At the close of every year, analysts gather data in various sectors to see what technologies did well and where, and as no surprise, VoIP is still on the upswing. 2013 was a good year for VoIP on the global scale, so says market analysis from Infonetics Research (News - Alert). This bodes well for not only VoIP, but the softswitch market, too.
Key points from the 2013 report include a 30 percent increase in revenue by VoIP and IMS equipment providers last year, compared to 2012. Japan, U.S. and China all held the top spending patterns, as telecommunications for these regions, particularly the latest technologies, is widely popular.
Ovum (News - Alert) is on par with Infonetics Research, although it looks at the market a little differently. The “Consumer OTT VoIP Outlook: 2013 to 2018 forecast” predicts that telecommunications providers will suffer a $386 billion loss between 2012 and 2018 at the hands of over-the-top (OTT) VoIP solutions.
The expected revenue loss for telcos is $63 billion by 2018.
"The use of VoIP will grow increasingly over the next five years to become the underlying technology for delivering voice over telecoms infrastructure," said Ovum principal analyst Emeka Obiodu.
This means good stuff for the softswitch market, too.
Softswitch is a VoIP software database containing users' information and phone numbers. When a VoIP call is placed, the softswitch uses the information to route the call or accept a call through an IP network and PSTN. Having a VoIP softswitch is a significant component of any VoIP business and must be carefully chosen. It works in tandem with other network devices and makes VoIP calling possible.
The growing adoption of VoIP makes it easier for companies to employ more features in their phone systems. The increasing recognition of a need for efficiency with lower costs within an organization is an influence that's helping to drive the acceptance of VoIP in the business world. Based on the aforementioned market analysis, it is clear that VoIP is growing and expanding on the global level.
There is no doubt that the way in which VoIP services are delivered is changing how businesses communicate. With its low costs, the convenience and portability and advanced communication features, VoIP benefits everyone from individuals to small offices and large enterprises.
Edited by Alisen Downey