The global market for VoIP services should grow from $85.2 billion in 2021 to $102.5 billion by 2026 with a compound annual growth rate (CAGR) of 3.8% for the period of 2021-2026.
This report provides an overview of the global market for VoIP services and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period 2021 through 2026. Revenue forecasts for this period are segmented based on call type, access type, service type, end-use, medium, end-user industry and region.
Voice over Internet Protocol (VoIP) is the digital form of voice communications done using internet networks, and it has replaced analog phone systems. Generally, VoIP uses internet protocols (IPs) to connect Private Branch Exchanges (PBXs), and it is capable of interchanging rich voice, video, and data exchange services.
VoIP uses packet-switched networks to make communication and is seen as the replacement of old Public Switched Telephone Network (PSTN) telephony. VoIP is no longer limited only to voice services and now various multimedia protocols provide video services too.
Despite the havoc and devastation, it caused in other sectors of the global economy, the COVID-19 pandemic has boosted the market for VoIP services, especially in industries such as IT and telecom, BFSI and retail. As a result of pandemic-related lockdowns and restrictions, most companies enabled their employees to work from home, and education institutes also started offering online classes to curb the spread of the virus.
In addition, most of the countries are presently testing the 5G, which will further enhance the connectivity across the industries. Moreover, as the pandemic subsides, a number of companies in the VoIP industry are expected to move their services over to the cloud, and this shift is expected to drive the rapid adoption of cloud-based VoIP services.
It is expected that the adoption of VoIP services will continue even after the pandemic ends. As VoIP had served as a cost-efficient alternative to traditional phone systems, it has played an important role in streamlining business calls and internal communications between co-workers during the pandemic. Thus, it is expected that businesses will continue to use VoIP services in the future.
The report also focuses on the major driving trends and challenges that affect the market and the competitive landscape. It explains the current trends in the VoIP services market, and it concludes with detailed profiles of the major players and strategies adopted by the players to enhance their market presence.
All throughout, the report estimates the global market size for VoIP services in 2020 and provides projections of the expected market size through 2026.
The Report Includes
The corporate VoIP services market should grow from $68.3 billion in 2021 to $83.0 billion by 2026 with a compound annual growth rate (CAGR) of 4.0% for the period of 2021-2026.
The individual VoIP services market should grow from $16.9 billion in 2021 to $19.5 billion by 2026 with a compound annual growth rate (CAGR) of 3.0% for the period of 2021-2026.
Analyses of the global market trends, with data from 2020, estimates for 2021, 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026
Estimation of the market size and market forecast for the VoIP services industry, and corresponding market share analysis by call type, access type, service type, medium, region, end-use, and end-user industry
Highlights of the industry value chain analysis, opportunity assessment, technology updates, and impact of COVID-19 on the progress of this market
Understanding of the upcoming market opportunities and areas of focus to forecasting the market into various segments
Emphasis on major driving trends and challenges affecting the VoIP services market and its sub-segments
Identification of the companies that are best positioned to meet this demand because of their proprietary technologies, strategic alliances, or other advantages
Insight into the recent industry strategies, M&A deals of the major players operating within the global market; their key competitive landscape and company share analysis
Descriptive company profiles of the major market players, including Cisco Systems, Verizon Communications Inc., Microsoft Corp., Zoom Video Communications Inc., Ooma Inc. and RingCentral Inc.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview and Background
What is VoIP?
How Does It Work?
Evolution of VoIP
Main Features of VoIP
Comparison of PSTN vs. VoIP
Advantages and Disadvantages of VoIP
Advantages of Using VoIP Services for Businesses, Consumers and Service Providers
Need for VoIP Classification
How to Choose VoIP Service Providers
Trends in VoIP Services
Unified Communications as a Service (UCaaS)
Advanced Video Conferencing Services
Adoption of BYOD
COVID-19 Impact Analysis
COVID-19 Impact Outlook
Post-COVID-19 Market Analysis
Chapter 4 Market Breakdown by Call Type
Chapter 5 Market Breakdown by Access Type
Computer to Computer
Computer to Phone
Phone to Phone
Chapter 6 Market Breakdown by Service Type
Hosted IP PBX
Managed IP PBX
Chapter 7 Market Breakdown by End-User Type
Chapter 8 Market Breakdown by Medium
Chapter 9 Market Breakdown, by End-User Industry
IT & Telecom
Transportation and Logistics
Military and Defense
Chapter 10 Market Breakdown by Region
Chapter 11 Competitive Landscape
Expansions and Mergers
Agreements, Contracts, Collaborations and Partnerships
Product/Service Launches and Developments
Players' Service Plans and Pricing Outlook
Chapter 12 Company Profiles
ALE International SAS
Cisco Systems Inc.
Mitel Networks Corp.
Phone Power Llc
Rakuten Viber (Viber Media S.A R.L.)
T-Mobile U.S. Inc.
Verizon Communications Inc.
Vonage Holdings Corp.
Zoom Video Communications Inc.
For more information about this report visit https://www.researchandmarkets.com/r/t8tzw9
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005714/en/
Laura Wood, Senior Press Manager
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