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Global market for Business VoIP Services is projected to reach US$20.8 billion by the year 2018, according to a new market research report by Global Industry Analysts (GIA). Business VoIP market is primarily driven by the demand for mobile VoIP services and rapid adoption of VoIP among small and medium businesses (SMBs).

According to GIA report, “Business VoIP Services: A Global Strategic Business Report”, Europe represents the largest regional market for business VoIP accounting for a majority share in global revenue. Asia Pacific is the fastest growing market with annual revenues growing at CAGR of about 17.3 percent over the analysis period. The growing business activities and international business expansions in countries like India and China spur this growth.

Managed IP PBX Services is the fastest growing market segment. GIA expects the segment to grow at a CAGR of 12.2 percent over the analysis period. The hosted VoIP and unified communications market will be driven by the value and cost savings offered by these technologies.

Major business VoIP players in the global marketplace include 8x8 (News - Alert), AAPT, AT&T, BroadView Networks, British Telecommunications, Cable & Wireless Worldwide, Cbeyond, CenturyLink,, Comcast Corporation, Megapath, Verizon Business (News - Alert), INET Telecoms, (Voipfone), Level 3 Communications, M5 Networks, Masergy Communications, Net2Phone, New Global Telecom, NTT Communications Corporation, Orange, XO Communications (News - Alert), among others.

Business VoIP offers several benefits. Businesses can use the existing Internet infrastructure to place free phone calls, thereby driving significant cost benefits. By allowing both voice and data traffic to be transmitted over a single network, VoIP saves considerable infrastructure costs for businesses.

According to GIA, mobile VoIP is the next big thing in communications. Increasing number of mobile workforce and constant need for such employees to stay in touch with corporate headquarters are driving strong business case for Mobile Business VoIP services. The market is also driven by the hardware price reductions of IP telephony systems and components, especially in emerging Asian markets.

Business VoIP enhances productivity by offering advanced features and capabilities such as desk calling, auto attendant, outlook integration, remote office, voicemail, call record, conference calling, and video conference. Unified communications and collaboration (UC&C) is touted as one of the most significant benefits of VoIP as it reduces travel costs while also improving employee productivity.

Meanwhile, a recently released report from Visiongain (News - Alert) substantiates that mobile VoIP is one of the factors driving business VoIP globally. The economic woes, combined with the proliferation of Internet enabled smartphones and tablets, have accelerated the growth of VoIP across all user segments, the report said. 

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