VoIP Services Market Segmentation by Type (Integrated

Access, SIP Trunks, Hosted IP PBX, Managed IP PBX, and

Others); and by End-User (Retail, Education, Healthcare,
BFSI, Government, IT & Telecom, Hospitality, and Others) –
Global Demand Analysis and Opportunity Outlook 2030

In the News

Recent News:-

 June 2021: Avaya Inc. and RingCentral, Inc. announced a wide

range of capabilities for Avaya Cloud Office by RingCentral
Unified Communications as a Service (UCaaS) solution. These
include several Avaya device-specific improvements allowing easy
migration, additional video, and global expansion features, thus
extending the customers' ability for connecting across any device
and work environment.
 May 2021: AT&T announced a USD 43 billion deal to merge its
content unit WarnerMedia with Discovery. The agreement allows
AT&T to form a new media company with Discovery.
 May 2021: Microsoft announced the general availability of Surface
Laptop 4 for commercial and education customers in India.
Surface Laptop 4 is an innovative & versatile solution aimed to
cater to the growing needs of the users while continuing to work or
learn remotely or in hybrid work environments.

VoIP Services Market Highlights 2022-2030

The VoIP services market is estimated to grow with a moderate CAGR

during the forecast period, i.e., 2022-2030. The growth in adoption of
cloud-based VoIP services across several enterprises, along with the
developments in 5G technology, is expected to fuel the progress of this
market. The VoIP services offer communication services over a packet-
switched network via data and voice transfer technologies. VoIP services
modify voice signals into digital signals, which are then carried over the
IP-based network. VoIP services provide highly cost-effective
communication solutions compared to traditional landlines and have a
wide range of beneficial features for businesses. These include video &
audio conferencing, screen-sharing, interactive voice response,
automated attendants, and others. Cloud-based VoIP services are
increasingly being adopted by organizations due to their cost-effective
nature and diversity of advanced features. The developments in 5G
technology are also expected to boost the demand for VoIP services
globally. The growth of the market can also be attributed to factors such
as the increasing need for improving business productivity, increase
security & privacy, and enhance the output of their organization.
Organizations are investing in VoIP services to increase productivity and
agility within the organization’s workforce and improve user
engagement. According to the data collected from the International
Telecommunications Union, the total internet penetration worldwide
was estimated to be 53.6% in 2019, with greater than 86% of the
internet users living in developed countries. The rapid penetration of the
internet on a global scale has escalated the use of VoIP services in
various sectors, like in the education sector, VoIP use has raised the
education quality with the help of enhanced communication between
teachers, students, and parents as well. These factors are expected to
contribute significantly to market growth.
The market is segmented on the basis of type into integrated access, SIP
trunks, hosted IP PBX, managed IP PBX, and others, out of which the
SIP trunks segment is anticipated to grab the largest share by the end of
2021 on account of the fact that it allows VoIP users to benefit from
shared lines and increase their communication flexibility. Moreover, SIP
trunks can lead to considerable savings of costs as it reduces the need for
hardware & physical phone lines, which is also projected to contribute to
the growth of the segment during the forecast period.

On the basis of end-user, the IT & telecom segment in the global VoIP
services market is projected to grow with a significant CAGR over the
forecast period. The growth of the segment can be attributed to the wide-
ranging use of VoIP services in the IT & telecom industry for resolving
customer queries effectively, analysing key metrics with the help of call
analytics, handling high call traffic, providing multiple phone lines to
BPO’s, and others.
Major Macro-Economic Indicators Impacting the Market
Growth

Global Research and Development Expenditure (% of GDP), 2015-2018

2018

2017

2016

2015

Source: UNESCO Institute of Statistics

The never-ending growth in internet accessibility around the world along
with numerous technological advancements comprising 5G, blockchain,
cloud services, Internet of Things (IoT), and Artificial Intelligence (AI)
among others have significantly boosted the economic growth in the last
two decades. As of April 2021, there were more than 4.5 billion users that
were actively using the internet globally. Moreover, the growth in ICT
sector has significantly contributed towards GDP growth, labor
productivity, and R&D spending among other transformations of
economies in different nations of the globe. Furthermore, the production
of goods and services in the ICT sector is also contributing to the
economic growth and development. As per the statistics in the United
Nations Conference on Trade and Development’s database, the ICT good
exports (% of total good exports) globally grew from 10.816 in 2015 to
11.536 in 2019. In 2019, these exports in Hong Kong SAR, China
amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China,
25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in
Vietnam. These are some of the important factors that are boosting the
growth of the market.

VoIP Services Market Regional Synopsis

Geographically, the market is segmented into North America, Latin

America, Europe, Asia Pacific, and the Middle East & Africa region. The
market in the Asia Pacific is predicted to grow at the highest CAGR over
the forecast period owing to the rising number of smartphone & internet
users and the consequent focus of companies on providing mobile VoIP
solutions in the developing countries of the region as China & India.
Furthermore, in 2021, the market in North America is evaluated to
occupy the largest share in terms of revenue, owing to the lead in
technology advancements and the greater adoption of VoIP services by
retail, education, healthcare, & other end-users in the region.
Additionally, North America also leads in terms of the presence of major
market players, which is also expected to contribute to the market
growth in the region. Alternatively, the market in Europe is also
anticipated to occupy a significant share in the VoIP services market on
account of the governmental efforts in technology improvements and the
increasing focus on enhancing employee efficiency & organizational
productivity in the region. According to the European Union statistics,
92% of the young individuals in Europe had access to mobile phones to
access the internet away from their home whereas the percentage of
individuals who used portable computers for the same purpose was
52%. The VoIP service providers are focusing on providing advanced
features to organizations and individuals as well, which is expected to
contribute to the market growth in the region.

Global VoIP Services Market Share (in %), By Region , 2030

Asia-Pacific North America Europe

Latin America Middle East & Africa
The global VoIP services market is further classified on the basis of
region as follows:

 North America (U.S. & Canada) Market size, Y-O-Y growth &
Opportunity Analysis
 Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
Market size, Y-O-Y growth & Opportunity Analysis
 Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia,
Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
 Asia-Pacific (China, India, Japan, South Korea, Indonesia,
Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market
size, Y-O-Y growth & Opportunity Analysis
 Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain,
Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle
East and Africa) Market size, Y-O-Y growth & Opportunity
Analysis

Market Segmentation

Our in-depth analysis of the global VoIP services market includes the
following segments:

By Type

 Integrated Access
 SIP Trunks
 Hosted IP PBX
 Managed IP PBX
 Others
By End-User

 Retail
 Education
 Healthcare
 BFSI
 Government
 IT & Telecom
 Hospitality
 Others

Growth Drivers

 Growth in Adoption of Cloud-Based VoIP services Across Several

Enterprises
 Developments in 5G Technology

Challenges

 Risks Associated with the Breach of Data

 Apprehensions Related to the Quality of Service

Key Players Dominating the Market

 AT&T
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
 o Regional Presence
o SWOT Analysis
 Avaya Inc.
 Cisco
 Microsoft
 Nextiva
 Deutsche Telekom AG
 Orange Business Services
 8x8
 RingCentral, Inc.

FAQs

1. What are the major factors driving the growth of the VoIP services
market?

Ans: The growth in adoption of cloud-based VoIP services across several

enterprises and the developments in 5G technology are the key factors
driving market growth.

2. What would be the CAGR of the VoIP services market over the
forecast period?

Ans: The market is anticipated to attain a moderate CAGR over the

forecast period, i.e., 2022-2030.
 3. Who are the major players dominating the market?

Ans: The major players dominating the VoIP services market are AT&T,
Avaya Inc., Cisco, and Microsoft, among others.

4. How are the company profiles selected?

Ans: The company profiles are selected on the basis of revenues

generated from the product segment, geographical presence of the
company which determine the revenue generating capacity as well as the
new products being launched into the market by the company.

5. What are the segments in the VoIP services market?

Ans: The market is segmented by type, end-user, and region.

6. Which segment under the end-user segment captures the largest

market size in the VoIP services market?

Ans: With respect to end-user, the IT & telecom segment is anticipated

to hold the largest market share owing to the wide-ranging use of VoIP
services in the IT & telecom industry owing to its multiple features.

7. What are the challenges affecting the market growth?

Ans: The risks associated with the breach of data and the apprehensions
related to the quality of the service are estimated to hamper market
growth.
 8. Which region will provide more business opportunities for growth
of VoIP services market in future?

Ans: The market in Asia Pacific region will provide ample growth
opportunities owing to the rising number of smartphone & internet users
and the focus of companies on providing mobile VoIP solutions in the
region.