Global VoIP services market has witnessed significant growth in the past few years due to increasing penetration of smartphones and advancements in communication technologies. Voice over Internet Protocol (VoIP) uses internet rather than a dedicated telephone line for communication. It allows two or more users to communicate over an IP based network through transmission of voice data in packets. Growing adoption of unified communication solutions across enterprises along with cost benefits of VoIP can boost demand in the market. Furthermore, shift towards cloud- based communication and deployment of 4G and 5G networks can offer several growth opportunities for the market growth in the near future. However, network connectivity concerns, lack of security and privacy can hamper the market growth.

Market Dynamics:

Global VoIP services market  growth is driven by factors like rising demand for unified communication and collaboration among enterprises, cost-effectiveness of VoIP calls as compared to traditional telephony, and proliferation of mobile VoIP applications. Rising adoption of cloud-based solutions among small and medium-sized enterprises can also drive the market growth. The transition towards advanced networks including 4G and 5G with their ability to enhance VoIP experience can also drives the market growth. Lack of quality of service, security concerns related to VoIP infrastructure, and dependence on internet connectivity can hamper the market growth. Moreover, service quality degradation due to technical faults or network issues can negatively impact the market growth. Development of integrated communication platforms, immersive communication experiences through virtual and augmented reality, and implementation of VoIP services in industries such as healthcare and education can offer market growth opportunities. Market players are investing in R&D to devise solutions addressing security concerns and bandwidth requirements.

Key features of the study:

• This report provides in-depth analysis of the global VoIP services market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global VoIP services market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include 8x8 Inc., AT&T Inc., Avaya Inc., Bandwidth Inc., BT Group plc, CenturyLink Inc., Cisco Systems Inc., Dialpad Inc., Frontier Communications Corporation, GoTo (LogMeIn Inc.), Intermedia.net Inc., Mitel Networks Corporation, RingCentral Inc., Verizon Communications Inc., Vonage Holdings Corp.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global VoIP services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global VoIP services market

Detailed Segmentation:

• By Call Type
  • International Long Distance VoIP Calls
  • Domestic VoIP Calls
•  By Configuration
  • Computer to Computer
  • Computer to Phone
  • Phone to Phone
• By Vertical
  • BFSI
  • IT & Telecom
  • Healthcare
  • Media & Entertainment
  • Retail & e-Commerce
  • Travel & Hospitality
  • Others
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa 
• Key Players Insights
  • 8x8 Inc.
  • AT&T Inc.
  • Avaya Inc.
  • Bandwidth Inc.
  • BT Group plc
  • CenturyLink Inc.
  • Cisco Systems Inc.
  • Dialpad Inc.
  • Frontier Communications Corporation
  • GoTo (LogMeIn Inc.)
  • Intermedia.net Inc.
  • Mitel Networks Corporation
  • RingCentral Inc.
  • Verizon Communications Inc.
  • Vonage Holdings Corp.