Global Voice over Internet Protocol Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

The Voice over Internet Protocol Services Market Report has been segmented on the basis of product type, end-user, and region.

Voice over Internet Protocol Services Market: Overview

“The Voice over Internet Protocol Services Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The Voice over Internet Protocol Services is a communication platform that allows the user to make calls over an internet connection instead of conventional analog telephone lines.

Voice over Internet Protocol Services Market: Dynamics

The increasing adoption of smartphones and internet-based services across the globe is a key factor expected to drive the growth of the global market over the forecast period.

In addition, technological advancements resulting in the development of advanced networks and increasing adoption of these services over various industrial networks are some other factors expected to further fuel the growth of the target market over the forecast period.

Furthermore, the rising adoption of cloud-based VoIP services in organizations across various industries, owing to cost efficiency and packaged service offerings in order to reduce IT maintenance costs is another factor expected to boost the growth of the target market over the forecast period.

Moreover, the increasing trend of bringing your own device (BYOD) is another factor expected to propel the growth of this market over the forecast period.

However, the lack of developed internet infrastructure across various developing countries is a key factor expected to restrain the growth of the global market over the forecast period.

In addition, fluctuation in internet quality and network jammed during peak hours, due to the increasing number of internet users and unwanted promotion of offers are other factors expected to hamper the growth of the target market over the forecast period.

An ongoing trend observed in the target market is the rising adoption of mobile-based VoIP services such as WhatsApp, Viber, Line, and Skype among smartphone users across the globe. This trend is expected to support the growth of the target market.

In addition, the rising trend of digitalization across various developing countries is also increasing growth in the global market.

Technological advancements, innovative product launches, and rising manufacturers’ investment in research and development activities are some factors expected to create lucrative opportunities for players operating in the target market over the forecast period.

In addition, the implementation of 5G technology across developing countries is an important factor expected to create various opportunities for Voice over Internet Protocol Services over the forecast period.

Voice over Internet Protocol Services Market: Segment Analysis

On the basis of configuration, the computer to computer segment is expected to register a significant share and is expected to continue its growth during the forecast period.

On the basis of end-user, the corporate user segment is expected to register the highest growth in terms of revenue over the forecast period.

Voice over Internet Protocol Services Market: Regional Analysis

The market in the Asia Pacific is expected to dominate the global market in terms of revenue over the forecast period, owing to the rising rate of startups regarding digitalization in various countries such as China, India, Japan, and Australia.

The markets in North America and Europe are expected to register significant growth rates over the forecast period, owing to the presence of major manufacturers and technological advancements for improving networks across various countries in these regions.

Voice over Internet Protocol Services Market Segmentation:

Segmentation by call type:

• International long-distance VoIP calls
• Domestic VoIP calls

Segmentation by configuration:

• Computer to Computer
• Computer to Phone
• Phone to Phone

Segmentation by end-user:

• Individual User
• Corporate User

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa