Global IP Telephony Market Anticipated to Generate a Revenue of $7,680.5 Million by 2028 and Rise at a CAGR of 13.4% during the Forecast Timeframe from 2021 to 2028 [230-Pages] | Research Dive
The global IP telephony market is expected to witness remarkable growth by 2028, owing to the increasing number of cyber-attacks worldwide. Regionally, the Asia-Pacific region is expected to have the largest share of the market.
NEW YORK, July 28, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "IP Telephony Market by Offerings (Services and Solutions), Type (Integrated Access/Session Initiation Protocol (SIP) Trunking, Hosted IP PBX, and Managed IP PBX,), Call Type (Domestic Calls and International Calls), Installation Type (Wireless and Wired), Enterprise Size (Large Enterprise and Small & Medium Enterprises(SMEs)), End-user (Corporate, Government, and Residential), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".
According to the report, the global IP telephony market is anticipated to generate a revenue of $7,680.5 million by 2028 and rise at a healthy CAGR of 13.4% during the estimated timeframe from 2021 to 2028.
Dynamics of the IP Telephony Market
Due to the increasing number of cyber-attacks and risks all across the globe, businesses are rapidly adopting IP telephony products and services to safeguard vital data, which is expected to fortify the growth of the market during the analysis period. Moreover, the increasing implementation of artificial intelligence (AI) in IP telephony is predicted to create huge growth opportunities for the IP telephony market over the forecast timeframe. However, the lack of funds for the implementation of IP telephony may impede the growth of the market during the estimated timeframe.
Covid-19 Impact on the IP Telephony Market
Though the rise of the Covid-19 pandemic has devastated various industries, however, it has had a positive impact on the IP telephony market. To control the rapid transmission of the virus, many organizations across the world have been forced to adapt the work from home policy. This further led the companies to adopt IP solutions that make employees communicate and share data anywhere in the world with better sources. All these factors have boosted the growth of the market during the pandemic period.
Segments of the IP Telephony Market
The report has divided the IP telephony market into segments based on offerings, type, call type, installation type, enterprise size, end-user, and region.
Key Players of the IP Telephony Market
The major players of the IP telephony market include
These players are widely working on the development of new business strategies such as mergers and acquisitions, product development, partnerships, and collaborations to attain leading positions in the global industry. – Inquire Here to get access for the key manufacturers Development Strategic Report
For instance, in September 2021, Freshworks Inc., a leading provider of modern SaaS solutions, announced its partnership with Birlasoft Inc., a renowned IT services and consulting company to provide enhanced customer experience through new-age digital transformation solutions.
Further, the report also summarizes other important aspects including product portfolio, the latest strategic developments, the financial performance of the key players, and SWOT analysis.
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Mr. Abhishek Paliwal