The method in which different technologies are amalgamated to provide communication services over IP data network is defined as voice over internet protocol (VoIP). VoIP primarily deals with transformation of voice signals into digital data over the internet. VoIP makes use of internet as a telephony network. A regular computer, mobile phone, telephone, or VoIP phone can be utilized to make a call. The various VoIP services can be distributed across the cable infrastructure and public switched telephone network (PSTN). The other delivery providers include wireless infrastructures, power lines, and satellites. There are several protocols being used to implement VoIP services that include media gateway control protocol (MGCP), inter asterisk exchange (IAX), session initiation protocol (SIP), real time protocol (RTP), and H.323 among others. The major benefit offered by VoIP service is the cost-effectiveness. VoIP can be used to provide rich media services and phone number portability. Also, VoIP offers certain features such as integrated applications, service mobility user control interface, and other features. It is therefore easy to install, use and troubleshoot various VoIP services.
The technological innovations and development in network structures, high performance ratio and mobile communication will propel the growth of global VoIP market in near future. The diversification of telecom service providers coupled with rising bring your own device (BYOD) trend is expected to fuel the growth of global VoIP services market in coming years. Moreover, the global VoIP services market is further fuelled by technological advancements. The rising usage of portable devices such as smartphones and tablets has led to the expansion of global VoIP market. The VoIP services are economical for both corporate and individual customers. The use of VoIP services enables corporate customers to reduce their operational costs. Owing to the cost efficiency and packaged service offerings, varied business customers are preferring cloud based VoIP services. The telecommunication companies are constantly offering VoIP services to their customers thereby fuelling the demand for global VoIP market.
Based on configuration, the global VoIP services market is divided into phone to phone, computer to computer, and computer to phone. Currently, the computer to phone configuration segment is commanding the largest share of the global market. However, owing to the increasing demand for flexibility among both corporate and residential consumers, the phone to phone VoIP segment is expected to grow at a rapid pace.
Based on call type, the global VoIP services market is divided into international long distance calls and domestic VoIP calls. The global VoIP services market is subdivided based on the end-users that include individual consumers, corporate consumers, and hosted business. However, the low rate of acceptance of VoIP services by residential customer segment tends to hamper the growth of global VoIP services market. However, the rising need of making either international or long distance calls owing to moving work force will lead to greater public acceptance and propel the growth of this market.
Based on geography, the global VoIP services are divided into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa (MEA). Europe commands the largest share in the global VoIP services market. However, Asia-Pacific is estimated to grow at a rapid pace owing to the introduction of 4G and 3G services by communication networks and expansion of network infrastructure. Some of the leading players in the global VoIP services market include Microsoft Corporation (Skype), Vonage Holdings Corp., InPhonex LLC, Sprint Corporation, Nextiva, Inc., 8×8, Inc., Viber Media S.r.l, RingCentral, Inc., and iNet Telecom Ltd. among others.
Market by Configuration
· Phone to phone
· Computer to computer
· Computer to phone
Market by Call Type
· International long distance calls
· Domestic VoIP calls
Market by End User
· Individual consumers
· Hosted business
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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