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VoIP services have been the “Golden Child” for years among telecommunications services. Once touted as the newest innovation to streamline business processes and reduce the cost of communications - market research now demonstrates that this technology platform is no longer in the early stages of adoption and has instead moved to the mainstream.

One recent report from Infonetics (News - Alert) shows that the global VoIP services market reached $63 billion in 2012, an increase of 9 percent from 2011.  Also, hosted VoIP and unified communications services revenue enjoyed 17 percent growth in 2012, thanks to the continued demand for enterprise cloud-based services. This growth was the highest among all of the measured segments, creating significant opportunities for vendors in the hosted softswitch space.

.“The market for VoIP services has moved well beyond the early adopter stage to mainstream status in many developed countries. New geographic regions are opening up, and SIP trunking and hosted UC continue to heat things up, fueling growth,” said Diane Myers in the press release. Myers is the principal analyst for VoIP, UC, and IMS at Infonetics Research (News - Alert).

Cloud telephony and the use of the hosted softswitch are increasingly pitched to vendors. Unified communications services are also being promoted as businesses managing operations on multiple sites are seeking out hybrid solutions to their communication challenges.

In addition to these technologies, SIP trunks also had a strong showing with an 83 percent jump from 2011 according to the research. Multi-site businesses are driving this increase as they seeking flexibility and cost savings. The largest business VoIP services segment remains managed IP -BX services, which grew in sales revenue by 9 percent in 2012. 

Overall, the VoIP services market – accounting for both business and residential – is expected to grow to reach $82.7 billion in 2017. Both market sectors are driven by access to greater capabilities, streamlined communications and a lower cost of staying connected. As the quality and reliability only continues to improve and consumers continue to adopt the functionality and benefits associated with mobile VoIP, the market is only expected to continue to evolve.