The Growth of Business VoIP
Report predicts strong growth for business VoIP.
14:20 23 April 2018
Voice over Internet Protocol (VoIP) is a communication platform that enables users to make and receive calls without using analog telephone lines. The technology places calls over an internet connection making it extremely cost-effective especially when making international calls.
VoIP services are becoming more and more popular due to the rise of smartphones, making services, such as Skype, Line, WhatsApp and Viber easily accessible to everybody, even those who are always on the go.
Due to its cost-effectiveness, VoIP is widely used in the business sector. It has addressed a number of challenges, including constant changes in locations and time zone barriers, allowing companies to increase their productivity and client satisfaction.
With such huge benefits, corporate use of VoIP is projected to hold the dominant position in global Voice over Internet Protocol Services market. In 2017, the corporate user segment generated $69.4billion revenue. The figures in 2016 were $63.4billion.
The use of VoIP is expected to grow even more when 5G is deployed in major countries by 2020. This technology will offer speeds that are up to 100 times faster than existing 4G, allowing VoIP users to place their calls anywhere they may be.