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resulting in the death of traditional outdated landlines.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.
