The Next Five Years: Where will VoIP Be?
New market research has just emerged that indicates that the VoIP Services Market is expected to grow by roughly 9.7% between 2014 and 2020. In 2013, the industry boasted a value of 70.9 billion; in the next five years, it’s supposed to reach a value of 136.76 billion.
The research suggested that the largest contributor to the industry’s revenue was Europe, but that the Asia Pacific region is projected to have the fastest growing VoIP market in the coming years, with an expected growth of 13.6% by 2020. The Asian Pacific consumer base is expected to grow by approximately the same percentage.
After a few years of a certain type of technology gaining traction, many expect that it will inevitably be replaced by the next bigger, better thing. This is (obviously) not the case with VoIP, so what keeps it going so strong? Likely, implies the research, the rapid adoption of smart portable devices, like tablets and smartphones, in both the corporate and residential sectors. VoIP systems connect the mobile with the desktop, whether it’s sending your desktop phone’s calls to your mobile device, or having your voicemails translated to e-mail. VoIP is catering to the fact that people use different devices in different situations, which is what makes its positioning in the tech world so powerful.
It’s also for this reason that VoIP is tapping into the corporate market so effectively. In 2013, 35.8% of VoIP revenue in the corporate sector was generated thanks to hosted business services offered by VoIP providers. The PBX (private branch exchange) has been a very healthy market over the past few years.
Moving forward, though, the Mobile VoIP configuration will make a massive contribution to the industry’s revenue growth – a growth of 14.7% is expected between 2014 and 2020. Because mobile is currently king in terms of the technological world, however, desktop-to-desktop VoIP services isn’t expected to grow much at all – too many stationary devices are being replaced by their mobile counterparts, which are quickly becoming equally capable.
Furthermore, in the past, international VoIP phone calls were largely responsible for the amount of revenue generated and the number of VoIP users. This is expected to remain consistent through 2020, simply because VoIP phone services make calling long distance extremely affordable, and mobile phone plans make domestic calling accessible.
All in all, it seems that VoIP as an industry – especially in the corporate world – isn’t going anywhere and for that reason, global players are looking to expand their positioning in the field.