There are many rumors about the future of the VoIP industry saying that the end is very close, but experts are saying the opposite. The VoIP market expects massive growth between 2019 and 2025, thanks to its ability to reduce the cost of communication and its great future. High technology and spreading high-speed internet are reducing the significant analog equipment investments in the telecom sector. VoIP is adapting to the era and strengthening its existence.
In the new world order, there are no borders between countries; enterprises are spreading worldwide. Decentralization is the latest trend now; for example, one design company in the USA can work with a designer from Europe, Asia, or anywhere. This is because business models are changing so fast by the significant growth in technology. Also, the new generation of employees mainly chooses to work independently because they want to explore the world while they are working. They are called nomads – those not tied to any country or any place.
All these needs and changes find out other need: a way to communicate cheaper. Before the internet, it was very costly to make long-distance calls, but with the help of VoIP technology, we can create cost-effective long-distance phone calls without compromising quality. So by the rise of the freedom trend, a significant rise is being expected in VoIP. People need cheap solutions for sending messages, calling, video calling, and sending photos.
What is the size of the VoIP market right now, and what to expect?
The VoIP sector was worth over 20 billion at the 2018 conclusion, and by 2025, industry leaders expect that to grow around 12% (roughly 35 billion dollars). This estimate suggests significant growth, which stands against the myth; “VoIP is about to die.”
The future of the VoIP market by type
The anticipation is IP PBX will grow over 15% through 2025. This type of VoIP decreases the cost of training and equipment. For this reason, small or large-scale enterprises are focusing on this area more than ever. They can have advanced telecommunication features like call queuing, messaging, and auto attendants without significant investments.
The future of the VoIP market by access type
Global companies are making their local and international calls via the internet, so computer to computer VoIP solutions will increase 10% percent in the upcoming years. Soft-phone applications are becoming more critical, and software like Skype, which enables people to send a file and communicate, comes forward.
The future of mobile VoIP market by medium
When 5G technology comes into our lives, app usage like Skype and Google Voice will rise significantly. Even if it’s a domestic call, people prefer these kinds of applications rather than traditional communication ways. Considerable growth of over 13% is anticipated in the mobile VoIP market between 2019-2025.
The future of the mobile VoIP market by applications
The banking, financial services, and insurance sector have a vital connection with the communication channels to reach its customer. So by the growth of internet technologies, the BFSI sector has started to take advantage of VoIP solutions. As a result, the expectation is BFSI’s market in VoIP business to grow by over 15% in 2025.
The future of mobile VoIP market by region
According to the high smartphone usage, internet penetration, cloud-based applications, high population, Asia Pacific countries will lead the VoIP sector in 2025. As a result, the market size of Asia Pacific will grow over 15% and take a big pie from the competition.
For the VoIP industry to grow, please look at how you can participate either with our free resource or by speaking with an Intellex specialist.
Posted initially via Sigma Telekom with this source.