VoIP Blog

VoIP Market 2016

Jan 13 2016

VoIP market 2016

VoIP arrived to the market around 1990 with a very slow adoption rate which was increased year by year arriving to an unparalleled growth in 2015 which makes the market  very optimistic for the upcoming years.

New report shares details about the VoIP services market: lot's of countries offers tremendous opportunities for VoIP service providers. The VoIP services finds its application across end-use segments such as residential (consumer market), mobile network providers and corporate. Business consumers are adopting the cloud based hosted business solutions which are cost effective and offer high quality of service. The network advancement in emerging economies such as India, Brazil, Indonesia and China among others offers tremendous opportunities for the VoIP service provider to widen their subscriber base. However the lack of awareness among the residential consumer segment and lack of promotional activities by VoIP service providers is posing challenge for the growth of the market.

A growing number of businesses are set to utilize VoIP services, according to a report. Analysis published by Morning Markets revealed that 65% of firms expect to utilize VoIP in some form by 2016. Many cited the flexibility of VoIP products and the cost savings as the primary reasons for its adoption. The most common forms of VoIP services are on-premise (the equipment is physically located in your office) and cloud-based (which means that it works via the internet). Some 23% of households use VoIP, while 42% of firms use it. Its figures also showed that the global business and residential VoIP services market grew about 8% from 2012 to 2013 to $68 billion in revenue.

A separate forecast predicted that VoIP is set to become even more popular as time goes on. It said that the VoIP market will reach $88 billion in revenue. The VoIP market revenue has a 44% increase since 2011 and will continue to grow. The trends in 2016 will become more and more focused on WebRTC, cloud and mobile as people will become increasingly dependent on mobile devices and 40% of the homes no longer utilize a landline. Providers will spend more to fulfill user demands for availability, quality and functionality.