Dublin, July 23, 2024 (GLOBE NEWSWIRE) -- The "Business VoIP Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Business VoIP Services is estimated at US$162.4 Billion in 2023 and is projected to reach US$508.7 Billion by 2030, growing at a CAGR of 17.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Several key factors are driving the growth and adoption of VoIP services. Integration with artificial intelligence (AI) allows VoIP systems to offer advanced features like voice-to-text transcriptions, intelligent call routing, and interactive voice response systems, improving customer service and operational efficiency.
Regulatory compliance features are increasingly important as businesses face stricter data protection and privacy regulations, with VoIP providers offering built-in compliance features like encrypted communications and secure data storage.
The rollout of 5G technology enhances VoIP performance by providing higher data transfer speeds and reduced latency, crucial for maintaining high-quality voice and video calls. The increase in remote work and global distribution of teams has made VoIP essential for maintaining effective communication, with its flexibility supporting a distributed workforce. Consumer demand for unified communications drives businesses to adopt VoIP services that bundle voice, video, messaging, and file sharing into one platform.
Additionally, VoIP technology supports environmental sustainability by reducing the need for travel and lowering the carbon footprint associated with traditional telephony, appealing to businesses looking to enhance their sustainability practices. Enhanced customer experience technologies, such as call analytics and customer sentiment analysis, help businesses improve customer interaction and satisfaction, which is a critical competitive factor in many industries.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Computer-to-Phone Configuration segment, which is expected to reach US$220.1 Billion by 2030 with a CAGR of a 18.2%. The Computer-to-Computer Configuration segment is also set to grow at 16.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $41.7 Billion in 2023, and China, forecasted to grow at an impressive 22.5% CAGR to reach $132.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as 8x8 Inc., AT&T, Inc., Avaya Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 306 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $162.4 Billion |
| Forecasted Market Value (USD) by 2030 | $508.7 Billion |
| Compound Annual Growth Rate | 17.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Shifting of Voice Traffic Away from PSTN to Mobile and Internet Networks Paves the Way for the Emergence of VoIP
- Recent Market Activity
- Overview of VoIP Service Provider Strategies Catalyzing Growth
- Focused Strategies on Mobile VoIP
- VoIP Peering Agreements
- Bundled Services at Competitive Costs: A Key Service Differentiation Strategy
- Market Outlook
- Global Economic Update
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Business VoIP Services - Global Key Competitors Percentage Market Share in 2024 (E)
MARKET TRENDS & DRIVERS
- Noteworthy Market Trends & Drivers
- High Speed Internet Connectivity, Expanding Bandwidth & Falling Data Bandwidth Costs Prime the VoIP Market for Rapid Growth & Proliferation
- Pervasive Business WLANs & Strong Sales of Wi-Fi Phone Units Dives Demand for VoWLAN
- On the Back of Converged IT Environments, VoIP Gains Prominence as the Stepping Stone for UC Implementation
- Productivity Receives a Boost When BYOD Meets VoIP
- Sustained Value Created by Mobile & Affordable Audio Conferencing Drives Demand for VoIP Audio Conferencing Solutions
- The Move Towards Smart Offices Drives Interest in Connecting VoIP Networks to IoT Networks
- WebRTC Packs More Power into the VoIP Technology
- Mushrooming of SMEs Worldwide Bodes Well for the VoIP Services Market
- Cloud Telephony Emerges as the Most Successful Hosted Business Model
- The US$290 Billion Call Center Market Stands Tall as a Lucrative End-User of Business VoIP Services
- Virtualization of VoIP Eliminates Call Manager Resource Wastage
- Growing Investments in 4G, Promised Benefits of 5G & the Ensuing Emphasis on VoLTE to Boost Mobile VoIP Applications
- Disruptive Emergence of Social Business Drives the Integration of Social Media with VoIP
FOCUS ON SELECT PLAYERS (Total 108 Featured)
- 8x8 Inc.
- AT&T, Inc.
- Avaya Inc.
- Cisco Systems Inc.
- Deutsche Telekom AG
- InPhonex LLC
- MegaPath
- Microsoft Corp.
- Mitel Networks Corporation
- Nextiva
- Orange Business Services
- RingCentral Inc.
- ShoreTel Inc.
- Sprint Corporation
- Telenor Group
- Verizon Enterprise Solutions
- Viber Media S.a r.l
- Vonage Holdings Corp.
- West Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9u63kg
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