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Voice over Internet Protocol (VoIP) Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, November 1, 2024 /EINPresswire.com/ -- The voice over internet protocol (voip) market has experienced robust growth in recent years, expanding from $119.14 billion in 2023 to $134.83 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to cost savings, mobility and flexibility, evolving consumer preferences, scalability and ease of expansion, increased remote work.
What Is The Estimated Market Size Of The Global Voice over Internet Protocol (VoIP) Market And Its Annual Growth Rate?
The voice over internet protocol (voip) market is projected to continue its strong growth, reaching $229.83 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to focus on quality of service, compliance with regulatory standards, voice analytics and business intelligence, energy efficiency measures, focus on user education and training.
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Growth Driver Of The Voice over Internet Protocol (VoIP) Market
The growing adoption of broadband is expected to drive the growth of the voice over internet protocol (VoIP) market in the coming years. Broadband refers to high-speed internet connections that transmit data at faster rates than traditional dial-up connections, enabling quick and simultaneous access to various online services and content. Broadband plays a crucial role in Voice over Internet Protocol (VoIP) by delivering high-speed internet connections that ensure clear and uninterrupted voice communication over the internet.
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Who Are the Leading Competitors in the Voice over Internet Protocol (VoIP) Market Share?
Key players in the market include Verizon Communications Inc., Comcast Corporation, Orange S. A., AT&T Inc., Charter Communications Inc., Vonage Holdings Corp., Altice USA Inc., Teléfonos de México S. A. B. de C. V., Cox Enterprises Inc., Rogers Communications Inc., Sprint Corporation, TalkTalk Group plc, RingCentral Inc., Patton LLC, San Antonio Telephone Co., OneVoice Communications Inc., Avaya Inc., Cisco Systems Inc., Deutsche Telekom AG, Microsoft Corporation, Mitel Networks Corporation, Nextiva Inc., 8x8 Inc., CallHippo, Dialpad Inc., Evolve IP LLC, Frontier Communications Corporation, Google LLC, LogMeIn Inc., Intermedia. net Inc., MegaPath, Momentum Telecom Inc., NetFortris Inc., Ooma Inc., Star2Star Communications, TPx Communications, T-Mobile US Inc., Telenor ASA, Telecom Italia S. p. A., KT Corporation.
Which Key Trends Are Driving Voice over Internet Protocol (VoIP) Market Growth?
Major companies operating in the voice over internet protocol (VoIP) market are focused on developing strategic partnerships to drive revenues in the market. Strategic partnerships in the VoIP industry can enhance service offerings, expand market reach, and drive innovation through collaborations with hardware manufacturers, telecom providers, and software developers.
How Is The Global Voice over Internet Protocol (VoIP) Market Segmented?
1) By Type: Integrated Access Or Session Initiation Protocol (SIP) Trunking, Managed IP PBX, Hosted IP PBX
2) By Access Type: Phone To Phone, Computer To Computer, Computer To Phone
3) By Call Type: International VoIP Calls, Domestic VoIP Calls
4) By Medium: Fixed, Mobile
5) By End User: Consumers, Small And Medium Businesses, Large Enterprises
Geographical Insights: Asia-Pacific Leading The Voice over Internet Protocol (VoIP) Market
Asia-Pacific was the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Voice over Internet Protocol (VoIP) Market Definition
Voice over Internet Protocol (VoIP) is a communications technology that enables people to communicate via audio over the internet rather than via a traditional telephone line. VoIP enables making a call directly from a computer or a special VoIP phone.
Voice over Internet Protocol (VoIP) Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global voice over internet protocol (voip) market report covering trends, opportunities, strategies, and more
The Voice over Internet Protocol (VoIP) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on voice over internet protocol (voip) market size, voice over internet protocol (voip) market drivers and trends, voice over internet protocol (voip) market major players and voice over internet protocol (voip) market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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