Dublin-based Research and Markets has announced the addition of the “VoIP Services Market (Corporate Consumers and Individual Consumers) — Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020″ report to their offering.
According to the report, technological advancement in network infrastructures, high price performance ratio and demand for mobile communication services (using wireless medium) has led to increasing demand for VoIP services across the corporate and individual consumer segments.
Factors such as increasing trend of bring your own device in the corporate consumers segment and diversification of telecommunication service providers to VoIP services is fuelling the growth of the market.
Moreover, the increasing competition among the telecommunication and internet service providers to offer best solution is encouraging the industry VoIP service provider to offer bundle services in order to differentiate their offerings.
In 2020, the market size of global VoIP services is expected to reach 348.5m subscribers with revenue of 136.76bn.
The corporate consumers of VoIP services demand for high quality and high-speed data and voice services. This offers potential opportunities for the VoIP service providers to offer their solutions to these enterprises.
The major services offered to the corporate consumers by the VoIP service providers include IP connectivity, managed IP PBX and hosted business solutions.
In 2013, the highest contribution was from the hosted business solutions with a percentage share of 35.8% of the total revenue generated from the corporate consumers segment.
The IP connectivity and managed IP PBX are expected demonstrate close growth rates from 2014 to 2020.
The rising demand for mobility encourages the corporate and individual consumers to adopt smart portable devices such as tablet and smart phones. As a result, the demand for affordable VoIP services also increases, wherein these devices can also be used to communicate over the internet.
Thus, with the increasing penetration of these smart portable devices the number of subscribers of phone-to-phone (mobile VoIP) and computer-to-phone VoIP configuration are expected to witness high growth rates over the forecast period.
Additionally, the BYOD trend in the corporate consumers segment is further adding to the growth of smart devices and as a result the demand for mobile VoIP in the this segment is expected to witness tremendous growth during the forecast period. The phone-to-phone VoIP subscriber base is expected to grow at a CAGR of 16.6% from 2014 to 2020.
