Dialpad, Microsoft, RingCentral, Vonage Among IP Telephony Market LeadersDialpad, Microsoft, RingCentral, Vonage Among IP Telephony Market Leaders
The integration of 5G technology in IP telephony systems presents new opportunities.
January 12, 2022
IP telephony remains a strong opportunity for the channel. That’s because analysts expect the global market to more than triple in value by 2030, reaching $7.5 billion.
A new Allied Market Research report predicts a compound annual growth rate (CARG) for IP telephony of 13.7%. The market’s value was a little more than $2.1 billion in 2020.
A surge in adoption by businesses, the low cost of IP telephony systems and ease in integration are driving global market growth. On the flip side, the need for a stable and reliable internet connection, and poor voice quality hinder are barriers to adoption. But integration of 5G technology in IP telephony systems presents new opportunities in the coming years.
Pandemic Impact on IP Telephony Market
During the COVID-19 pandemic, mobile IP telephony apps became increasingly popular in different industry verticals. For instance, doctors and health care professionals benefited from using mobile IP telephony applications in offering consultation, providing training and conducting meetings.
Moreover, the education sector used IP telephony infrastructure to facilitate video conferencing for online classrooms. The commercial sectors enabled employees to work from anywhere at any time, and utilize remote access technologies. This enabled flexibility and helped enhance employees’ work quality and productivity.
Based on offering, the solution segment accounted for the highest market share in 2020, holding more than two-thirds of the global market. Expect it to continue to lead through 2030, Allied Market Research says. However, the services segment should have the fastest CAGR due to increasing demand for VoIP phone services over traditional phone lines.
Based on end user, the corporate segment contributed to the largest share in 2020 and should maintain its lead in terms of revenue through 2030.
By region, Asia Pacific, followed by Europe and North America, held the largest market share in 2020. Asia-Pacific should maintain its dominance by 2030. This is due to investments by businesses in solutions and upgrades that can be integrated with unified communications (UC) applications.
About the Author(s)
You May Also Like
November's Top 20 Stories: Broadcom-VMware, AI in UCaaS, Google Cloud Shake-UpDec 04, 2023
Digital Transformation 2.0? IT Teams Look Ahead to 2024Dec 05, 2023
Insight-SADA Deal Makes Tony Safoian Richest Man in the ChannelDec 04, 2023
AWS re:Invent Partner, Vendor News: Cisco, Salesforce, MoreDec 01, 2023