The latest report from Transparency Market Research indicates that the global VoIP services market has the potential to experience a compound annual growth rate (CAGR) of 9.7 percent between 2014 and 2020. Researchers note that increased adoption of smartphones and tablets will drive this projected growth.
The Transparency report, “VoIP Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” shows that revenue in the market reached $70.9 billion in 2013. That number is expected to reach $136.76 billion by 2020 if the CAGR quoted above holds true.
A split between the types of VoIP users exists in the overall market. Transparency lists two basic categories of users – individual and corporate – and splits the corporate section into hosted business, managed IP PBX, and IP connectivity. Of those latter three, the report shows, hosted business services take the lion’s share of VoIP connectivity at 35.8 percent.
It appears that the hosted business services sector will continue to grow until at least 2020, and it will reportedly show the most growth in the Asia Pacific region. In 2013, Europe led the other Transparency-defined world segments of Asia Pacific, North America, and Rest of the World, but by the end of the decade, Asia Pacific’s higher subscriber base should outpace all other regions.
The battling between nations in the arena mirrors the battling between corporations that will provide services and VoIP software. AT&T, Avaya, Microsoft, Sprint, and Vonage are among the big names that are expected to continue to make waves in the field. The report insists that this “intense rivalry” will continue throughout the decade.
The report also lists three types of calling segments in which users will engage: computer-to-computer, phone-to-phone, and computer-to-phone. Although the computer-to-phone segment showed the highest use in 2013, at a 37.9 percent subscriber base, the phone-to-phone segment is expected to rise at a CAGR of 14.7 percent during the six-year period. This represents a growing set of mobile calling where both enterprises and consumers will reach their constituents across VoIP channels.