VoIP (voice over internet protocol) is a technology that focuses on IP phones and launches similar value-added services. It is a packetized and digital transmission technology based on IP technology. Its basic principle is compression and encoding processing of speech through a voice compression algorithm, and then packaging these voice data according to IP and other related protocols. It is then packetizing the data through the IP network. After transmitting to the destination, these voice data packets are stringed together, and after decoding and decompression processing, the original voice signals are restored, to achieve the purpose of transmitting voice over the IP network.
The most significant advantage of VoIP is that it can widely use the internet and the global IP interconnection environment to provide better services than traditional businesses. VoIP can cheaply transmit voice, fax, video, and data services on the IP network, such as unified messaging, virtual phones, virtual voice/fax mailboxes, number checking services, internet call centers, internet call management, video conferences, e-commerce, Fax store-and-forward and store-and-forward of various information.
The global VoIP phone market projected to show an influential CAGR rate in the future. It is owing to the cost-effective communication method compared to the internet and other connection, and it has a personal extension that carries office inside a wireless networked environment.
VoIP phone increases the productivity, reduce cost, effective for both large and small organizations, provide mobility to the employees and secure wireless infrastructure as employees can quickly call the clients without installing any lines and jacks.
Additionally, VoIP technology is widely used in enterprises, but home applications are gaining traction. In addition to the lack of popularization of broadband networks, there are also significant constraints on standards, functional characteristics, and architecture. The growing adoption of VoIP by enterprises is high, as the use of VoIP can significantly reduce telephone expenses. IT managers usually already have a dedicated data network and can easily use it to implement VoIP services.
Furthermore, lower costs and enhanced features such as unified messaging, personal (location-independent) phone numbers, phone books/directories, call forwarding, conferences, and other features will help create more user demand for the global VoIP phone market.
VoIP services are very cost-effective, as all the calls are conducted on IP. These IPs are a wireless infrastructure used for co-operating networks, and the most common type is calls through IP phone cards, which are generally used for long-distance voice communications. Moreover, the advantages of cost and bandwidth make VoWLAN attractive. As IP networks and computer networks are common, and the entire network structure is open. Along with it, the cost of network deployment, terminals, and network equipment is relatively low, and users in WLAN hotspots can achieve high quality by paying minimal network fees Voice calls.
VoIP platform is currently an IP phone/network access device mainly used by small and medium enterprises. IP phones look and feel like regular phones, and the only difference is that they are connected to the LAN and not to the PSTN line. Through the IP phone/network interface, people can use the same terminal to access data services, real-time messages, and even web browsers. In almost the same way, as service providers begin to add data services to their wireless voice networks, mobile phones have evolved into a multifunctional communication platform.
Based on Type, the global VoIP phone market classified into Integrated Access/Session Initiation Protocol (SIP) Trunking, Managed IP PBX, Hosted IP PBX. The Hosted IP PBX segment is growing and will continue to grow at a substantial rate in the forecast period. Owing to IP host-based service providers, that eliminate the installation of any jacks and lines and helps in easy calling anywhere in the world without any premises, maintenance, and training cost. Moreover, it mainly focuses on its core features without investing hugely in installing equipment.
Based on Access type, the global VoIP phone market bifurcated into Phone to Phone, Computer to Computer, Computer to Phone. The computer to computer VoIP services is showing substantial growth and will be projected to grow in the forecast period. PC to PC is carried out using a softphone executed on a PC. The caller speaks into a microphone, cell phone, or radiotelephone connected to the PC. This model cannot be extended to the general public, and it is limited to users who are familiar with computers. Using softphone client programs executed on notebooks and PDAs will become more popular as wireless data and voice access services continue to converge. Moreover, softphone helps in making communicating easy to facilitate international and domestic calls, and there is an exchange of instant messages, pictures, video calling, and integration with social media for free.
Based on call type, the global VoIP phone market bifurcated into International VoIP Calls, Domestic Calls. The domestic VoIP calls segment is expected to boost the VoIP phone market in the future. Owing to its features, such as easy to use and saves the cost of local calls. Multiple people can use it at the same time. The overall network structure is expandable and upgradeable, which facilitates the investment in phases of the project.
Based on medium type, the global VoIP phone market bifurcated into fixed and mobile. The mobile VoIP market will bolster the market growth of global VoIP phones in the forecast period. With increasing wireless communication trends in the world and with growing technology like cloud computing, 4G and 5G technology, other application like skype, Viber, Google voice will bolster the growth of the global VoIP phone market.
Based on End-use, the global VoIP phone market segmented into Consumers, SMBs, Large Enterprises. The large enterprises are expected to project a higher increase in the forecast period. Due to smooth communication between employees and customers and solve their queries to provide exceptional services. Additionally, VoIP services help in providing business continuity, increase productivity, collaborations, and also helps in strengthening the internal company process.
Based on application, the global VoIP phone market IT & Telecom, BFSI, Healthcare, Government & Public Sector, Retail, Education, Hospitality. BFSI sector will lead the market global VoIP phone market. Due to its collaboration with cloud VoIP services, which improves the communication process and reduces the cost and also improves the critical function and internal connectivity that increase employees’ responsiveness and productivity.
Based on geography, the global VoIP phone market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific region expected to grow the global VoIP market in the forecast period. Owing to, increasing penetration of cloud computing, technology advancement, increase adoption of smartphones, and many enterprises using cost-effective communication services will fuel the demand of the VoIP phone market.
Companies such as Alcatel Lucent, AT&T, Cisco, Citrix, Deutsche Telekom, Ribbon Communication, Google, Huawei, Microsoft, Orange, Telenor, ZTE, Nextiva, RingCentral, Verizon, Vonage, 8×8, Avaya, Mitel, and Jive Communication and others are prominent player in the global VoIP market.
By Access type
By Call type