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May 15

VoIP Services Revenue Reaches $63 Billion as Growth Continues

News reports continue to share insights into the phenomenal growth of VoIP services throughout the commercial and residential markets. The benefits of this communication platform are clear and growth shows no signs of waning. In fact, according to market analysis, revenue grew to $63 billion in 2012.

As the demand for big data continues to grow, migrating to a VoIP based system is even more attractive. According to this Misco blog, revenues from business VoIP services increased by 9 percent in 2012 as demand continued to grow. This pattern of growth is expected to continue, with Infonetics (News - Alert) projections putting market revenue at $82.7 billion by 2017.

Infonetics’ head analyst for VoIP, UC and IMS, Diane Myers, shared that the VoIP services market has passed the early adopter stage and moved into the mainstream in a number of developed countries. More regions are expected to follow in their footsteps, continuing to drive demand. The uptake of SIP trunking and hosted Unified Communications (News - Alert) is steady and driving a large portion of the VIP growth.

The capabilities extended to remote sites and brand locations provide a strong business case for VoIP deployment. As a result, according to Myers, the rising demand for hybrid solutions among multi-site enterprises is driving vendors to promote cloud telephony and UC services along with SIP trunking.

UC services and hosted VoIP have enjoyed the highest growth rate as revenues attributed to these services grew by 17 percent. The demand for cloud-based services among the enterprise remains steady, while the adoption of SIP trunks has jumped by 83 percent as compared with 2011. IP PBX (News - Alert) continues to dominate in the VoIP services market as dedicated enterprise systems still play an important role. Revenues generated in this space were up 9 percent in 2012.

The demand for VoIP access is expanding in global markets for sure as users realize the benefits afforded. This is especially true for mobile users. For those operating in the Netherlands, it appears that access to mobile VoIP apps has been a key driver. According to this Telappliant post, users there want access to VoIP apps at all times and 32 percent have access to VoIP capability on their smartphone.

VoIP enables these mobile users to leverage their data connection to complete calls, a more cost-effective way to communicate across the miles. The challenge, however, is that it cuts into revenue for the mobile carrier, which has limited VoIP integration for the mobile device. As demand continues to grow, however, this is one challenge likely to be overcome.

Source: TMCnet