Global VoIP equipment market is anticipated to witness an exponential growth in the forecast period. Voice over Internet Protocol (VoIP) is a procedure, which uses numerous data and voice transfer technologies such as voice over broadband, IP telephony, and Internet telephony to offer communication facilities over a packet-switched network. Factors such as cost efficiency and packaged service offerings leading to roll out of progressive networks and improved usage of these services over several networks and rising disposable income are likely to drive the market in forthcoming period.
On the other hand, low public acceptance of VoIP services in the residential consumer sector are anticipated to hinder VoIP equipment market growth in future. However, technological advancements are likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
VoIP equipment market could be explored by product type, configuration, application, end user and geography. Market by product type could span Hosted PBX Equipment and IP PBX Equipment. Market could be explored by call type as International and domestic. The “International” segment accounts for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include high-quality international IP calling feature at lesser rates as compared to traditional carrier rates. Based on configuration, the VoIP equipment market could span Computer-to-Computer, Phone-to-Phone, and Computer-to-Phone.
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The key applications that could be explored in the market include Residential Use and Enterprise Use. The “Enterprise Use” segment accounts for a prominent share in the market. It is likely to witness substantial growth in the years to come.
The VoIP equipment market could be explored based on end user as IP Connectivity, Hosted Business, Managed IP PBX, Corporate Consumers and Individual Consumers. The “Corporate Consumers” segment accounted for a prominent share in the market. It is likely to witness growth in the years to come. The key factors that could be attributed to the growth of market include key start-ups and SMEs have accepted VoIP communications in their daily activities and increasing demand.
EMEA is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as technological advancement, increasing acceptance and continuous effort made by the telecom service providers to progress the performance of network connectivity to improve the user experience.
Key players operating in the VoIP equipment market include InPhonex LLC, Viber Media S.r.I., Vonage Holdings Corp, Microsoft Corporation (Skype), AT&T, Avaya, Sprint Corporation, Nextiva, Inc., 8×8 Inc., Vonage Holdings Corporation and RingCentral, Inc among others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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