By now it should come as no surprise—particularly to business VoIP providers—that VoIP adoption rates are rising around the world. The demand for cheap and effective communication on an international scale is growing. Communication borders are shrinking, as is the business world, and IP-based networks are increasingly stepping in to provide better wireless and wired network infrastructures. While traditional phone lines offer only limited, and typically expensive, services to businesses, VoIP services can accommodate mobile and international workforces with ease—and for less of a financial investment.
Transparency Market Research recently released a study, titled “VoIP Services (End-use – Corporate Consumers and Individual Consumers) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” which provides an in-depth analysis of the VoIP market and related sub-segments. The research firm found that, overall, the VoIP services market is expected to see continuous growth in the coming years. This growth is driven by factors such as cost effectiveness, VoIP’s ability to improve network infrastructure globally, as well as rising demand for smart devices and mobility among the corporate and individual consumers.
The report also notes that increasing competition among telecommunication service providers and Internet service providers is leading to a much bigger push for product and service differentiation across all segments of the VoIP industry, which in turn bolsters VoIP market growth even more. The trend in recent years has been for businesses of all shapes and sizes opting to transition from traditional telephony, using CDMA or GSM, to VoIP services over cellular networks such as 3G and 4G. These report findings seem to line up well with the mobile market trends occurring simultaneously, which is to say that businesses are wanting to go mobile, and going mobile means going VoIP.
“Rising demand for affordable communication services across the globe and improving wireless and wired network infrastructure is fuelling the growth of VoIP services market,” the report notes. “These services provide features such as rich media and voice quality and phone number portability. Moreover, VoIP is capable of providing service mobility, integrated applications, user control interface and other rich features. VoIP services are easy to install, use and troubleshoot.”
Business VoIP providers should sleep easy this holiday season knowing that the future of VoIP looks very bright in the coming New Year.
Edited by Maurice Nagle