Voice over Internet Protocol Market Competitive Dynamics & Global Outlook 2027

Voice over Internet Protocol Market Competitive Dynamics & Global Outlook 2027

The research report on voice over internet protocol market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the market.

The voice over internet protocol market is anticipated to witness stellar growth in the coming years in view of budding trend of employee mobility across organizations to improve collaborations and communication with remote users as well as steady acceptance in the residential sector. For starters, VoIP is a telecommunication technology that comes as a significant improvement over traditional phone. The technology’s demand has surged greatly as to its numerous offered benefits such as low data rates and inexpensive calling prices.

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Factors like free calling among employees, very low international call rates, more reliability, inexpensive monthly/annual plans, cheaper than landlines, and no maintenance contracts, are expected to contribute mostly to bringing down the cost incurred by enterprises on upholding and handling telephony infrastructure. Besides, VoIP systems can also handle various types of media other than just voice such as image transfer, video calls, video transfer, and text while enabling low-cost enterprise communication. These features are said to attract business towards VoIP as compared to traditional PSTN systems.

Residential VoIP calling is steadily gaining presence across home settings. Many residential customers are switching to VoIP from traditional landlines as these services include unlimited calling and many other free features such as caller ID, call forwarding, and call waiting, which are usually charged by phone companies.

VoIP service providers are working on delivering better services to residential customers. In 2021, Watch Communications, a wireless communications company specializing in Fiber Internet, Hosting, TV, and VoIP Phone Services to both business and residential customers, announced offering its home-based customers speeds of up to 100 megabits per second and plans that can be integrated with residential TV and telephone services.

Besides this, the government & public sector segment is also predictable to showcase exponential growth over the forecast period. Government and public institutions are constantly focusing on streamlining their communications structure to expand consistency and deliver services to citizens.

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Region-wise, Europe is estimated to generate momentous revenue prospects in the voice over internet protocol market between 2021 to 2027. Adoption of remote working facility by businesses has accelerated the use of VoIP services in the region. Apart from this, another major factor driving the regional growth is the wide exposure of the 4G LTE network in Europe. VoIP solutions provide the ability to manage enterprise communication at better speed and lower cost compared to the traditional PSTN network. As employees are working remotely at different locations, enterprises are capable of communicating and managing operations globally.

Key players functioning in the voice over internet protocol market are Deutsche Telekom, Alcatel Lucent, Cisco, Citrix, AT&T, Ribbon Communication, etc.

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