2025 Voice Over Internet Protocol (VoIP) Services Industry Trends Report: Long-Term Outlook Through 2034

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How Large Will the Voice Over Internet Protocol (VoIP) Services Market Size By 2025?
The market size of services based on voice over internet protocol (VoIP) has seen a significant surge lately. It's projected that from $151.21 billion in 2024, it will swell to $169.38 billion by 2025, with a compound annual growth rate (CAGR) of 12.0%. Historically, this growth has been driven by factors such as the incorporation of PBX capabilities into VoIP phone systems for businesses, the rising popularity of web-based applications, the growing demand for alternative communication services, and the increase in the number of onsite hardware.

How Big Is the Voice Over Internet Protocol (VoIP) Services Market Size Expected to Grow by 2029?
The market size for voice over internet protocol (VoIP) services is projected to experience remarkable expansion in the coming years, with an estimated value of $264.27 billion in 2029 at a compound annual growth rate of 11.8%. This surge over the forecast period is mainly due to cost saving and improved security from cloud-based VoIP, growing use of mobile VoIP solutions, broadening smartphone usage, and enhanced customer service in call centers owing to VoIP. Key trends anticipated in the forecast period incorporate advances in network technology, the incorporation of 5G networks, the emergence of mobile VoIP applications, the necessity for mobility in communication solutions, and the utilization of web browsers and mobile devices for voice and video calls.

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Which Key Market Drivers Powering Voice Over Internet Protocol (VoIP) Services Market Expansion and Growth?
The increasing trend of teleworking is anticipated to boost the expansion of the voice-over-internet protocol (VoIP) services market in the future. Teleworking, in this context, relates to staff members operating beyond the confines of a conventional office, frequently from their households or alternative sites. This mode of work grants employees a higher degree of flexibility in coordinating their work programmes, thereby allowing for a more favourable work-life equilibrium. Telework teams utilise voice-over-internet protocol (VoIP) services to enable immediate communication through voice calls. This bolsters cooperation, advances team unity and provides unhindered interaction irrespective of geographical separation or physical office restrictions. For instance, in February 2022, as per AT&T Inc., a telecommunications corporation based in the US, the predictive fraction of businesses adopting a combined work pattern, where staff members switch between telework and office work, is set to climb from 42% in 2021 to 81% by 2024. Consequently, the soaring adoption of teleworking is fueling the expansion of the voice-over-internet protocol (VoIP) services market.

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Which Fast-Growing Trends Are Poised to Disrupt the Voice Over Internet Protocol (VoIP) Services Market?
Leading firms in the VoIP services sector are concentrating their efforts on technological advancements, such as unified communications systems, in order to improve service delivery and customer satisfaction. A unified communication system integrates diverse communication tools like voice, video, messaging, and collaboration into one single platform, optimizing organizational communication and productivity. For example, in October 2023, 8x8 Inc., a renowned communication solutions provider based in the US, introduced its XCaaS (eXperience Communications as a Service) platform. This platform marks a substantial progression in the domain of integrated communication solutions for businesses. XCaaS consolidates voice, video meetings, team chats, and contact center competencies into a singular platform. This consolidated strategy allows businesses to handle all their communication necessities through a single vendor solution, thereby enhancing efficiency and uniformity. The platform also incorporates high-end AI features that permit businesses to develop conversational self-service experiences. This enables customers to communicate with the system using everyday language, which minimizes waiting periods and improves service standards.

What Are the Emerging Segments in the Voice Over Internet Protocol (VoIP) Services Market?
The voice over internet protocol (VoIP) services market covered in this report is segmented -

1) By Type: Session Initiation Protocol (SIP) Trunking, Hosted IP PBX, Managed IP PBX
2) By Call Type: International VoIP Calls, Domestic VoIP Calls
3) By Configuration: Computer-To-Computer, Computer-To-Phone, Phone-To-Phone
4) By Industry Vertical: Information Technology (IT) And Telecom, Healthcare, Banking, Financial Services And Insurance (BFSI), Retail, Hospitality, Government And Public Sector, Education, Manufacturing, Other Industry Verticals

Subsegments:
1) By Session Initiation Protocol (SIP) Trunking: Hosted SIP Trunking, On-Premise SIP Trunking
2) By Hosted IP PBX: Cloud-Based Hosted IP PBX, Hybrid Hosted IP PBX
3) By Managed IP PBX: Cloud-Based Managed IP PBX, On-Premise Managed IP PBX

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Who Are the Global Leaders in the Voice Over Internet Protocol (VoIP) Services Market?
Major companies operating in the voice over internet protocol (VoIP) services market are Alphabet Inc., Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Cisco Systems Inc., Orange S.A., Rakuten Inc., Zoom Video Communications Inc., Twilio Inc., Tata Communications Ltd., RingCentral Inc., Ribbon Communications Inc., Ooma Inc., Aircall SAS, 8x8 Inc., Mitel Networks Corporation, LogMeIn Inc., Nextiva Inc., Intermedia.net Inc., Lifesize Inc., 3CX Ltd., InPhonex LLC, Vonage Holdings Corp., Dialpad Inc., CallCurrent Inc., OpenPhone Technologies Inc., CallTower Inc.

Which are the Top Profitable Regional Markets for the Voice Over Internet Protocol (VoIP) Services Industry?
North America was the largest region in the voice over internet protocol (VoIP) services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the voice over internet protocol (VoIP) services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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