According to the report “VoIP Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” from Transparency Market Research, the global VoIP service market is expected to expand at 9.7% CAGR during the forecast period of 2014 to 2020. In 2013, the market was recorded at US$ 70.90 billion and is projected to be worth US$ 136.76 billion by 2020. While the subscriber base of the global VoIP services market is expected to reach 348.5 million during the same forecast period. Such is the revenue potential and business opportunities linked to VoIP sector.
The growth of VoIP sector is primarily because of the following reasons:
1. Migration from fixed landline to IP based VoIP service – People worldwide are slowly but steadily migrating from fixed landline to IP based VoIP service because of the reduced communication costs and high accessibility to flexible features.
2. Evolution of smartphone technology and communication networks – The rapid adoption of smartphone technology and the availability of high-speed broadband mobile networks such as 3G, LTE, 4G, WiFi and WiMAX have resulted in the steady growth of VoIP sector.
3. Demand for cheaper calling – As VoIP service provides access to cheap international and long distance calling, it is always on high demand.
4. Need for advanced business communication features– VoIP service offers SMBs and Enterprises the much needed business communication features such as messaging & presence, video chat, 4-way calling, etc., to streamline the business communications and enhance the employee productivity.
So, considering the growth trend of VoIP sector, individuals are bound to experience many business opportunities in VoIP sector, especially in the mobile VoIP business.
The growth of VoIP sector is primarily because of the following reasons:
1. Migration from fixed landline to IP based VoIP service – People worldwide are slowly but steadily migrating from fixed landline to IP based VoIP service because of the reduced communication costs and high accessibility to flexible features.
2. Evolution of smartphone technology and communication networks – The rapid adoption of smartphone technology and the availability of high-speed broadband mobile networks such as 3G, LTE, 4G, WiFi and WiMAX have resulted in the steady growth of VoIP sector.
3. Demand for cheaper calling – As VoIP service provides access to cheap international and long distance calling, it is always on high demand.
4. Need for advanced business communication features– VoIP service offers SMBs and Enterprises the much needed business communication features such as messaging & presence, video chat, 4-way calling, etc., to streamline the business communications and enhance the employee productivity.
So, considering the growth trend of VoIP sector, individuals are bound to experience many business opportunities in VoIP sector, especially in the mobile VoIP business.