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VoIP Market Reaches $63 Billion and Should Hit $82.7 Billion by 2017

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April 19, 2013

VoIP Market Reaches $63 Billion and Should Hit $82.7 Billion by 2017

By Mae Kowalke, TMCnet Contributor

Yeah, you could say VoIP is growing.

Global revenues from residential and business voice-over-IP (VoIP) services increased by 9 percent last year, reaching $63 billion, according to a new report by Infonetics Research.

Even more exciting for those who make their living from the industry, the Infonetics (News - Alert) report predicts that the market will increase to $82.7 billion by 2017. That’s some nice growth.

“The market for VoIP services has moved well beyond the early adopter stage to mainstream status in many developed countries. New geographic regions are opening up, and SIP trunking and hosted UC continue to heat things up, fueling growth,” reported Diane Myers, principal analyst for VoIP, UC and IMS at Infonetics.

Rising demand for hybrid solutions on the part of multi-site enterprises is prompting vendors to promote cloud telephony and UC services alongside SIP trunking, Myers added.

Hosted VoIP and UC services have seen the highest growth, according to the report. Revenues attributable to those services rose by 17 percent. This shows the sustained enterprise demand for cloud-based services. SIP trunking jumped an astounding 83 percent compared to 2011.

This is partially explained by the adoption of SIP trunking at multi-site businesses as a cost-cutting move.

This is good news for VoIP and IP communications providers such as REVE Systems. REVE provides a number of VoIP solutions for service providers and carriers.

REVE’s iTel Switch Plus is a carrier-grade softswitch that comes with an integrated billing solution and interactive voice response system. Developed for VoIP service providers with retail and wholesale operations, iTel Switch Plus comes with multi-level reseller support, an easy to use interface and class 4 and 5 softswitch features. Some of what makes iTel Switch Plus unique is its multilayered secured access control that provides both IP and password authentication, and its ability to offer N-level or resellers.

Catering to the mobile VoIP space, REVE also makes it easy for service providers to deliver VoIP on handsets of all types, including Symbian (News - Alert) and Windows Mobile in addition to iOS, Android and Blackberry. Its iTel Mobile Dialer Express is a brandable mobile VoIP solution that quickly and easily lets service providers offer VoIP through a mobile app that is available on all platforms.

The Infonetics report also noted that managed IP PBX (News - Alert) services continue to hold the lead in the VoIP services market. These services focus on dedicated enterprise systems, and revenues generated by managed IP PBX services last year rose by roughly 9 percent.

Edited by Stefania Viscusi

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