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This market research report identifies suppliers like Avaya, Microsoft Skype, Viber Media, and Vonage to be the key vendors in the global VoIP services market. It also presents a detailed segmentation of the global VoIP services market worth by call type (international and domestic), by configuration (phone- to-phone, PC-to-phone, and PC-to-PC), by end-user (corporate and individual), and by geography (the Americas, APAC, and EMEA).
Technavio’s market research analyst predicts the global voice over internet protocol (VoIP) services market size to grow steadily at a CAGR of around 10% by 2021. One of the primary drivers for the VoIP services market growth is the rise in the adoption of the bring your own device (BYOD) policy among organizations across the globe. Constant changes in work locations, time zone barriers, and the need to access official and confidential data through an employee’s personal device are resulting in the adoption of BYOD policies. Moreover, employees prefer these policies as they enable them to use one device for both personal and professional use. BYOD applies to smartphones, laptops, and tablets. In 2015, smartphones held the majority of the revenue share in the global BYOD market. This can be attributed to the fact that the mobile developers are developing mobile apps that are compatible with popular programs, such as Microsoft Excel, Microsoft PowerPoint, and Microsoft Word.
In terms of geography, EMEA accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years, as per the VoIP services market forecast report. The primary reason for this growth is the constant effort made by the telecom service providers to improve the performance of network connectivity to enhance user experience. The mass deployment of advanced LTE networks is expected to trigger an increase in demand for connectivity in the EU. Also, strategic alliances between telecom companies, such as Telit and Telefonica, to offer premium connectivity solutions to small and medium-sized enterprises (SMEs) is also boosting market growth.
According to the global market for VoIP service market research report, this industry is expected to witness intense competition during the forecast period. The primary reason for this intense competition is the changing usage patterns of customers. The key factors influencing competition among the VoIP providers in this market primarily depends on the volume of business (count of subscribers), quality of service, and price tariffs. Due to the presence of low entry barriers, many start-ups have been highly focused on this market. With vendors increasing their focus on various marketing strategies like smart pricing and collaborations with OEMs, the competition in the VoIP service market is expected to increase over the forecast period.
Some of the leading vendors in the market are –
The other prominent vendors in the VoIP services market include 8x8, Apple (FaceTime), BigAnt, Cisco (Jabber), Facebook, Google (Hangouts), HipChat, IBM (Sametime), InPhonex, Kakao Japan, Kosmaz Technologies (VoIP), Line, magicJack, Nextiva, One Horizon Group, RingCentral, Talk360, TATA Communications, Telefonica (Tu Me), Tencent (WeChat), T-Mobile, and Vyke Telecoms.
During 2016, the international call segment dominated the VoIP services market and accounted for a major part of the overall market share. Factors such as high-quality global IP calling feature at lower rates compared to traditional carrier rates propelled the market growth of this segment. Owing to this low-cost feature, customers have been adopting Internet calling services globally. The proliferation of mobile phones in the emerging markets will fuel the demand for VoIP services during the forecast period.
In this market study, analysts have estimated the corporate segment to dominate the VoIP services market during the forecast period. During 2017-2018, the market growth rate may be moderate and is expected to grow rapidly post 2018. Business organizations attempting to reduce costs through the implementation of VoIP systems is considered to be the key factor for the dominance of this segment in the VoIP market. Globally, major start-ups and SMEs have adopted VoIP communications in their daily activities, which boosts employee productivity through the real-time transfer of data from remote locations. Additionally, organizations use VoIP systems to conduct video conferences and webinars as well.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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