Majority of the companies are adopting the system of Bring Your Own Device (BYOD), hence, the demand for VoIP services is also growing. Moreover, along with updating their services, VoIP service providers are also introducing new features in VoIP services to attract users at both individual and corporate level. New market avenues are likely to open with an increase in international calling. However, governments of different countries are focusing on introducing new regulations in order to save local telecom service providers. This is likely to impact the growth of the global VoIP services market.
MARKET SCOPE
The "Global VOIP services market Analysis to 2028" is a specialized and in-depth study of the VOIP services market with a special focus on the global market trend analysis. The report aims to provide an overview of the VOIP services market with detailed market segmentation by call type, service type, end-user, and geography. The global VOIP services market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading VOIP services market players and offers key trends and opportunities in the VOIP services market.
MARKET SEGMENTATION
- The global VOIP services market is segmented on the basis of call type, service type, and end-user.
- On the basis of call type, the market is segmented as international VOIP, and domestic VOIP.
- On the basis of service type, the market is segmented as SIP trucking, hosted IP PBX, and managed IP PBX.
- On the basis of end user the market is segmented into IT and telecom, BFSI, government healthcare, retail.
MARKET DYNAMICS
Drivers:
- Increasing migration towards VoIP services from traditional telephone systems in the corporate sector.
Restraints:
- Limited network speed and privacy concerns.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The VOIP services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the VOIP services market in these regions.
IMPACT OF COVID-19 ON VOIP services MARKET
The rapid spread of the Covid-19 pandemic has triggered a massive financial crisis and created a health crisis across the globe. The ongoing pandemic also had a significant impact on overall international trade and businesses. The outbreak of COVID-19 has slowed down the growth of the VOIP services market owing to challenges in maintaining operational continuity, securing network data, and adapting to new traffic patterns. Organizations have actively focused on understanding the function of automation in digital transformation due to the pandemic. Moreover, enterprises also learn to measure the Return on Investment (ROI) as compared to other competing initiatives. These factors are expected to have a significant effect on the market over the coming years.
MARKET PLAYERS
The report covers key developments in the VOIP services market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from VOIP services market are anticipated to lucrative growth opportunities in the future with the rising demand for the VOIP services market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the VOIP services market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 8X8 Inc.
- ALE International SAS
- AT&T Inc.
- Cisco Systems Inc.
- Dialpad Inc.
- Fuze Inc.
- Inphonex Group
- Intrado Corp.
- Logmein Inc.
- Microsoft Corp.