Voice Over Internet Protocol (VoIP) Market By Call Type (International Call, Domestic Call), By Service (SIP Trunking Service, Hosted Business IP PBX Service, Managed IP PBX Service, Other Services), By User (Corporate User, Individual User) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2023

Voice over Internet Protocol (VoIP) has become a mainstream technology in the communication industry, with major industry verticals bringing in-house real-time communication solutions and services. The growing adoption of hybrid cloud-based communication models in mid and large-sized enterprises is boosting the growth of the VoIP market across the globe. Additionally, low maintenance and operational costs, supplemented by minimum staff support and enhanced flexibility and scalability, are expected to have a positive impact on the overall market growth during the forecast period.

Furthermore, rising social media usage and internet penetration in developing regions such as Asia Pacific and Latin America are expected to drive growth in the VoIP market in these regions. However, a lack of efficient networking infrastructure and low adoption of VoIP services among individual users and small businesses are expected to limit market growth to some extent.

Report Scope

This report analyses the global VoIP market in terms of call type, service, user, and geography. The global VoIP market has been segmented based on call type into international and domestic calls. On the basis of service, the global VoIP market is segmented into SIP trunking service, hosted business IP PBX service, managed IP PBX service, and other services. Based on users, the market is bifurcated into corporate users and individual users. The global VoIP market covers major geographies such as North America, Europe, Asia Pacific, and the Rest of the World.

Major players in the VoIP market are concentrating on entering strategic partnerships to introduce advanced services for end-user organizations and individuals. This helps key vendors enhance their industry presence. Also, acquisitions and mergers are other major strategies followed by major vendors in the global VoIP market.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled "Global VoIP Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global VoIP market.

Target Audience

  • Industry Investors
  • VoIP service providers
  • Communication Service Provider
  • Government Agencies

On the basis of access type, the global VoIP market is categorized into the following segments:

  • Telephone to Telephone
  • Computer to computer
  • Phone to Computer

In 2015, the largest access type was computer to phone, with a value of US$ XX Mn. The segment accounted for more than 40% market share in the same year. Enterprises are increasingly using VoIP services for communicating with customers from computers over smartphones and tablets to solve customer queries or promote their offerings.

As a result, the segment controls the lion's share of the global VoIP market. Computer-to-phone was the second-largest segment in the same year. However, phone-to-phone is projected to be the fastest-growing segment between 2016 and 2023, expanding at a CAGR of over 11%. Growing adoption of 4G technology-enabled smartphones and tablets is expected to boost segment growth over the forecast period.

On the basis of users, the global VoIP market is categorized into the following segments:

  • corporate users (large, midsized, and small-sized enterprises)
  • Individual User

In terms of value, the corporate segment dominated the global VoIP market in 2015. The segment accounted for more than half of the market share and is expected to grow at a significant CAGR during the forecast period. Enterprises across the globe are increasingly inclined towards deploying VoIP solutions that offer organizations advanced features such as real-time video and audio conferencing, PBX capabilities, and automated attendant services. This is expected to accelerate the growth of the global VoIP market. However, individual segments are projected to expand at the highest CAGR over the forecast period, 2016–2023. This growth is mainly attributed to the growing adoption of smartphones, tablets, and laptops among individuals in developing regions.

On the basis of geography, the global VoIP market is segmented into the following regions and countries:

  • North America
  • U.S.
  • Canada
  • Europe
  • United Kingdom
  • France
  • Germany
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
  • Rest of the World
  • Latin America
  • Middle East and Africa

The global VoIP market is projected to witness steady growth in terms of revenue throughout the forecast period, driven by an increasing number of startups across the globe. Among regions, Europe dominated the overall VoIP market in terms of revenue generation in 2015. In the same year, the region accounted for more than 30% of the market. This is mainly attributed to the increasing number of VoIP subscribers in the region.

Asia Pacific was the second-largest regional market, holding a major chunk of the market's revenue. Rising mobile device adoption and internet penetration are propelling regional VoIP market growth. Additionally, Asia Pacific is expected to witness the highest CAGR over the forecast period owing to the increasing adoption of real-time communication software among small and midsized enterprises in major Asian countries such as India and China.

Frequently Asked Questions:

The market for Voice Over Internet Protocol (VoIP) Market is expected to reach US$ XX Bn By 2023.

The Voice Over Internet Protocol (VoIP) Market is expected to see significant CAGR growth over the coming years, at 5%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Vonage Hodling Corp, Ring Central Inc., Verizon Communication Inc., Thinking Phone Networks Inc. are some of the major players in the global market.

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Published Date:  Jan 2017
Category:  Technology & Media
Report ID:   58322
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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