Global VoIP services Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. The major application of a broadband Internet connection in place of an ordinary (or analogue) phone line, Voice over Internet Protocol (VoIP) technology enables people to make voice calls. The major driving factors for the market are growing telecommunication industry, increase in application of internet for voice calls is majorly driving the growth for the market. Moreover, innovations by the key market players are creating lucrative growth opportunity for the market over the forecast period 2022-2029.

According to the Statista, spending on telecommunications services is anticipated to reach $1.46 trillion in 2022, an increase of around 0.4% from the previous year and a more moderate increase than in 2021, when the sector somewhat recovered from the negative economic effects of the coronavirus (COVID-19) pandemic. However, industry participants are hesitant to utilize cloud computing due to the rising frequency of cybercrimes including data breach and theft, which is limiting the market's expansion.

The key regions considered for the Global VoIP services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Between 2022 and 2029, the Asia Pacific VoIP services industry is anticipated to continue to rule the worldwide VoIP services market. Numerous educational industry operators in Asia Pacific are placing a growing emphasis on releasing cutting-edge online educational applications in order to take advantage of the potential created by the transition in the education sector toward e-learning. For instance, a well-known technology business, Digital Aristotle said in December 2020 that it will team up with Bluebot Digital to release its educational application, Dosti Ki Paathshaala, which offers children a gamified classroom experience. Over the forecast period of 2022-2029, North America is expected to develop at a strong CAGR. According to estimates, the industry will rise as more VoIP services are implemented using a variety of protocols, including Real Time Protocol (RTP), Inter Asterisk eXchange (IAX), H.323, Media Gateway Control Protocol (MGCP), and Session Initiation Protocol (SIP).

Major market players included in this report are:

8?8, Inc.

3CX

AT&T

Avaya

Dialpad, Inc.

GoTo

InPhonex, LLC.

Ooma

RingCentral, Inc.

Microsoft Corporation

Recent Developments in the Market:

A significant leader in the VoIP services market, Dialpad, unveiled Dialpad Meetings in July 2021. This new cloud communications platform offers enterprises a true unified communications as a service (TruCaaS) experience.
By offering seamless unified communication solutions to enterprises, Avaya and Ringcentral, two major participants in the VoIP services market, increased their footprint in Europe in March 2021.
Global VoIP services Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Type, Access Type, Call Type, Medium, End Use, Application, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:

Integrated Access/Session Initiation Protocol (SIP) Trunking

Managed IP PBX

Hosted IP PBX

By Access Type:

Phone to phone

Computer to computer

Computer to phone

By Call Type:

International VoIP calls

Domestic VoIP calls

By Medium:

Fixed

Mobile

By End Use:

Consumer

SMBs

Large Enterprises

By Application:

IT & telecom

BFSI

Government & public sector

Healthcare

Retail

Education

Hospitality

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World