Voice over Internet Protocol (VoIP) is a methodology which uses various technologies to provide communication services over a packet switched network (IP data network). The VoIP services convert the voice signals into digital signals that are carried over the IP based network. The call could be done on a regular telephone, VoIP phone, computer or mobile phone. VoIP services are implemented using various protocols such as H.323, Session Initiation Protocol (SIP), Inter Asterisk eXchange (IAX), Real Time Protocol (RTP), and Media Gateway Control Protocol (MGCP), among others. The major advantage of VoIP service is its price performance. VoIP is capable of providing rich media services and phone number portability. Additionally, VoIP is capable of offering features such as service mobility, integrated applications, user control interface and other rich features. VoIP services are easy to install, use and troubleshoot. The VoIP services finds its application across end-use segments such as residential (consumer market), mobile network providers and corporate.
BYOD trend and demand for mobility is leading to growth of smart devices in the market and hence increasing the growth of VoIP services across the globe. Additionally, technological advancement has enabled the network operators to enhance their infrastructure and use of VoIP on these networks has increased over the past few years. Further, business consumers are adopting the cloud based hosted business solutions which are cost effective and offer high quality of service. Moreover, the companies such as Verizon and AT&T are diversifying their offering by getting into the market with their products such as AT&T call vantage.
The network advancement in emerging economies such as India, Brazil, Indonesia, China, and Philippines among others offers tremendous opportunities for the VoIP service provider to widen their subscriber base. However the lack of awareness among the residential consumer segment and lack of promotional activities by VoIP service providers is posing challenge for the growth of the market.
The VoIP services market is segmented on the basis of configuration, call types and end-use. The configuration segment is further classified as computer to computer, computer to phone and phone to phone. Currently the market is dominated by computer to phone configurations, however, with the rising demand for mobility among the corporate and residential consumers, it is expected that the market for phone to phone VoIP or mobile VoIP (mVoIP) will raise the revenue for VoIP service providers. The end- use segment is broadly classified as residential consumers and corporate consumers. These consumers can avail VoIP services either on a fixed leased line of on wireless networks provided by telecommunication operators. The consumers can make international long distance call as well as domestic calls using VoIP services.
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Geographically, VoIP services market is segmented under four major regions, namely, North America, Europe, Asia-Pacific and Rest of the World. Currently, the market is dominated by Europe followed by Asia-Pacific. However, with the rising number of emerging economies in Asia-Pacific region it is expected over the coming years the market will be dominated by Asia-Pacific countries such as India, China, Indonesia and South Korea among others. The leading companies in the market are 8×8, Inc., Viber Media, Inc., Nextiva, Inc. Vonage Holdings Corp., Microsoft Corporation (Skype), iNet Telecoms Ltd., RingCentral, Inc. and InPhonex, Inc. among others. Currently, the major market share in terms of subscriber is held by Skype. The market is highly competitive and companies have to suffer high price wars to sustain into the market. The companies offer several bundled services such as free text messages, photo messages and others to attract the customers to their services.
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Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
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Key features of this report
- Drivers, restraints, and challenges shaping the VoIP Services market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- VoIP Services market estimates and forecasts(2015 -2021)
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