrics for authentication, and increased integration with collaboration tools.
What Are the Critical Driver Fuelling the Voice over Internet Protocol (VoIP) Market's Growth?
The expected surge in the adoption of 5G technology is set to fuel the expansion of the voice over internet protocol (VOIP) market in the upcoming years. The advent of 5G ensures quicker transmissions, reduced latency, and supports the connection of an ample number of devices with its ability to deliver gigabyte rates, creating adequate bandwidth for VOIP. Consequently, an increasing array of businesses are transitioning from their obsolete PSTN phone systems to VOIP. This switch significantly enhances call quality and reliability while also considerably reducing call and infrastructure costs. For example, data from vXChnge, a colocation and data center service provider based in the US, predicts that by 2024, 5G networks will span 40% of the globe, managing 25% of all mobile data traffic. Hence, the steadily rising adoption of 5G technology spurs the growth of the VOIP market.
How Is the Voice over Internet Protocol (VoIP) Market segmented?
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
Subsegments:
1) By Integrated Access Or Session Initiation Protocol (SIP) Trunking: On-Premises SIP Trunking, Cloud-Based SIP Trunking
2) By Managed IP PBX: On-Premises Managed IP PBX, Cloud-Based Managed IP PBX
3) By Hosted IP PBX: Single-Tenant Hosted IP PBX, Multi-Tenant Hosted IP PBX
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What New Trends Are Influencing the Voice over Internet Protocol (VoIP) Market?
Major corporations in the VoIP field are concentrating on creating sophisticated cloud-based solutions like the Evolution of PBX in order to increase their scalability and decrease their operational expenses. The transformation of PBX converts traditional systems into adaptable, scalable frameworks that are capable of smoothly integrating with a variety of communication tools. For example, Bicom Systems, a U.S. company specializing in cutting-edge communication solutions with a focus on VoIP technology and cohesive communication platforms, unveiled The Evolution of PBXs in March 2024. The PBX system efficiently directs both internal and external calls, linking callers with their recipients through a telecommunication network. In the past, phone communication was costly and difficult, since all calls had to pass through public exchanges. Bicom Systems has played a significant role in advancing PBX technology, tackling these constraints to improve convenience and cost-effectiveness.
Who Are the Key Players in the Voice over Internet Protocol (VoIP) Market?
Major companies operating in the voice over internet protocol (VoIP) market include:
• 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.
• 8x8 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
What Is The Most Dominant Region In The Voice over Internet Protocol (VoIP) Market?
Asia-Pacific was the largest region in the VOIP market in 2024. 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
