B2B Articles - July 11, 2016
Voice over internet protocol (VoIP) technology is allowing operators to provide cheaper communication services to an ever-expanding global consumer base. With VoIP systems, voice signals are converted into digital signals carried over the IP-based network. Businesses, regardless of size, can benefit from efficiently merging voice and data functions and gaining innovative communications features with their VoIP service provider handling hosting, updating and troubleshooting.
Technological advancements and increased usage of the new services over various networks is driving global VoIP services market growth. In 2012, the corporate consumer VoIP market registered 98.9 billion subscribers, accounting for US $43.27 billion in global revenues, according to Future Market Insights (FMI). The research firm forecasts an increase to around 204.8 billion corporate consumer users by 2020, accounting for US $86.20 billion in global revenues.
Offering similar, if somewhat lower, numbers Persistence Market Research, forecast a US $94.1 billion by 2016 increasing to US $194.5 billion by 2024 globally.
Business VoIP services are a driving force in the market. According to Infonetics’ Senior Research Director, “On the residential side, subscribers continue to grow, but revenue has fallen off as VoIP services are included in triple-play packages for almost no cost in many parts of the world.”
Consider these industry snapshot statistics in looking to understand the global revenue growth for this horizontal market.
Robust growth in the VoIP market reflects a shift from legacy circuit-switched networks to packet-switched networks. VoIP marketing teams must recognize the opportunities in this market shift while planning to apply data-driven strategies for generating qualified leads and driving conversions.
1. BuddeComm Intelligence Report - VoIP and Mobile VoIP Statistics and Insights
Synopsis. (n.d.). https://www.budde.com.au/Research/BuddeComm-Intelligence-Report-VoIP-and-Mobile-VoIP-Statistics-and-Insights.html
2. Data volume of global VoIP service traffic from 2011 to 2016 (in petabytes per month). (n.d.). https://www.statista.com/statistics/267183/forecast-for-the-worldwide-voip-traffic/
3. Global VoIP Services Market Poised to Surge from USD 83 Billion in 2015 to USD 140 Billion by 2021. (2016, May 3). https://Global-VoIP-Services-Market-Poised-to-Surge-from-USD-83-Billion-in-2015-to-USD-140-Billion-by-2021-MarketResearchStore-Com.html
4. IbisWorld. (2015, December). VoIP in the US: Market Research Report. https://www.ibisworld.com/industry/default.aspx?indid=1269
5. Persistence Market Research. (2016, May). VoIP Services Market. https://www.persistencemarketresearch.com/market-research/voip-services-market.asp
6. Voice over IP Data Analysis, Market Research & Trends. (n.d.). https://www.google.com/#q=voip%20industry%20statistics&rct=j
7. VOIP Services Market: Global Industry Analysis and Opportunity Assessment 2015 - 2025. (n.d.). https://www.futuremarketinsights.com/reports/global-voip-services-market
8. Infonetics Research. (2015, May 8). In VoIP services market, business segment offsets residential slowdown. https://www.infonetics.com/pr/2015/VoIP-UC-Services-Subs-Market-Highlights.asp
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