VoIP services utilize broadband networks for communication through packet switched telephone networks (PSTNs) that provide better efficiency in relation to conventional circuit switch networks. These allow users to make IP calls through mobile networks such as 3G, 4G and LTE and stationary networks such as wireless hotspots, WLAN and WiMAX. It enables low cost international calls without the requirement of extra infrastructures such as DSL modems and PCs.
Growing hybrid cloud communication in enterprises and rising portable devices is expected to prominently drive growth of the VoIP services market
Proliferating high speed internet infrastructure to enable speedy operations for both individual and enterprise usage has in turn led to considerable positive impact on the industry growth. Moreover, expansion of large enterprises to strengthen their businesses is likely to influence increased inclination towards hybrid cloud infrastructure for efficient communication. Growing usage of phablets and other portable devices will provide significant growth prospects to VoIP services market over the forecast period.
Business related travels, specifically for the manufacturing and IT & telecom industry, have witnessed considerable surge over the past few years. According to Global Business Travel Association (GBTA) reports, business travel spending has witnessed over 7% increase over the last two years, is expected to witness 7.1% growth in 2017. Owing to increasing business operations across several locations, requirement to provide efficient and inexpensive communications is expected to drive the enterprise and individual VoIP services market, for both domestic and international calls.
VoIP Services Market Taxonomy
On the basis of call type, the global VoIP services market is classified into:
On the basis of service, the global VoIP services market is classified into:
On the basis of configuration, the global VoIP services market is classified into:
On the basis of end user, the global VoIP services market is classified into:
International VoIP calling are expected to propel the demand for VoIP services market
International calling through conventional circuited switch networks can lead to major expenses. However, international calling through voice over internet protocol are available at relatively economical rates. Computer to computer calls with an efficient broadband connection can be made free, while PC to phone calls can be provide at low costs. Industry participants are increasingly providing attractive schemes for free calling within a geographical region with a monthly subscription charge. Moreover, these are used to enable enhanced video calling and conferencing experiences at economical costs. Owing to these factors and simplicity in installation, configuration and maintenance, VoIP services market is expected to find huge consumer motivation over the forecast period.
Security challenges are expected to hamper the overall industry growth
Among the prominent security challenges in VoIP service market identity and service theft, viruses, malwares, spamming, phishing and call tampering are expected to present considerable challenge to the industry growth. Moreover, conventional phone calling can help in tracing the location of the user. For instance, in the U.S., calling on 911 emergency, is enabled with tracing the location of the user in the scenario if the person is unable to speak. However, during the data transfer from IPs, there is currently no means to trace the location call origination.
Lack of servicing ability in instances of power outage and inefficient internet connectivity are some of the other factors that may hinder growth of the VoIP services market. Owing to these factors, conventional mobile networks are expected to remain the primary means of communication over the forecast period.
Insecurity amongst the regional telecommunication industries and government bodies are expected to present major growth challenge
Owing to the difference in the technological process, these offerings do not fit under the conventional telecom regulations, presenting major challenge for the regulators and the judicial bodies. Moreover, increasing usage of internet for voice telecommunication has led to increased business insecurity among the telecom industry participants. In countries such as China, Costa Rica, Belarus, and South Africa these services are banned by law, with a penalty levied on the users and the VoIP service provider. This is expected to be the major challenge that would hamper the overall VoIP service market growth.
Major participants in the VOIP services market include Viber Media, Avaya, Nextiva, InPhonex, Vonage Holdings, Sprint Corporation, AT&T, Microsoft Corporation (Skype), Verizon Communications, 8×8 Inc., RingCentral, Vonage Holdings Corporation, West Corporation, Thinking Phone Networks, and Phone Power.
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