VoIP service Market
VoIP (Voice over Internet Protocol) is a communication method of voice transfer by utilizing the internet.
VoIP (Voice over Internet Protocol) is a communication method of voice transfer by utilizing the internet.
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<strong>VoIP</strong> <strong>service</strong> <strong>Market</strong><br />
According to the report, global demand for <strong>VoIP</strong> <strong>service</strong>s market is expected to reach above USD<br />
140 billion in 2021 and is anticipated to grow at a CAGR of above 9.1% till 2021.<br />
<strong>VoIP</strong> (Voice over Internet Protocol) is a communication method of voice transfer by utilizing the<br />
internet. <strong>VoIP</strong> <strong>service</strong>s are emerging as attractive communications alternative for customers.<br />
Broadband phone <strong>service</strong>, Internet telephony, IP telephony, broadband telephony is the terms<br />
associated with the <strong>VoIP</strong> <strong>service</strong>s. Infrastructure cost can be reduced as voice and data<br />
communications can be run over a single network.<br />
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Growing technological advancement for development of network infrastructure and wireless mobile<br />
communication majorly drives the <strong>VoIP</strong> <strong>service</strong>s market. The rise in the number of portable device<br />
customers has led the demand for <strong>VoIP</strong> <strong>service</strong>s. Attributes such as packaged <strong>service</strong>s and the rising<br />
demand for the portable device is increasing across the individuals and corporate sector resulting in<br />
the spurt in demand for <strong>VoIP</strong> <strong>service</strong>s. Constantly updating <strong>service</strong>s by telecommunication players<br />
generates healthy competition among players contributing to escalating demand for <strong>VoIP</strong> <strong>service</strong>s.<br />
However, the lack of acceptance from the local sectors poses an impact on the growth of the <strong>VoIP</strong><br />
<strong>service</strong>s market. Strict rules and regulation from the government to save the local telecom <strong>service</strong>s<br />
hinder the growth of the market. <strong>VoIP</strong> <strong>service</strong>s market likely to open new market avenues in the near<br />
future owing to moving work force or migration and increasing the international calling.<br />
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