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New Report Looks at VoIP Services Market

VoIP Gateways Article

New Report Looks at VoIP Services Market

June 16, 2017

  By Frank Griffin, Contributing Writer

One of the biggest selling points of Voice over Internet Protocol (VoIP) when the technology became available was the cost, which, by the way, is still a significant factor. But the competitive pricing is now backed by a full suite of features with enterprise grade communications solutions. This has increased the adoption rate of VoIP by both consumers and organizations, growing the market to billions of dollars annually. A report by Future Market Insights (FMI) looks at the VoIP service market with a global industry analysis and opportunity assessment from 2015 – 2025 to see what is driving it, the challenges it faces, market trends and structure.

According to FMI, the VoIP services market is being driven by industry players whose goal is to push the technology across all sectors. This push is responsible for developments in the technology and infrastructure needed to deliver VoIP solutions, such as networks and cloud-based models.

Infrastructure development is also one of the challenges for VoIP, especially in developing nations as the saturation points in developed countries fast reach their limits and service providers look for new markets. Some additional challenges, as reported by FMI, include public acceptance in the residential consumer segment and regulations designed to protect local telecoms. However, these are obstacles that are being overcome with better technology and low prices, which is driving the growth of VoIP.

Change in technology is one of the factors responsible for the growth, as service providers transition from circuit-switched networks to packet-switched networks such as 3G and 4G cellular networks. The companies offering services are using the networks to deliver mobile VoIP as more consumers cut their landline services and make mobile their primary telephony solution.

In terms of market size, the U.S. is still the largest region. The report has segmented the customer base in the U.S. into corporate consumer, computer to computer, phone to phone and individual consumer. In each segment, FMI reports growth in terms of revenue and subscriber base, with individual consumers experiencing the fastest growth. 

The firm said, “FMI has studied the VoIP services market and provides a detailed analysis, offering an understanding of the driving forces behind the popularity of these services in the global communication industry. The report also provides analysis of the major sub-segments of the global VoIP services market for the next six years, including details of the industry drivers, restraints, market trends and market structure.”

Edited by Alicia Young

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