Business VoIP Featured Article

VoIP Services Market to Soar Past $278B by 2031

June 20, 2022

If you’ve been in the tech space for a while now, then you know how long the benefits of VoIP technologies have been touted. Forever topping the list of benefits are cost savings, efficiency and scalability. Still, the market for these solutions continues to trend upward and more and more industries make the switch to digital solutions for their operations.


A recent market research report from TMR uncovered that the global VoIP services market is expected to grow at a CAGR of 11.9 percent from 2021 to 2031 and reach over $278.53B.

The research firm attributes the recent push to an increase in adoption for cloud-based VoIP services in the healthcare sector. As providers look for better ways to connect with patients and new emerging tech becomes an accepted way to communicate with patients, the market is seeing sizable demand increases.

In addition to the proliferation of 5G network services, increases in remote workforces - fueled by the ongoing COVID-19 pandemic - are also boosting the VoIP services market. Even those global companies that have been using the technology for a while are now realizing the need for upgraded and improved technology experience to remove the barriers of poor quality experiences while using these solutions.

For VoIP service providers, the time’s never been better to promote the benefits of Voice over Internet Protocol services and differentiate their future-ready offerings.

From convenience to cost benefits and offering softphones, these benefits are attributing to the rise in the market during the forecast period.




Edited by Erik Linask


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