A methodology used with group of technologies for the delivery of voice communications and multimedia sessions over Internet Protocol (IP) networks such as the Internet is called as Voice over Internet Protocol (VoIP). VoIP is available on many smartphones, personal computers, and on Internet access devices, whereas calls and SMS text messages may be sent over 3G/4G or Wi-Fi.
A major development started in 2004, which was the introduction of mass-market VoIP services that utilized existing broadband Internet access through which subscribers placed and received telephone calls in almost same way as they would via the public switched telephone network (PSTN). The transition to packet-switched networks from circuit switch networks is boosting the growth of mobile VoIP market since then.
Global VoIP Services Market for Hosted Business, IP Connectivity, Managed IP PBX, Individual Consumers and Corporate Consumers: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021
The deployment of 4G/LTE is one of the key factors boosting the VoIP services market growth. Factors such as increase in the capability of wireless bandwidth services along with growing investment by telecom operators in order to deploy a high-speed network are anticipated to enhance the usage of these services in the near future. In addition, mobile VoIP service minimizes the need for voice plans and text add-ons, and achieves flexibility in making unlimited, inexpensive or even free calls.
As the competition in the VoIP market is intense, several novel service providers are mainly focusing on increasing their market presence by offering low-cost services that enable the use of internet-based communication. Mobile VoIP is highly dependent on the reliable high-speed network.
Based on the services, the global VoIP is segmented as domestic VoIP calls, international long distance VoIP calls, and video conferencing. On the basis of configuration, the market is segmented as phone-to-phone, computer-to-phone, and computer-to-computer. The video conferencing segment is anticipated to grow at the fastest rate over the forecast period. Moreover, factors such as need for scalable communication methods and increasing globalization are boosting the demand for video conferencing segment. Nowadays, rising trend of bring your own device (BYOD) is also boosting the demand of video conferencing in the corporate sector.
VoIP services are anticipated to witness considerable growth owing to the increasing number of smartphone users that use instant messaging services such as Facebook and WhatsApp. The number of monthly active Facebook users has experienced a drastic increase in September 2015 as compared to December 2015 data. Hosted private branch exchanges (PBXs) are the latest VoIP trend in the market gaining attention of most of the population since 2015. Also, the economics and extraordinary feature of hosted PBXs are bound to remain a dominant VoIP trend even since 2015. HD VoIP was also the latest marketing scheme by Canadian telco Iristel.
Major players dominating the mobile VoIP market are Microsoft Corporation, Facebook Inc., and Vonage Holdings Corporation. The competition in providing VoIP offerings is high, which results in enabling the service providers to offer numerous products and services.