Overview:

The global VoIP services market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. VoIP is Voice over Internet Protocol also known as IP telephony is an internet technology used to deliver voice and multimedia content and information over internet. VoIP can be carried between computer to computer, computer to mobile, and mobile to mobile.

Market Dynamics:

Rising investment in development of network infrastructure especially in developing countries is one of the key factors driving growth of the target market. In addition, increasing internet penetration coupled with rising smartphone adoption are other factors fueling growth of the global VoIP services market. Moreover, increasing demand for faster internet services especially from BFSI and IT & telecommunication sectors is another factor expected to further fuel growth of the global market to a significant extent. Despite deployment of advance network infrastructure and increased internet availability, dropped latencies and higher network traffic could hamper growth of the global VoIP services market to a certain extent.

Key Developments:

Rising focus on network infrastructure advancement among end users is a key trend observed in the target market. For example, in September 2019, VA Office of Information and Technology, IT Operations and Services (ITOPS) awarded contract to Cisco Systems Inc. for deploying Voice over Internet Protocol equipment and related software at its 18 sites.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounted for highest share in terms of revenue in the global VoIP services market. Early adoption of advance technology and presence of technologically advanced network infrastructure in the region are some of the key factors driving growth of the target market in the North America. The market in Europe is expected to witness significant growth rate during the forecast period followed by Asia Pacific region, owing to rising internet penetration and increasing number of smartphone users in countries in the region.

Scope of the Report:

Detailed Segmentation:

Global VoIP Services Market, By Call Type:

• International VoIP Call Type
• Domestic VoIP Call Type

Global VoIP Services Market, By Service Type:

• SIP Trunking
• Hosted IP PBX
• Managed IP PBX
• Others

Global VoIP Services Market, By End User:

• Individual User
• Corporate User

Key Players Covered:

Key players operating in the market includes, Cisco Systems Inc., Avaya, AT&T Inc., Verizon Communications Inc., Orange S.A., Deutsche Telekom AG, KT Corporation, Sprint Corporation, Telecom Italia, and Telenor ASA.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global VoIP Services Market by call type, service type, end user, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global VoIP services market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.