Voice Over Internet Protocol Market will Hit Big Revenues in Future 2021-2027

By Ronak Bora

Voice over Internet Protocol market systems offer many benefits such as low data rates and inexpensive calling prices. Factors like very low international call rates, no maintenance contracts, free calling between employees, and inexpensive monthly/annual plans are largely helping enterprises to reduce their operational cost. VoIP systems handle several kinds of media other than voice, including text, image transfer, video calls, and video transfer, while enabling low-cost enterprise communication.
Rising trend of workforce mobility to enhance collaborations and communication among remote users and employees could subsequently drive Voice over Internet Protocol market expansion over the coming years. Government institutions and public sector companies are advancing their communication infrastructure in an effort to deliver reliable services to citizens. There is a growing usage of cloud-enabled communication platforms by government agencies for inclusion of a cost-effective way to manage and deploy distributed phone systems and contact centers.
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Computer to computer VoIP calling is the most common method used by organizations. Users need an internet connection and the necessary hardware device to support voice communication in computer to computer calls. VoIP calls can be made only if both user’s computers have the same voice communication software like Facebook Messenger and Skype.
Firms specializing in VoIP services are developing new solutions and technologies for diverse industries. In 2021, leading Canadian medical network, the Ottawa Hospital announced their plans to shift to digital workspace solutions with the help of Citrix Systems to offer reliable, simple, and secure access to resources that employees require to deliver enhanced care to patients.
GMI, Inc., reports that the Voice over Internet Protocol market may surpass USD 95 billion by 2027.
Elaborated below are some of the trends that may propel VoIP market outlook:
    	
  1. Robust adoption of managed IP PBX
Surging requirement for outsourcing management of enterprise communication will drive the deployment of managed IP PBX service. It is speculated that the managed IP PBX solution segment might register a CAGR of above 15% over the forecast period. Managed IP PBX helps decrease financial risks and enables customers to obtain technical expertise knowledge from specialists in maintaining and deploying the technology. Activities related to PBX management such as troubleshooting, configuration, and updating are conducted by service providers.
    	
  1. Rising popularity of residential VoIP in consumer section 
Residential VoIP is becoming popular as it is cost-effective and provides multiple services which are not available with landlines. Several residential customers are shifting from traditional landlines to VoIP as it includes unlimited calling and various free features like call forwarding, caller ID, and call waiting. These features are generally charged by traditional phone companies.
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  1. Europe emerging as a promising business ground
The Europe Voice over Internet Protocol market is estimated to record decent growth credited to large-scale acceptance of remote working and availability of high-speed internet. The extensive coverage of 4G LTE network throughout the region is expected to drive industry progress. Enterprises are now able to extend their reach globally as employees are working remotely from different locations. VoIP solutions are giving the opportunity to manage enterprise communication at a lower cost and better speed compared to traditional PSTN network.
Table of Contents (ToC) of the report:
Chapter 1   Methodology & Scope
1.1    Scope & definitions
1.2    Methodology and forecast parameters
1.3    Region-wise COVID-19 impact
1.3.1    North America
1.3.2    Europe
1.3.3    Asia Pacific
1.3.4    LATAM
1.3.5    MEA
1.4    Data Sources
1.4.1    Secondary
1.4.2    Primary
Chapter 2   Executive Summary
2.1    Voice over Internet Protocol market 360º synopsis, 2016 – 2027
2.2    Business trends
2.3    Regional trends
2.4    Type trends
2.5    Access type trends
2.6    Call type trends
2.7    Medium trends
2.8    End-use trends
2.9    Application trends
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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