Voice Over Internet Protocol (VoIP) Market - Global Industry Analysis

Voice Over Internet Protocol (VoIP) Market

Voice Over Internet Protocol (VoIP) Market – By Call Type (International VoIP Calls and Domestic Calls); By End-Use (Individual Users, Large & Giant Firms, and Small & Medium Enterprises), By Application (IT & Telecom, Healthcare, Education, Hospitality, BFSI, Public Sector, and Retail); and by Region¬–Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026

Published Date: 07-May-2021 Category: Technology & Media Report Format : PDF Pages: 150 Report Code: ZMR-6224 Status : Published

The global Voice Over Internet Protocol (VoIP) Market, which was estimated at 28 (USD Billion) in 2019 and is anticipated to accrue earnings worth 36 (USD Billion) by 2026, is set to record a CAGR of nearly 14.5% over 2020-2026.

Voice Over Internet Protocol (VoIP) Market

Description

The global Voice Over Internet Protocol (VoIP) Market, which was estimated at 28 (USD Billion) in 2019 and is anticipated to accrue earnings worth 36 (USD Billion) by 2026, is set to record a CAGR of nearly 14.5% over 2020-2026. The report offers valuation and analysis of Voice Over Internet Protocol (VoIP) Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Report Scope : 

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Voice over Internet Protocol (VoIP) Market Insights

VoIP helps an individual make voice calls over internet. Moreover, WhatsApp calls, Skype Calls, and Google Voice Calls are some of the best examples of voice over internet call services. Apparently, wireless networks at hospitals, clinics, cafes, railway stations, and airports provides an individual with the facility of Voice calls over internet through use of wireless VoIP service  available & accessible at these locations. Reportedly, a large chunk of population in the range of 18-35 years across both the developed & aspiring countries make use of  voice over internet protocol services across the globe. The reason being that internet technologies are highly popular among these young customers and are available at reasonable costs.

Voice over Internet Protocol (VoIP) Market Drivers

VoIP offers more benefits as compared to conventional phone and this will drive market trends. Rise in the use of cloud VoIP solutions due to cost-effectiveness and robust growth in wireless communications will spur voice over internet protocol (VoIP) industry size during 2020-2026. Apart from this,         onset of 4G and 5G technologies is anticipated to bring a paradigm shift in VoIP services, thereby boosting the expansion of voice over internet protocol (VoIP) market over the assessment period. Need for good & feasible audio quality solutions and efficient communication services will create lucrative growth avenues for voice over internet (VoIP) industry in the years to come.

Moreover, novel coronavirus -19 pandemic has forced firms to switch to new working protocols as a result of work from home activities, thereby upsurging the use of VoIP services. This, in turn, will embellish the market value. Rise in acceptance of VoIP services by schools & universities for conducting online lectures will add tremendously towards overall industry revenue over 2020-2026. In addition to this, doctors have made use of VoIP solutions for imparting virtual trainings & meetings. This will further expand the scope of the business in the foreseeable future.

Regional Landscape

Asia Pacific Market To Witness Ascension in Size Over 2020-2026

The market growth in APAC over assessment period can be credited to surge in the use of internet in the region since last two decades. VoIP Technology is replacing conventional telecom network services in countries such as China and India. This will help market explore new areas having untapped growth potential in the region and will add to rapid expansion of the market size in the sub-continent. For the record, China is focusing on offering mobile VoIP services for smartphone users and this will help VoIP technology to increase its reach even to the far-flung & remote areas and this will spearhead the industry landscape.

Moreover, the move will  not only help in fulfilling the unmet requirements of the users but will boost the entrepreneurial growth as well as business activities in the country due to efficient & uninterrupted network communications offered by VoIP systems. All these factors will further add to the regional market value. Furthermore, increase in the number of startups in the region due to supportive government schemes will pave a way for enormous industry surge in the sub-continent.

Competitive Landscape

Key players profiled in the study include ZTE Corporation, Alcatel Lucent, Mitel, AT&T, Avaya, Cisco, Citrix, Verizon, Deutsche Telekom, RingCentral, Ribbon Communication, Vonage, Google, Inc., Huawei Technologies, Microsoft Corporation, Telenor, Nextiva, and Jive Communication.

The global Voice Over Internet Protocol (VoIP) Market is segmented as follows:

By End-Use  

  • Individual Users
  • Large & Giant Firms
  • Small & Medium Enterprises

By Application

  • IT & Telecom
  • Healthcare
  • Education
  • Hospitality
  • BFSI
  • Public Sector
  • Retail

By Call Type

  • International VoIP Calls
  • Domestic Calls

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

VoIP offers more benefits as compared to conventional phone and this will drive market trends. Rise in the use of cloud VoIP solutions due to cost-effectiveness and robust growth in wireless communications will spur voice over internet protocol (VoIP) industry size during 2020-2026. Apart from this,         onset of 4G and 5G technologies is anticipated to bring a paradigm shift in VoIP services, thereby boosting the expansion of voice over internet protocol (VoIP) market over the assessment period. Need for good & feasible audio quality solutions and efficient communication services will create lucrative growth avenues for voice over internet (VoIP) industry in the years to come. Moreover, novel coronavirus -19 pandemic has forced firms to switch to new working protocols as a result of work from home activities, thereby upsurging the use of VoIP services. This, in turn, will embellish the market value. Rise in acceptance of VoIP services by schools & universities for conducting online lectures will add tremendously towards overall industry revenue over 2020-2026.

 

According to Zion market research report, the global Voice Over Internet Protocol (VoIP) Market, which was estimated at 28 (USD Billion) in 2019 and is anticipated to accrue earnings worth 36 (USD Billion) by 2026, is set to record a CAGR of nearly 14.5% over 2020-2026.

Asia Pacific will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is due to surge in the use of internet in the region since last two decades. VoIP Technology is replacing conventional telecom network services in countries such as China and India. This will help market explore new areas having untapped growth potential in the region and will add to rapid expansion of the market size in the sub-continent. For the record, China is focusing on offering mobile VoIP services for smartphone users and this will help VoIP technology to increase its reach even to the far-flung & remote areas and this will spearhead the industry landscape.

Furthermore, the move will  not only help in fulfilling the unmet requirements of the users but will boost the entrepreneurial growth as well as business activities in the country due to efficient & uninterrupted network communications offered by VoIP systems. All these factors will further add to the regional market value.

The key market participants include ZTE Corporation, Alcatel Lucent, Mitel, AT&T, Avaya, Cisco, Citrix, Verizon, Deutsche Telekom, RingCentral, Ribbon Communication, Vonage, Google, Inc., Huawei Technologies, Microsoft Corporation, Telenor, Nextiva, and Jive Communication.

 

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