The Business Research Company’s report on the Voice over Internet Protocol (VoIP) Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the voice over internet protocol (voip) market’s growth in recent years?
The growing adoption of 5G technology is expected to drive the growth of the voice over internet protocol (VOIP) market in the coming years. 5G provides faster transmissions, lower latency, and the ability to connect a larger number of devices by providing gigabyte rates, which will provide enough bandwidth for VOIP. As a result, a growing number of businesses are switching to VOIP to replace their outdated PSTN phone systems. Switching to VOIP improves call quality and dependability while lowering call and infrastructure costs significantly. For instance, according to vXChnge, a US-based colocation and data center service provider, by 2024 5G networks are projected to cover 40% of the world, handling 25% of all mobile traffic data. Therefore, the growing adoption of 5G technology propels the VOIP market growth.
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How does the future projection of the voice over internet protocol (voip) market size compare to its historical growth?
The voice over internet protocol (VoIP) market size has grown rapidly in recent years. It will grow from $131.89 billion in 2024 to $147.7 billion in 2025 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to cost savings, mobility and flexibility, evolving consumer preferences, scalability and ease of expansion, increased remote work.
The voice over internet protocol (VoIP) market size is expected to see rapid growth in the next few years. It will grow to $270.05 billion in 2029 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to focus on quality of service, compliance with regulatory standards, voice analytics and business intelligence, energy efficiency measures, focus on user education and training. Major trends in the forecast period include mobile VOIP adoption, web real-time communication, increased focus on security measures, cloud-based VOIP solutions, voice biometrics for authentication, increased integration with collaboration tools.
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Which key players are shaping the future of the voice over internet protocol (voip) market?
Major companies operating in the voice over internet protocol (VoIP) market include Verizon Communications Inc., Comcast Corporation, Orange S. A., AT&T Inc., Charter Communications Inc., Vonage Holdings Corp., Altice USA Inc., Teléfonos de México S. A. B. de C. V., Cox Enterprises Inc., Rogers Communications Inc., Sprint Corporation, TalkTalk Group plc, RingCentral Inc., Patton LLC, San Antonio Telephone Co., OneVoice Communications Inc., Avaya Inc., Cisco Systems Inc., Deutsche Telekom AG, Microsoft Corporation, Mitel Networks Corporation, Nextiva Inc., 8×8 Inc., CallHippo, Dialpad Inc., Evolve IP LLC, Frontier Communications Corporation, Google LLC, LogMeIn Inc., Intermedia. net Inc., MegaPath, Momentum Telecom Inc., NetFortris Inc., Ooma Inc., Star2Star Communications, TPx Communications, T-Mobile US Inc., Telenor ASA, Telecom Italia S. p. A., KT Corporation
What trends will propel the growth and evolution of the voice over internet protocol (voip) market?
Major companies in the voice over internet protocol (VoIP) market are focused on developing advanced cloud-based solutions such as the Evolution of PBX to enhance scalability and reduce operational costs. The evolution of PBX transforms traditional systems into flexible, scalable platforms that support seamless integration with various communication tools. For instance, in March 2024, Bicom Systems, a US-based provider of innovative communication solutions focusing on VoIP technology and unified communication platforms, launched The Evolution of PBXs. A Private Branch Exchange (PBX) system efficiently routes both internal and external calls, connecting callers to their intended recipients through a network of phone lines and telephones. Historically, communication via telephone was costly and cumbersome, as all calls had to go through public exchanges. Bicom Systems has significantly contributed to the evolution of PBX technology, addressing these limitations to enhance ease and affordability.
Which regions are expected to become dominant players in the voice over internet protocol (voip) market?
Asia-Pacific was the largest region in the VOIP market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice over internet protocol (VOIP) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the voice over internet protocol (voip) market, and how are they evolving?
The voice over internet protocol (VoIP) market covered in this report is segmented –
1) By Type: Integrated Access Or Session Initiation Protocol (SIP) Trunking, Managed IP PBX, Hosted IP PBX
2) By Access Type: Phone To Phone, Computer To Computer, Computer To Phone
3) By Call Type: International VoIP Calls, Domestic VoIP Calls
4) By Medium: Fixed, Mobile
Subsegments:
1) By Integrated Access Or Session Initiation Protocol (SIP) Trunking: On-Premises SIP Trunking, Cloud-Based SIP Trunking
2) By Managed IP PBX: On-Premises Managed IP PBX, Cloud-Based Managed IP PBX
3) By Hosted IP PBX: Single-Tenant Hosted IP PBX, Multi-Tenant Hosted IP PBX
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How is the voice over internet protocol (voip) market defined?
Voice over Internet Protocol (VOIP) is a communications technology that enables people to communicate via audio over the internet rather than via a traditional telephone line. VOIP enables making a call directly from a computer or a special VOIP phone.
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