There are many rumors about the future of the VoIP industry saying that the end is very close but experts are saying the opposite. Huge growth is being expected in the VoIP market between 2019 and 2025 thanks to its great future and reducing the cost of communication. High technology and spreading high-speed internet are reducing the big analog equipment investments in the telecom sector. VoIP is adapting to the era and strengthening its existence.
In the new world order, there are no borders between countries, enterprises are spreading all over the world. Decentralization is the new trend now; for example, one design company in the USA can work with a designer from Europe, Asia or anywhere. Business models are changing so fast by the significant growth in technology. Also, the new generation mainly chooses to work independently, because they want to explore the world while they are working. They are called nomads. Not without being tied to any country or any place.
All these needs and changes find out other need: a way to communicate cheaper. Before the internet, it was very costly to make long distance calls but by the help of VoIP technology, we can make cost-effective long distance phone calls without compromising from quality. So by the rise of the freedom trend, a significant rise is being expected in VoIP. People need cheap solutions for sending messages, calling, video calling and sending photos.
What is the size of the VoIP market right now and what is being expected in the future?
The VoIP sector has a size of over 20 billion at the end of 2018 and by 2025, industry leaders are expecting a growth around 12% which is around 35 billion dollars. This is significant growth and it stands against the myth; “VoIP is about to die”.
The future of the VoIP market by type
The hosted IP PBX is being expected to grow over 15% until 2025. This type of VoIP, decrease the cost of training and equipment and for this reason, small or large scaled enterprises are focusing this area more than ever. Without big investments, they can have advanced telecommunication features like call queuing, messaging and auto attendants.
The future of the VoIP market by access type
Global companies are making their local and international calls via the internet so computer to computer VoIP solution is about to increase 10% percent in the upcoming years. Soft-phone applications are becoming more important and software like Skype which enables people to send a file and communicate comes forward.
The future of mobile VoIP market by medium
When 5G technology comes to our lives, app usage like Skype and Google Voice will rise significantly. Even if it’s a domestic call, people tend to prefer these kinds of applications rather than traditional communication ways. So a big growth over %13 is being expected in the mobile VoIP market between 2019-2025.
The future of mobile VoIP market by applications
Banking, financial services, and insurance sector have a vital connection with the communication channels to reach to its customer. So by the growth of internet technologies, the BFSI sector starts to take advantage of VoIP solutions. The market of BFSI in VoIP business is expected to grow over 15% in 2025.
The future of mobile VoIP market by region
According to the high smartphone usage, internet penetration, cloud-based applications, high population, Asia Pacific countries are going to lead the VoIP sector in 2025. The market size of Asia Pacific will grow over 15% and take a big pie from the competition.
Source: https://www.gminsights.com/industry-analysis/voice-over-internet-protocol-voip-market