Voice over Internet Protocol is a tactic, which utilizes several
data and voice transmission technologies such as IP telephony, voice above
broadband and Internet telephony to offer communication services above a
packet-switched network. VoIP services necessitate exchange of voice signal
into digital signals, which are then conceded over the IP supported network.
VoIP services are employed using several protocols such as, Session Initiation
Protocol, Real Time Protocol (RTP), Inter Asterisk exchange and Media Gateway
Control Protocol The worldwide VOIP services industry is determined by industry
participants focusing extremely on pushing VoIP solutions across individual
consumer sectors and corporate. This trend has directed market to multi-pronged
advancement, particularly in cloud-based models network infrastructure.
Open-source and Proprietary platforms are continuously witnessing the
accumulation of novel technologies. Hence, consumers are demanding advanced and
novel solutions to decrease costs for getting benefits of communication
services.
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This vigorous expansion is
accredited to service providers transitioning from switched circuit networks to
switched packet networks owing to which the market is expected to witness a
shift from conventional telephony using GSM or CDMA technology, to VoIP
services utilizing cellular networks such as 4G and 3G. The major benefit of
VoIP facility is its cost performance. VoIP is competent of offering phone
number portability and rich media services. Moreover, VoIP is proficient in
providing features such as integrated applications, service mobility, user
control interface and some other rich qualities. VoIP services are simple to
establish, apply and troubleshoot. The VoIP services find its function across
end-use sections such as residential, corporate and mobile network providers.
On the basis of call type, the
market can be segregated into domestic VoIP calls and international VoIP calls.
The section of international long distance calls is expected to generate
maximum revenue over the forecast period owing to their extensive demand. On
the basis of geographical region the market can be segregated into Asia
Pacific, North America, Europe and Rest of the World. Asia Pacific is expected
to witness the rapid expansion over the forecast period owing to the network
advancement in budding economies such as India, China, Indonesia and some other
offers tremendous opportunities for the VoIP service provider to widen their
subscriber base. North America is expected to capture largest revenue over the
forecast period owing to their extensive customer base coupled with rapid
technological advancements in this area. North America is followed by Europe.
Demand for mobility and BYOD
trend is directing to expansion of smart devices in the market and thus
increasing the enlargement of VoIP services around the globe. Additionally,
technical advancement has allowed the network operators to augment their
infrastructure and utilization of VoIP on these system has amplified over the
last few years. Further, business customers are implementing the cloud
supported business solutions, which are cost efficient and provide high class
of service. Though, the lack of consciousness among the residential consumer’s
section and lack of promotional performance by VoIP service providers is
expected to pose challenge for the expansion of the market.
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On the basis of configuration,
the market can be segregated into computer to phone, computer-to-computer and
phone to phone. At present computer to phone configuration segment subjugates
the market. But, with the going up demand for mobility among the residential
and corporate consumers, it is expected phone to phone VoIP or mobile VoIP
market will generate maximum revenue for VoIP services provider over the
forecast period. On the basis of end-use segment the market can be broadly
classified corporate consumers, residential consumers, managed IP PBX, IP
connectivity and hosted business. Hosted business section is expected to
generate maximum revenue over the forecast period. These customers can take
advantage of VoIP services on a rigid leased line of on wireless networks
offered by telecommunication service providers. The customers can make
international stretched distance call coupled with domestic calls utilizing
VoIP services.
Some of the key players in this
market are iNet Telecom Ltd. , AT&T, Ring Central, Inc., Microsoft
Corporation, 8×8 Inc, Vonage Holdings Corp, Viber Media S.r.l, Nextiva, Inc.,
Avaya, and Sprint Corporation. The enterprises such as AT&T and Verizon are
broadening their horizons by getting into the industry with their creations
such as AT&T call vantage. The impact of small public reception is expected
to demur over the forecast period. Some policies and regulations, implemented
by different countries governments in budding economies to safeguard and
protect local telecom industry is expected to hamper the escalation of the
worldwide VOIP services industry to a large extent which in return will fuel of
the growth of companies in this market. Furthermore, the enterprises such as
AT&T and Verizon are broadening their horizons by getting into the industry
with their creations such as AT&T call vantage.
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