VoIP stands for (Voice Over Internet Protocol). It is a transmission of multimedia content and voice over internet protocol networks. It is a category of hardware and software that helps people to use the internet as the transmission medium for telephone calls and transmits voice data in packets using internet protocol. The main benefit for VoIP is that the telephone calls over the internet do not acquire a charge irrespective to what user is paying for the internet.
Industry participants focusing intensely on pushing VoIP solutions across corporate and individual consumer sectors may drive the growth of market. However, this has led to multi-pronged developments, especially in network infrastructure and cloud-based models. However, technological advancements which leads to roll out of advanced networks and increase usage of services over various networks may propel the growth of the market. Additionally, business consumers adopting cloud-based VoIP services due to cost effectiveness and packaged service offerings is another factor responsible for the growth of market.
On the basis of segmentation, the market is divided into various segments such as type, end-user, and region. The type is bifurcated into mobile only, and others. The demand for mobile type is growing, owing to the increase in mobile users. The end-users of the market include, large enterprises. The large enterprises are further categorized into small and medium sized enterprises and individual consumers.
The global VoIP software market is split geographically into different regions such as North America, Europe, APAC, and LAMEA. North America region commands over the market in terms of revenue. Asia Pacific is considered to grow at fastest rate owing to increase in adoption of mobile devices and growing internet penetration.
Based on the competitive analysis, the market is divided into many different players such as 3CX, AVOXI, Cisco, CloudCall, Digium, Line2, MessageBird, OnSIP, Phone.com, and ZoiPer. These key players undergo various development strategies such as expansion, product launch, collaboration, and others to sustain the growth of the market.
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