Voice over internet protocol (VoIP) is a methodology in which several technologies are used to offer communication services over IP data network. VoIP refers to transformation of voice signals into digital data over the internet. VoIP uses internet as telephony network. A regular telephone, mobile phone, computer or VoIP phone can be used to make a call. VoIP services are distributed through various services such as the public switched telephone network (PSTN) and cable infrastructures. Power lines, wireless infrastructures and satellite are the other delivery providers. To implement VoIP services, several protocols are used such as inter asterisk exchange (IAX), media gateway control protocol (MGCP), real time protocol (RTP), session initiation protocol (SIP) and H.323 among others. The key benefit of VoIP service is its cost effectiveness. VoIP can also provide phone number portability and rich media services. Moreover, VoIP offers features such as user control interface, integrated applications, service mobility and other features. It is easy to use, install and troubleshoot VoIP services.
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The increase in demand for technological development in network structures, mobile communication and high performance ratio is the key driver for the rising demand for the global VoIP services market. Rising bring your own device (BYOD) popularity coupled with diversification of telecom service providers to VoIP services is expected to drive the global VoIP services market in the near future. Furthermore, the global VoIP services market is motivated by technological advancements. The use of portable devices such as tablets and smartphones has also led to the growth of global VoIP market. VoIP services are economical for both individual and corporate customers. Moreover, VoIP services helps the corporate customers to save the operational cost that is spent on acquiring the traditional communication services. Due to packaged service offerings and cost efficiency, business customers are opting for cloud based VoIP services. Also, telecommunication companies are offering VoIP services their customers constantly, creating a demand for global VoIP market.
The global VoIP services market is segmented by configuration into computer to computer, phone to phone and computer to phone. Computer to phone configuration segment is currently dominating the global market for VoIP services, whereas, with the rising demand for flexibility among residential and corporate consumers, the growth for phone to phone VoIP segment is expected to increase. The global VoIP services market is further segmented by call type includes domestic VoIP calls and international long distance calls. Another segment by which the global VoIP services market is bisected is by the end-users, which include corporate consumers, individual consumers and hosted business. The global market for VoIP services is further bifurcated on the basis of region it can be bisected into North America, Europe, South America, Asia Pacifica and Middle East & Africa.
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Low acceptance of VoIP services by residential customer segment acts as a restraint in the growth of the global VoIP services market. The constant growing need to make long distance or international calls due to migrating population or moving work force will led to public acceptance and increase in the growth of the market. Also, regional governments of developing economies are implementing certain policies and regulations to safeguard telecom industry which is hampering the growth to the large extent. The global VoIP services market is dominated by Europe, in both revenue as well as subscriber base. APAC is the second largest market after Europe and is expected to grow in the forecasted period due to introduction of 3G and 4G services by communication networks and also, due to expansion of network infrastructure.
Some of the chief players operating in the global VoIP services market includes Vonage Holdings Corp., Microsoft Corporation (Skype), 8×8, Inc., Sprint Corporation, Nextiva, Inc., RingCentral, Inc., Viber Media S.r.l, InPhonex LLC and iNet Telecom Ltd. among others.
Few Key Points from Table of Content
Global Voice over Internet Protocol Market Revenue and Forecasts to 2025 – Configuration
Global Voice over Internet Protocol Market Revenue and Forecasts to 2025 – Call Type
Global Voice over Internet Protocol Market Revenue and Forecasts to 2025 – End-users
Global Voice over Internet Protocol Market Revenue and Forecasts to 2025 – Geographical Analysis
Global Voice over Internet Protocol Market, Key Company Profiles Included Key Facts, Business Description, Financial Overview, SWOT Analysis and Key Developments
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