Global VoIP Services Market Report 2021: Analysis by Call Type, Access Type, Service Type, End-use, Medium, End-user Industry and Region - Forecast to 2026
DUBLIN, Oct. 21, 2021 /PRNewswire/ -- The "Global VoIP Services Market 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global market for VoIP services should grow from $85.2 billion in 2021 to $102.5 billion by 2026 with a compound annual growth rate (CAGR) of 3.8% for the period of 2021-2026.
This report provides an overview of the global market for VoIP services and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period 2021 through 2026. Revenue forecasts for this period are segmented based on call type, access type, service type, end-use, medium, end-user industry and region.
Voice over Internet Protocol (VoIP) is the digital form of voice communications done using internet networks, and it has replaced analog phone systems. Generally, VoIP uses internet protocols (IPs) to connect Private Branch Exchanges (PBXs), and it is capable of interchanging rich voice, video, and data exchange services.
VoIP uses packet-switched networks to make communication and is seen as the replacement of old Public Switched Telephone Network (PSTN) telephony. VoIP is no longer limited only to voice services and now various multimedia protocols provide video services too.
Despite the havoc and devastation, it caused in other sectors of the global economy, the COVID-19 pandemic has boosted the market for VoIP services, especially in industries such as IT and telecom, BFSI and retail. As a result of pandemic-related lockdowns and restrictions, most companies enabled their employees to work from home, and education institutes also started offering online classes to curb the spread of the virus.
In addition, most of the countries are presently testing the 5G, which will further enhance the connectivity across the industries. Moreover, as the pandemic subsides, a number of companies in the VoIP industry are expected to move their services over to the cloud, and this shift is expected to drive the rapid adoption of cloud-based VoIP services.
It is expected that the adoption of VoIP services will continue even after the pandemic ends. As VoIP had served as a cost-efficient alternative to traditional phone systems, it has played an important role in streamlining business calls and internal communications between co-workers during the pandemic. Thus, it is expected that businesses will continue to use VoIP services in the future.
The report also focuses on the major driving trends and challenges that affect the market and the competitive landscape. It explains the current trends in the VoIP services market, and it concludes with detailed profiles of the major players and strategies adopted by the players to enhance their market presence.
All throughout, the eport estimates the global market size for VoIP services in 2020 and provides projections of the expected market size through 2026.
The Report Includes
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview and Background
Chapter 4 Market Breakdown by Call Type
Chapter 5 Market Breakdown by Access Type
Chapter 6 Market Breakdown by Service Type
Chapter 7 Market Breakdown by End-User Type
Chapter 8 Market Breakdown by Medium
Chapter 9 Market Breakdown, by End-User Industry
Chapter 10 Market Breakdown by Region
Chapter 11 Competitive Landscape
Chapter 12 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/uu6dsg
Research and Markets
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