Major players in the voice over internet protocol (voip) market are Verizon Communications, Comcast, Orange S. A. , AT&T, Charter Communications, Vonage, Altice USA Inc. , Telmex, Time Warner Cable, Numericable, Cox Communications, Rogers Communications, Sprint Corporation, TalkTalk Group, RingCentral, Patton Electronics, San Antonio Telephone Co.

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and OneVoice Communications Inc.

The global VOIP market is expected to grow from $94.16 billion in 2021 to $107.03 billion in 2022 at a compound annual growth rate (CAGR) of 13.7%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The market is expected to reach $181.10 billion in 2026 at a CAGR of 14.1%.

The voice over internet protocol (VoIP) market consists of sales of VoIP technologies by entities (organizations, sole traders, and partnerships) that allows traditional telephony services to operate over computer networks using packet-switched protocols.Voice over Internet Protocol (VoIP) is a communications technology that enables people to communicate via audio over the internet rather than via a traditional telephone line.

VoIP enables making a call directly from a computer, or a special VoIP phone.

The main types of VOIP are integrated access or session initiation protocol (SIP) trunking, managed IP PBX and hosted IP PBX.The session initiation system (SIP) is used to enable the VoIP by managing the actual elements to support voice calls, instant messaging, media distribution and video conferencing.

The different call types include international VoIP calls, domestic VoIP calls and have several access types such as phone to phone, computer to computer, computer to phone and can access. The different mediums include fixed, mobile and is used by various verticals such as consumers, small and medium businesses, large enterprises.

Asia Pacific was the largest region in the VOIP market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The smarter VOIP assistants is shaping the VoIP market.Smarter VoIP Assistants such as Apple’s Siri, Amazon’s Alexa, and Google’s Ok Google can help customers automate a variety of tasks including routing calls to agents and forwarding calls to voicemail.

Furthermore, with these tools at their disposal, consumers will no longer need to send simple questions to agents because the virtual assistant will be able to respond. According to DialogTech, a US-based software company, in 2020, 28% of people are using smarter VOIP assistants for business calls.

The growing adoption of 5G technology is expected to drive the growth of the voice over internet protocol (VoIP) market in the coming years. 5G provides faster transmissions, lower latency, and the ability to connect a larger number of devices by providing gigabyte rates, which will provide enough bandwidth for VoIP. As a result, a growing number of businesses are switching to VoIP to replace their outdated PSTN phone systems. Switching to VoIP improves call quality and dependability while lowering call and infrastructure costs significantly. For instance, according to vXchnge, a US-based colocation and data center service provider, by 2024 5G networks are projected to cover 40% of the world, handling 25% of all mobile traffic data. Therefore, the growing adoption of 5G technology propels the growth of the VoIP market.

In August 2021, TelcoSwitch, a UK-based telecommunications service provider acquired SureVoIP for an undisclosed amount.Through this acquisition TelcoSwitch’s portfolio will be bolstered by the addition of more IP, notably strengthening the company’s solutions for the SOHO/micro-market and paving the way for new residential-based services.

SureVoIP is a UK-based telephony service provider that supplies business VoIP services to the businesses based in UK.

The countries covered in the voice over internet protocol (voip) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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