The global VoIP services market was valued at approximately USD 82 billion in 2015 and is expected to reach around USD 137 billion by 2020.
Procurement market intelligence analysts have announced its latest market research report on VoIP services for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global VoIP services market during the forecast period. Some of the top vendors listed in this industry analysis include 8×8, Vonage, RingCentral, Jive Communications, and Nextiva.
In terms of geographical analysis, the Americas was the largest shareholder in the global market in 2015, with a market share of around 90%.
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According to Angad Singh, a category specialist at Technavio for research on category spend intelligence, “The global market is currently experiencing a surge in the adoption of cloud technology. Cloud-based technology eliminates the need for dedicated servers for VoIP networks. It also provides scalability in terms of users and number of lines as well as enhances conversion of CAPEX to OPEX, which enhances tax benefits for buyers.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rise in demand for mobile VoIP services
The adoption of mobile devices for business purposes is currently on an upsurge. The growth and increased usage of mobile devices creates the demand for VoIP services that are compatible with such devices. These services help collaborate with multiple participants and offer benefits such as enhancement of Wi-Fi connectivity, better control over calls, and cost savings.
Need for mobility of workforce
Organizations are increasingly seeking out means to provide their employees with flexible working hours and locations, and convenient access to business applications. Since VoIP is delivered over IP, VoIP-enabled phones can be extended to locations with internet or WAN connections.
Increased demand for low-cost communication services
The growth and expansion of industries across the globe is leading to a rise in communication among clients, customers, and employees within organizations. As a result, there is an increased need for cost-effective communication services, such as VoIP.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global VoIP Services – Procurement Market Intelligence 2016.’
