Global Voice over Internet Protocol Market is Projected to Register a Healthy CA

Posted by swamiv on February 7th, 2020

Due to high demand and the value of market research for the success of different sectors, voice over internet protocol market report has been prepared by covering many work areas. This is a professional and a complete report focusing on primary and secondary drivers, market share, competitor analysis, leading segments and geographical analysis. This Voice over Internet Protocol market report lets you know that how the market is going to perform in the forecast years by giving you information about market definition, classifications, applications, and engagements. Few of the features such as objectivity have been kept at the centre while obtaining the best result via this Voice over Internet Protocol market report for ICT industry.

Global voice over internet protocol market is expected to register a healthy CAGR of 12.21% in the forecast period of 2019-2026. 

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Market Definition: Global Voice over Internet Protocol Market

Voice over Internet Protocol (VoIP) is defined as the collection of systems which is used as a communication solution for exchange of voice signals and information in real-time with the help of internet. This solution is basically utilized for long-distance calling, but it’s not just limited to voice calling. This system also enables exchange of fax, data, texts over the internet which are all constituted in communication exchange of various organizations and individuals.

Market Drivers:

• Increased awareness and preference for usage of hosted VoIP solutions is expected to augment growth of the market
• Availability of advanced and innovative 5G technology is expected to boost the growth of the market
• Rising focus on better telephonic services and communications systems in various organizations is also expected to foster growth of the market
• Cost-efficiency and effectiveness in comparison to circuit switched network method; this factor is expected to drive the growth of the market

Market Restraints:

• Requirement of consistent high-speed internet service to maintain the optimal quality of this service; this factor is expected to restrict the growth of the market
• Concerns regarding security of information and hacking issues with VoIP; this factor is expected to restrict the growth of the market
• Concerns regarding issues of interoperability of these systems is expected to restrict the growth of the market

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Segmentation: Global Voice over Internet Protocol Market

By Type

• Integrated Access/Session Initiation Protocol (SIP) Trunking
• Managed Internet Protocol (IP) Private Branch Exchange (PBX)
• Hosted Internet Protocol (IP) Private Branch Exchange (PBX)

By Access Type

• Phone-To-Phone
• Computer-To-Computer
• Computer-To-Phone

By Call Type

• International Calls
• Domestic Calls
• Interactive Assessments

By Medium

• Fixed
• Mobile

By End-Use

• Consumer
• Small & Medium Businesses (SMBs)
• Large Enterprises

By Application

• IT & Telecom
• Banking, Financial Services & Insurance (BFSI)
• Healthcare
• Government & Public Sector
• Retail
• Education
• Hospitality

Key Developments in the Market:

• In November 2018, Yellowbus Solutions Ltd. announced that they had acquired Converged Business Solutions established in Warrington, U.K. proving specialised telephony services with a focus on VoIP solutions. This acquisition will help Yellowbus in establishing themselves as a leader in managed solutions provider for small & medium enterprises
• In January 2018, Votacall, Inc. announced that they had acquired Mobiso from Lyrix inclusive of all the patents and infrastructural assets associated with Mobiso. Mobiso is an innovative suite of software products focusing on providing cloud-based speech recognition software which will help in further enhancement of the position of Votacall, Inc. for business-class VoIP

Competitive Analysis

Global voice over internet protocol market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of voice over internet protocol market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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