Research Nester released a report titled “VoIP Services Market: Global Demand Analysis & Opportunity Outlook 2030”which delivers detailed overview of the global VoIP services market in terms of market segmentation by type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global VoIP services market is projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030, on account of the rise in adoption of cloud-based VoIP services by many enterprises, and the growing necessity to enhance organizational productivity and efficiency. In addition, VoIP services offer various economic communication solutions for businesses such as audio and video conferencing, screen-sharing, interactive voice response, automated attendants, and others.The growing integration of internet technologies is also projected to contribute majorly to the market growth in the upcoming years.
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The market is segmented by type and end-user. By type, the SIP trunks segment is anticipated to hold the largest share by the end of the forecast period owing to the diverse applications of SIP trunks, such as allowing VoIP users to benefit from shared lines and increase their communication flexibility. Furthermore, on the basis of end-user, the IT & telecom segment is expected to grow significantly in view of the rapid rise in the use of VoIP services in the IT & telecom industry for solving customer queries efficiently, evaluating key metrics using call analytics, and handling high call traffic.
On the basis of region, the global VoIP services market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, Asia Pacific’s market is projected to grow at the highest CAGR throughout the forecast period owing to the rise in the number of users of smartphone and internet, and escalating emphasis of businesses to provide mobile VoIP solutions in China and India. Moreover, the market in North America is anticipated to hold the largest share during the forecast period attributing to the adoption of VoIP services at a relatively higher pace by education, healthcare, and other end-users in the region.
Rise in Adoption of Cloud-Based VoIP Services by a Wide Range of Enterprises to Drive Market Growth
Globally, there have been concentrated efforts at the governmental level to encourage developments in wireless communication infrastructure, including the adoption of hybrid cloud communication utilizing the growing internet penetration. Companies are deploying VoIP services to increase productivity and agility within the organization and ensure secure communication. These are considered to be the crucial factors expected to boost market growth in the upcoming years.
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However, the doubts related to data privacy and service quality are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global VoIP services market, which includes company profiling of AT&T Inc., Avaya Inc., Cisco Systems, Inc., Microsoft Corporation, Nextiva, Inc., Deutsche Telekom AG, Orange Business Services, 8×8, Inc., RingCentral, Inc., and others. The profiling enfolds key information of the companies, which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts detailed overview of the global VoIP services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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