VoIP Services Market - Growing at a CAGR of 9.1% between 2016 and 2021
Global demand for VoIP service market was valued at USD 83 billion in 2015, is expected to reach USD 140 billion in 2021, growing at a CAGR of above 9.1% by 2021
Global demand for VoIP service market was valued at USD 83 billion in 2015, is expected to reach USD 140 billion in 2021, growing at a CAGR of above 9.1% by 2021
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<strong>VoIP</strong> <strong>Services</strong> <strong>Market</strong><br />
Based on type, the <strong>VoIP</strong> services market can be segmented into domestic <strong>VoIP</strong> calls <strong>and</strong> intern<strong>at</strong>ional<br />
long distance <strong>VoIP</strong> calls. Intern<strong>at</strong>ional long distance <strong>VoIP</strong> calls emerged as the leading segment with<br />
52% <strong>of</strong> total revenue share in 2015 <strong>and</strong> are further expected to rise to 62% in forecast period due to<br />
exp<strong>and</strong>ing globaliz<strong>at</strong>ion <strong>between</strong> the business organiz<strong>at</strong>ions across different industries. Commercial<br />
clients in Europe <strong>and</strong> North America have largest revenue for intern<strong>at</strong>ional long distance <strong>VoIP</strong> calls.<br />
Phone-to-phone, computer-to-phone <strong>and</strong> computer-to-computer are the configur<strong>at</strong>ions for <strong>VoIP</strong> services.<br />
Among all, computer-to-computer segment was the leading configur<strong>at</strong>ion in 2015 with more than 35% <strong>of</strong><br />
share. Phone-to-phone is also estim<strong>at</strong>ed to show high growth in <strong>VoIP</strong> services in the coming up years.<br />
Hosted business, IP connectivity, managed IP PBX, individual consumers <strong>and</strong> corpor<strong>at</strong>e consumers are<br />
the key users in <strong>VoIP</strong> services market. Hosted business held the majority <strong>of</strong> shares in 2015, in terms <strong>of</strong><br />
revenue. Managed IP PBX <strong>and</strong> IP connectivity is likely to experience significant growth within the<br />
forecast period.<br />
In 2015, Europe domin<strong>at</strong>ed the <strong>VoIP</strong> services market. With 14% <strong>of</strong> <strong>CAGR</strong> Asia Pacific is expected to<br />
grow significantly due to escal<strong>at</strong>ing use <strong>of</strong> high speed communic<strong>at</strong>ion such as 3G <strong>and</strong> 4G also<br />
moderniz<strong>at</strong>ion in network infrastructure. L<strong>at</strong>in America, Middle East <strong>and</strong> Africa are likely to observe<br />
substantial growth over forecast period because <strong>of</strong> low price <strong>of</strong> <strong>VoIP</strong> services for the individual <strong>and</strong><br />
corpor<strong>at</strong>e users. North America is projected to witness decent growth over the next few years.<br />
The key participants in the VOIP services market include Viber Media S.r.I., InPhonex LLC, Vonage<br />
Holdings Corp, AT&T, Micros<strong>of</strong>t Corpor<strong>at</strong>ion (Skype), Avaya, Nextiva, Inc., Sprint Corpor<strong>at</strong>ion, 8×8 Inc.,<br />
RingCentral, Inc. <strong>and</strong> Vonage Holdings Corpor<strong>at</strong>ion among others. AT&T, Inc. was leading the market<br />
with 7% share in total revenue in 2015.<br />
This report segments the <strong>VoIP</strong> services market as follows:<br />
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