VoIP Gateways Article

VoIP Markets Poised for Big 2017

January 16, 2017

The rise of voice over Internet protocol (VoIP) services in the last few years has been fairly regular and on a general upward trend. Fueled mainly by a discovery of potentially huge savings backed up by additional market value, it's easy to see why more businesses—and more individuals—are eager to take advantage of this combination of market factors. A recent report from Research and Markets underscores this and shows us just how big the VoIP market could get through 2021.

The Research and Markets report projects a compound annual growth rate (CAGR) of 9.87 percent for 2017 to 2021, and encompasses several sub-markets within the primary market, including VoIP services and connectivity service providers offering VoIP services. The biggest driver in this market is the increasing number of multitasking users, as users turn to various computing devices to not only surf the Web, but also read news, handle email, and watch video all at once. This makes VoIP services particularly valuable, as such can readily be brought in alongside all the other options users have.

Add to this multitasking the rise of mobile device sales—in 2015, mobile computing device shipments cleared the 1.91 billion mark—and further growth expected at a CAGR of 6.99 percent, and the end result is not only more devices, but more uses for the devices on hand.

There are limits to the market, of course, with security being perhaps the biggest. Thanks to VoIP services' cloud-based approach, such services are vulnerable to a variety of maladies ranging from viruses to outright data crashes, and the hackers that will not only attempt to deliver these but potentially seize that information flow for their own ends. Encryption is stepping up to deliver security, but it's also having some impact on the end user experience, fundamentally limiting the market.

From there, the report also addresses key vendors in the market like Avaya and Skype (News - Alert), along with geographic issues, further market drivers and challenges, segmentation by end-user and more.

The value of VoIP service has long been known, and as more and more positive use cases hit the market, more firms will wonder if they too can't realize some value from this technology. While many common markets have changed, the value involved in having the ability to call people and save money doing so—particularly when foreign countries are involved—really doesn't change much at all.

Since VoIP service works both sides of the profit equation at once, saving money and improving potential sales, it becomes especially valuable in the field. The new projections of the VoIP services market makes that much clear.

Edited by Alicia Young
Article comments powered by Disqus