Mobile VoIP Market Adoption: Key Drivers and Market Dynamics

According to a new report published by Allied Market Research, titled, "Mobile VoIP Market," The mobile voip market was valued at $49.23 billion in 2021, and is estimated to reach $327.5 billion by 2031, growing at a CAGR of 21.1% from 2022 to 2031.

Mobile VoIPs are a set of communications protocols that can extend VoIP communications to handheld devices. This is frequently used to facilitate audio conversations over WiFi or LTE networks at a lower cost than traditional telephones and without a wired connection. Moreover, VoIP telephone system utilizes Internet Protocol to make calls. Instead of using telephone lines, all communication data is turned into packets and sent over the IP network.

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Furthermore, increase in penetration of smart devices along with high internet connectivity and a the growing popularity of innovative and user-friendly applications is boosting the growth of the mobile VoIP market. In addition, the increase in advanced consumer electronics is positively impacts the growth of the mobile VoIP market. However, the lack of awareness about mobile VoIP software and increasing security concerns is hampering the mobile VoIP market growth. On the contrary, increasing adoption of cloud-based security application is expected to offer remunerative opportunities for the expansion of the mobile VoIP market forecast period.

Depending on operating system, the android segment holds the largest mobile VoIP market share, owing to rising need for smartphones with improved features such as augmented reality, flexible screens, and holographic displays. However, the iOS segment is expected to grow at the highest rate during the forecast period, owing to increased demand for luxury smartphones.

By model, the premium model contributed to more than two-thirds of the global mobile VoIP market share in 2021, and is projected to rule the roost by 2031. The enterprise model segment would display the fastest CAGR of 23.2% throughout the forecast period owing to rise in adoption of enterprise model by various businesses to improve the productivity through effective routing based on skill set in developed and developing regions fuels the segment growth.

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Region-wise, the mobile VoIP market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to technological advancements and the emergence of new business models. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the increased investment in the deployment of high-speed internet and the wider availability of free applications.

Mobile VoIP industry market has witnessed stable growth during the COVID-19 pandemic as manufacturing processes are provisionally closed across several countries to contain the virus. There is also a shortage of mobile chipsets in the market due to distractions in manufacturing. huge shift to remote working, and VoIP's ability to connect widely dispersed employees under a single phone system helped to enable continuity for businesses.

The VoIP stats found over the last 18 months show how business owners and leaders rapidly turned to hosted PBX features to facilitate meetings, conferences, and collaboration in general. in addition, several manufacturing companies such as Samsung, Xiaomi, OPPO, and LG Display have suspended their manufacturing operations in China, India, South Korea, and European countries.

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As China is a hub for electronics equipment's and companies inclines to manufacture their products in China, the market due to COVID-19 has drastically dropped. For instance, in May 2020, OPPO Company closed down its processes in Noida, India. Additionally, demand for mobile devices has decreased due to lockdowns imposed in several countries.

The key players profiled in the mobile VoIP market analysis are Cisco Systems, Inc, Microsoft Corporation, Citrix System, Inc, Rakuten, Facebook, Inc, Zoom Video Communications, Inc, Ribbon Communications Operating Company, Inc, 8x8, Inc, 3Cx, Mitel Networks Corp, Jive Software. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile VoIP industry.

The report analyzes these key players in the global Mobile VoIP market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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