The fixed VoIP service market in the U.S is set to take off thanks to the growing demand for residential and business VoIP services alike.

Businesses are increasingly turning to VoIP in order to reduce communications costs. In addition to the cost advantages, business VoIP services deliver other benefits including the facility to deliver emergency communications and advanced communications services including multiple extensions, virtual PBX (News - Alert) and more.

According to a recent report from TechNavio, the fixed VoIP services market in the U.S. will ramp up at a CAGR of 10.15 percent over the period 2012-2016. However, the market needs to address the security concerns associated with VoIP. Otherwise, it will pose as a serious challenge to the growth of residential and business VoIP.

Companies that currently dominate the VoIP services market include Comcast, Time Warner Cables, Cablevision Systems, Cox Communications, and Vonage (News - Alert) Holdings. The report also mentions vendors like Charter Communication, Bright House Networks, and 8x8.

Back in September, similar findings from Visiongain (News - Alert) revealed that global revenues from business VoIP will touch nearly $65 billion, making this year a landmark for VoIP services. The findings were encompassed in a study titled, “The Voice Over Internet Protocol Market 2012-2017: Prospects for Skype (News - Alert) and Other Players,” that highlights how the deployment of LTE and 4G networks will continue to revolutionize VoIP services and have a transformative impact on the telecom market overall.

With the FCC (News - Alert) preparing to release new regulations that pertain to VoIP services in the not so distant future, customers will be extremely happy as these mandates for VoIP providers will help to facilitate competitive, reliable and cheap services to customers.