IP Telephony Market Top Impacting Factors That Could Escalate Rapid Growth During 2023-2031

The global IP telephony market value was US$ 2422.6 million in 2021. The global IP telephony market value is forecast to reach US$ 7693.5 million by 2030, growing at a compound annual growth rate (CAGR) of 13.7% during the forecast period from 2022 to 2030.

IP telephony refers to any telecommunications method that uses the internet, including fax and other methods. The phone transfers data to the service provider using a wide variety of open-source protocols. Moreover, IP telephony solutions are becoming more popular among business corporations because of their portability and affordability. Additionally, ease of use improved technology, and increased productivity drives IP telephony adoption.

Factors Influencing Market Growth

IP telephony provides a cost-effective alternative to business telephones and improves communication by enabling businesses to communicate effectively. Due to these factors, the global IP telephony market is likely to grow.

The poor voice quality of IP telephony systems may slow down the global market's growth.Download free sample of this report :-https://www.quadintel.com/request-sample/ip-telephony-market-1/QI040

The IoT will be able to collect and transmit data at an increasing level using IP telephony systems, which are advancing & developing extremely fast. Combining IP telephony systems with IoT can transform existing organizational functions. Due to these factors, the market is forecast to offer lucrative opportunities in the next few years.

With IP telephone systems, legacy hardware & systems, such as fax machines, alarms, and credit card readers, can easily be integrated. Furthermore, legacy systems can also integrate with IP telephones since they connect to corporate applications. Therefore, the ease of integrating IP telephony systems is fueling the global market growth.

Impact Analysis of COVID-19

The demand for mobile IP telephone apps has increased during the COVID-19 pandemic in order to communicate with remote team members.

IP telephony enables employees to work from anywhere, at any time using, remote access, enhancing their quality of work and productivity. Moreover, IP telephony's enhanced flexibility can provide employees with lifestyle benefits. The popularity of mobile IP telephony apps increased across a range of industry verticals. Thus, the COVID-19 pandemic has resulted in a positive impact on the global IP telephony market.

Regional Insights

Asia-Pacific dominated the IP telephony market in 2021 and is forecast to continue this trend throughout the forecast period. Due to businesses, especially those in the more established markets investing in IP telephony solutions and upgrades that can be embedded or integrated with UC (unified communication) applications.

As part of their efforts to facilitate migration to the next-generation network, vendors are also adopting open standards and offering backward compatibility with legacy equipment. As a result, these are the major factors driving the IP telephony market in the Asia Pacific.

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Leading Competitors

The leading prominent companies profiled in the global IP telephony market are:

Dialpad, Incorporated
Freshworks Incorporated
Intermedia.net, Incorporated
Microsoft Corporation
Mitel Networks Corporation
Ooma, Incorporated
RingCentral MVP
Vonage
Ziff Davis, Incorporated
8×8, Incorporated
Other Prominent Players

Scope of the Report

The global IP telephony market segmentation focuses on Offering, Type, Call Type, Installation Type, Enterprise Size, End-User, and Region.

Segmentation based on Offering

Solutions
Hardware
Software
Services
Consulting/ Implementation
Maintenance

Segmentation based on Type

Integrated Access/Session Initiation Protocol (SIP) Trunking
Managed IP PBX
Hosted IP PBX

Segmentation based on Call Type

International Calls
Domestic Calls

Segmentation based on Installation Type

Wired
Wireless

Segmentation based on Enterprise Size

Large Enterprise
Small & Medium Enterprises

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Segmentation based on End-User

Corporate
Government
Residential

Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

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