Tuesday, September 9, 2014
VoIP is expected to foresee continues growth
Voice over Internet Protocol (VoIP), which has grown into an essential cornerstone of telecom industry, is among the top ten most dynamic industries, accompanying e-commerce and online auctions, Internet publishing and broadcasting, biotechnology, video games, solar power and so on.
Many experts and analysts predict massive growth of VoIP service markets in the coming years.
There are several major factors contributing the growth of VoIP, thus resulting in the death of traditional outdated landlines. Among these factors are rising demand for affordable communication services across the globe, smart devices and mobility among the corporate and individual consumers. The transition from circuit switched networks to packet switched networks, the rising competition among the telecommunication service providers and Internet service providers also play a significant role in terms of product and service differentiation.
According to a new study which was conducted by Transparency Market Research and is known as "VoIP Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," the global VoIP services market was valued at USD 70.90 billion in 2013 and it is expected to reach USD 136.76 billion by 2020, growing at a CAGR of 9.7% from 2014 to 2020. This research analyzes global VoIP services market in terms of geography, end-use, configuration and call type.
VoIP Services Market, by Geography
In terms of geography, in 2013 Europe led the global VoIP services market, it was followed by Asia Pacific in terms of revenue share and subscriber base. It is expected that Asia Pacific will grow into a leading market by end of the forecast period. In 2020, the market size of Asia Pacific is expected to contribute 41.1% and 40.2% in terms of subscribers and revenue respectively. This growth is contributed by increasing awareness about benefits of VoIP services and rising level of quality infrastructure development in the region. This is even encouraging global players to expand their activities in the region offering a competitive product mix.
VoIP Services Market, by End-use
The segment of corporate consumers is classified in terms of the type of services offered to them. The hosted business services offered by the VoIP service providers were responsible for the major contribution in terms of revenue in 2013. This segmented contributed 35.8% of the total revenue generated from the corporate consumers segment. Managed IP PBX (private branch exchange) services offered to corporate consumers play a leading role in the market in terms of subscriber base. However, in spite of promising growth prerequisites the wholesale VoIP service providers face challenges because of the lack of infrastructure and limitations of bandwidth allocation in emerging countries, which are crucial for long term growth.
VoIP Services Market, by Configuration
VoIP services can be provided through different configurations: computer-to-phone VoIP services, phone-to-phone VoIP services, and computer-to-computer VoIP services. In 2013 the market was led by the computer-to-phone VoIP services segment and accounted for 37.9% of the total subscriber base. The phone-to-phone (Mobile VoIP) configuration is expected to experience healthy revenue growth during the forecast period, thus recording a CAGR of 14.7% from 2014 - 2020. Increasing smart phone penetration and demand for mobility among the corporate and individual consumers will result in the minimum growth of market for computer-to-computer VoIP services, as computers (desktops) are gradually being substituted by smart phones and other portable devices.
VoIP Services Market, by Call Type
In terms of call type, the VoIP services market comprises into two major categories: international long distance VoIP calls and domestic VoIP calls. In 2013, the international long distance VoIP services segment led the market in terms of both, revenue generated and number of subscribers. International long distance calls segment is expected to remain dominant throughout the forecast period, with expected rise in revenue market share to 62.3% in 2020. This segment accounted for 54.9% of the total subscriber base for VoIP services in 2013.
Since technology is becoming more cloud-based, the telephone industry is poised to shift from outdated technology to VoIP systems that offer the security, scalability and cost-effectiveness which companies require in today’s high-tech world.
Browse the full Global VoIP Services Market Report at http://www.transparencymarketresearch.com/voip-services-market.html