Results of a new study by Future Market Insights (FMI) on the VoIP Services market confirms what many have been saying all along – that VoIP’s benefits are still valued and that the market has no sign of slowing.
Voice over Internet Protocol (VOIP) has commanded attention since it was first introduced because it uses broadband and Internet connections to have voice and data communications. While there are numerous ways to have a “VoIP” call – via SIP, RTP, Asterisk (News - Alert), H.323, and more - both corporate to consumer users stand to benefit.
As networks continue to advance and are developed, things like efficiency, cost savings and more streamlined communications are keeping the VoIP Services market on the up.
According to FMI’s report, business users are taking advantage of cloud-based services because it eases the burden of in-house maintenance and manual upgrades and is more cost efficient overall. The report forecasts that by 2020, there will be over 200 billion corporate consumer VoIP subscribers and will account for $86.2 billion in revenue.
Other segments of the VoIP Services market outlined in the repot include:
Computer to computer: Expected to have 72.2 million subscribe and account for 24.74 billion by 2019.
Phone (News - Alert) to phone: These VoIP services are the fastest growing and are expect to reach $56.56 billion with 128.3 million subscribers by 2019.
While the consumer segment has been slower to adopt VoIP services, the report points to an increasing need for long distance calling among a growing immigrant population. Since VoIP calls are much more cost efficient it makes the technology relevant even for the public and consumer space.
We’ll also see some of the telecom regulations going away overtime to help with growth of the VoIP services market and as more companies release offerings both price competitiveness and relevance will continue to keep the VoIP services market going.
Edited by Maurice Nagle