As those in the business already know, VoIP (Voice over Internet Protocol) is enjoying a renaissance of sorts, after having worked in the shadows for a number of years. And now, according to new data from Persistent Market Research (PMR), it’s poised to grow even stronger. PMR is a U.S.-based full-service market intelligence firm specializing in syndicated research in a number of areas, including technology.
In its most recent findings, PMR was bullish on the expansion of VoIP.
“The BYOD trend and demand for mobility is leading to growth of smart devices in the market and hence increasing the growth of VoIP services across the globe,” PMR noted. “Additionally, technological advancement has enabled network operators to enhance their infrastructure, and the use of VoIP on these networks has increased over the past few years. Further, business consumers are adopting the cloud-based hosted business solutions which are cost-effective and offer a high quality of service. Moreover, companies such as Verizon (News - Alert) and AT&T are diversifying their offering by getting into the market with their products such as AT&T call vantage.
Yet while the technology continues to grow, it’s not seeing explosive growth everywhere. “Lack of awareness among the residential consumer segment and lack of promotional activities by VoIP service providers is posing a challenge for the growth of the market,” PMR said. The company noted the emerging markets in such countries as India, Brazil, Indonesia, China, and the Philippines where growth is possible, once awareness levels are raised.
Other areas where growth is possible were also identified.
“Currently the market is dominated by computer to phone configurations,” PMR said. “However, with the rising demand for mobility among corporate and residential consumers, it is expected that the market for phone to phone VoIP or mobile VoIP (mVoIP) will raise the revenue for VoIP service providers. The end-use segment is broadly classified as residential consumers and corporate consumers.”
With the convenience and cost savings factored in, it’s no surprise that VoIP is well positioned for a surge.
Edited by Stefania Viscusi