Global mobile VoIP market: Key market research findings
- The ubiquity of 3G and the advent of LTE service
- The smart functionality of VoIP technology
Technavio has released a new market research report on the global mobile VoIP market, which is expected to reach almost 1.5 billion subscribers by 2020. The development of applications for smartphones in the form of messaging, voice and video calls at reduced prices is a major factor in the customers’ shift to VoIP. Currently, the US dominates the global mobile VoIP market, accounting for almost 95% of the market’s revenue, mostly due to the increasing adoption of smartphones and the pervasiveness of 3G networks in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“VoIP reduces the total cost of ownership (TCO) by merging data and voice communication traffic into a single network. The integration of multiple media types into a single network can eliminate any redundancy in terms of infrastructure and maintenance. This, in turn, helps minimize capital and operational costs. The VoIP market is witnessing considerable growth due to the cost-effectiveness of VoIP networks as opposed to voice networks. Additionally, the surge in the adoption of cloud-based solutions has provided huge growth opportunities for VoIP solutions,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
mVoIP makes it possible for manufacturers, software providers, and service providers to offer various features and services that directly add value for users. These value added services include unified messaging, interactive voice recognition, call center administration, voice mail, conferencing services, database queries, customer relationship management, and instant messaging and web browsing. Yet another benefit of mVoIP technology is that it provides considerable gains in terms of bandwidth, thereby reducing the overall cost.
The key vendors in the global VoIP are Facebook, Skype, Viber, and Vonage. The global mobile VoIP market is characterized by the presence of intense competition among the players. The VoIP providers are focusing on various marketing strategies, such as smart pricing and collaborations with OEMs, to gain maximum market share during the forecast period. They are also engaging in consumer awareness programs, advertising, free trails, continued superior customer service, and innovation mechanisms to maximize their market prominence.
A more detailed analysis is available in the Technavio report, Global Mobile VoIP Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
