Voice over Internet Protocol (VoIP) Market Insights, Size, Demand, and Share 2024-2033

Overview and Scope

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.

Sizing and Forecast

The voice over internet protocol (voip) market size has grown rapidly in recent years. It will grow from $119.14 billion in 2023 to $134.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%.  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 $229.83 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%.  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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Segmentation & Regional Insights

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

5) By End User: Consumers, Small And Medium Businesses, Large Enterprises

Asia-Pacific was the largest region in the VoIP market in 2023. 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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Major Driver Impacting Market Growth

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.

ey Industry Players

Major companies operating in the voice over internet protocol (voip) market report are 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

The voice over internet protocol (voip) market report table of contents includes:

1. Executive Summary
2. Voice over Internet Protocol (VoIP) Market Characteristics
3. Voice over Internet Protocol (VoIP) Market Trends And Strategies
4. Voice over Internet Protocol (VoIP) Market – Macro Economic Scenario
5. Global Voice over Internet Protocol (VoIP) Market Size and Growth

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31. Global Voice over Internet Protocol (VoIP) Market Competitive Benchmarking
32. Global Voice over Internet Protocol (VoIP) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Voice over Internet Protocol (VoIP) Market
34. Voice over Internet Protocol (VoIP) Market Future Outlook and Potential Analysis
35. Appendix

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Top 5 Major Key Players Are:

• Verizon Communications Inc
• Comcast Corporation
• Orange S. A
• AT&T Inc
• Charter Communications Inc

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