Technavio Names Top Suppliers of Global VoIP Services

The global VoIP subscriber base is expected to reach nearly 205 billion by 2020, achieving revenue in excess of $86 billion. This is a compound annual growth rate of almost 10 percent even while other forms of telecommunication services are entering the marketplace. The 2016 Technavio Global VoIP Services – Procurement Market Intelligent Report provides an analysis of the market, which also includes identifying the top five global VoIP service providers. This year the companies were 8*8, Vonage, RingCentral, Jive Software, and Nextiva.

In addition to identifying the top companies, the report also provides insight into the overall market dynamics that is currently taking place in the VoIP segment. According to Technavio, this includes capitalizing on opportunities while minimizing the impact of competition and addressing market size, forecasts, drivers, challenges, trends and more.

The report revealed the global VoIP services industry is highly fragmented, with dominant players and small service providers competing for customers. Why global service providers are able to address the needs of large organizations with better options and quality of service, the small companies have an edge when it comes to local markets.

The growth of VoIP is being driven by advances in technology, the cost of the services and the deployment of the infrastructure to support services in many parts of the world. The delivery of VoIP on smartphones and tablets is also responsible for the growth, as service providers integrate mobility as part of their offerings.

The selection of the top five companies was based on skills and expertise, geographical presence, price and service portfolios, and compliance with regulations and standards.

8*8 is a service provider with a strong research and development that has resulted in the company holding around 100 patents in the field of technological innovation. It is a market leader in business cloud communication, using the SaaS model to pioneer the development of Internet protocol voice, video and data communication technologies.

Nextiva was identified as one of the fastest tech companies operating across different industry sectors with comprehensive services, including cloud phone systems, analytics, PBX SIP trunking, phones and devices, and more. The company currently serves more than 100,000 businesses in the US in finance, healthcare, insurance, legal, marketing, real estate, and retail.

Vonage, RingCentral and Jive Software are also global players with communication services for a wide range of industries with cloud and on premises deployment options.

As cloud technology continues to provide all of the IT needs of an organization without the limitations of scale, small CSPs will be able to grow and provide services to markets outside of their region. Technavio said this will require the large companies to create proprietary systems with innovative solutions delivering the best possible service quality.

Edited by Maurice Nagle