The global VoIP services market is anticipated to grow steadily at a CAGR of almost 10% during the forecast period of 2016-2020.
Procurement market intelligence analysts have announced the top five leading suppliers for the VoIP services in their latest research report. The global VoIP services market is dominated by the Americas, both in terms of revenue and customers base. Much of the region’s growth comes from the availability of uninterrupted high-speed internet services in the region.
This category spend intelligence report is based on the synthesis, analysis, and interpretation of information about the global VoIP services market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The VoIP services industry is extremely fragmented, with the dominance of large global players such as 8*8, Vonage, and Nextiva. However, the market also comprises a significant portion of small service providers such as Cheap Voip, EasyCallBack, and NairaCalls that have an edge over global players in terms of knowledge about local markets. The players in the market are constantly looking to improve their expertise and service portfolios, as it will allow them to offer proprietary services that can meet buyers’ requirements in specific subcategories.
According to Angad Singh, a category specialist at Technavio, “VoIP service providers are aiming towards extending their reach to capitalize on opportunities provided by growth in business activities as well as to reduce the effect of competition. The service providers in the market are strictly adhering to information security or protection laws, which will enhance the security of confidential and recorded information, particularly in proprietary offerings. The end-users of VoIP services prefer vendors who can provide advanced technologies such as VoIP peering and SIP trunking.”
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Top five suppliers in the VoIP services market space
8*8
8*8 is a market leader in the business cloud communication industry that led the development of internet protocol voice, video, and data communication technologies in the SaaS model. The company has the potential to offer VoIP services to industries such as banking, education, healthcare, legal, aviation, and government. It holds strong potential in research activities and possesses around 100 patents in the area of technological innovation. in 2016, 8*8 was incorporated in the list of leading UCaaS providers in North America by HIS Markit.
Key services: Cloud PBX, phone services, mobile services and applications, unified communications, web conferencing, and call recording.
Vonage
Vonage is a pioneer in cloud communication and business communication services, and provides services that facilitate flexibility, portability, and ease of use across multiple devices. It functions across industrial sectors, such as manufacturing, automotive, legal, IT, finance, construction and real estate, engineering, and healthcare. Vonage has recently introduced Boomerang, which is a new international calling feature.
Key services: Cloud-based unified communications, mobile applications, call forwarding, call conferencing, and call recording.
RingCentral
RingCentral is a major provider of SaaS that helps improve business communications with its innovative cloud-based approach. The company operates across sectors like advertising, consulting, finance, healthcare, legal, real estate, retail, and technology. It has strong R&D capabilities and holds 85 patents in the US. In June 2016, RingCentral collaborated with Google to enhance its VoIP portfolio and gain competitive edge over companies such as Microsoft.
Key services: Cloud communications, mobility services, video and web conferencing, call recording, and phone services.
Jive communications
Jive communications is a category of Jive that provides products that are deployable on private or public clouds. It offers products in two configurations: Jive-n and Jive External. The firm delivers services to sectors such as finance, technology, healthcare, retail, and telecommunications. As per Lecko, a research firm based in France, Jive communications became the leading vendor for supporting digital transformation in 2016.
Key services: Hosted PBX, call forwarding and recording, virtual receptionist, video conferencing, and mobility and phone services.
Nextiva
Nextiva is one of the fastest growing technological companies and operates across sectors including finance, healthcare, insurance, legal, marketing, real estate, and retail. The company aims on the development of analytical tools and platforms, and serves more than 100,000 businesses in the US region. Its latest launch is the introduction of a new analytical tool to help customers analyze data on phone calls.
Key services: Cloud communication, mobility services, application integration, phones and devices, and network security.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global VoIP Services – Procurement Market Intelligence Report 2016’.
