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Published Thu, Nov 29th 2018

Voice Over Internet Protocol (VoIP) Services Market to Exhibit CAGR of 9.53% Boosted By Increasing Trend of Mobile-based VoIP Services Such as WhatsApp, Line, Viber and Skype

Voice over Internet Protocol Services market was valued at US$ 92 billion in 2016 and is projected to reach US$ 207.3 billion by 2025, according to a new market research report Voice over Internet Protocol Services market.

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The Voice over Internet Protocol Services market was valued at US$ 92 billion in 2016 and is projected
to reach US$ 207.3 billion by 2025, according to a new market research report Voice over Internet
Protocol Services market.The VOIP is a communication platform that permits to make calls over internet
connection instead of conventional analog telephone lines. The VoIP has become one of the attractive
communication option for consumers. The low cost and availability of high speed internet is the major
factor driving growth of the market worldwide. Furthermore, 5G technology plays a major role for the
futuristic growth of the Voice over Internet Protocol Services market, owing to features of high speed
data processing wherein 5G technology improves the real time communication service, which in turn is
increasing the demand for VoIP services.

Among Call Type, International long distance VoIP calls segment is projected to hold the dominant
position in 2016 and is expected to retain its dominance throughout the forecast period. According to
Coherent Market Insights, in 2016 the International long distance VoIP calls segment accounted for
share of 59.7% of the global VoIP market. Advantages such as high quality global IP calling features
at low rates as compared to conventional call rates has accelerated the market growth of this segment.

Request Sample Copy @ 
https://www.coherentmarketinsights.com/insight/request-sample/641

The corporate user segment held the dominant position in 2017 and it is projected to retain its
dominance throughout the forecast period. In 2017, the corporate user segment generated the revenue of
US$ 69.4 billion from US$ 63.4 billion in 2016. The cost reduction is major factor for growth of the
segment in VoIP market, as most of the business organizations are implementing the VoIP systems to
reduce their operation cost. 

Rising adoption of smartphone across the globe is the major factor for growth of the Voice over
Internet Protocol (VoIP) Services market. In 2016, Europe was the dominating region in the VoIP
Services market. Countries such as Germany, UK, France, Italy, Spain, and Russia contributed to major
growth in VoIP Services market. According to Coherent Market Insight in 2017, the VoIP Services market
generated revenue of US$ 35.1 billion compared to US$ 32.7 billion in 2016. According to Statista,
during 2016, the number of smartphone users in Western Europe was estimated to be 240.3 million which
reached to around 258.1 million people in the year 2017. Therefore, increasing number of smartphone
users has enhanced growth of mobile-based Voice over Internet Protocol Services market in Europe.

Furthermore, increasing trend of digitalization has also increased growth in the VoIP Services market
in this region. Asia Pacific is expected to dominate the Voice over Internet Protocol Services market
during the forecast period. Rising startups related to digitalization in strong economies such as
China, India, Japan, and Australia are expected to boost growth of VoIP Services market in this
region. For instance, according to Government of India survey 2015 - 2016, about 19,000 technology-
enabled startup was led by consumer Internet and financial services in India.

Read more about VOIP Services Business & download PDF Brochure @
https://www.coherentmarketinsights.com/market-insight/voip-services-market-641

Major players operating in the global Voice over Internet Protocol Services market include 8x8, Inc.,
Apple Inc. (FaceTime), Avaya, AT&T Inc., Verizon Wireless, Orange, Deutsche Telekom AG, KT
Corporation, Sprint Corporation, Telecom Italia, Telenor, T-Mobile, and Tata Communication
 

Contact information

Pareesh Phulkar
Coherent Market Insights
1001 4th Ave,
#3200
Seattle
98154
2067016702
https://www.coherentmarketinsights.com/

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