Global Market for VoIP Services to be Worth about US$136.76 Billion by the year 2020: Transparency Market Research

Albany, NY, Nov. 6, 2014 (GLOBE NEWSWIRE) -- Transparency Market Research, a U.S. - based market intelligence firm states that the global VoIP services market is expected to report revenue worth US$136.76 billion by the year 2020. The report, titled 'VoIP Services Market (Corporate Consumers and Individual Consumers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,' is now available for sale on the company's website.

Browse the full "VoIP Services Market (Corporate Consumers and Individual Consumers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" report with complete TOC:

As per this market research report, the global VoIP services market is primarily driven by factors like better infrastructure for wired and wireless network, and affordable communication services all over the world. VoIP refers to Voice over Internet Protocol which is a technique used for communication. Internet telephony, IP telephony, and voice over broadband are the technologies that are used by VoIP services.

The major components that are required for availing the VoIP services are terminal equipment, VoIP software, and network. Routers, gateways, switches, and others are some of the additional components that make up the network component. The main task of these components is to transmit data and voice content over the IP based network.

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According to this TMR report, the global VoIP services market is segmented on the basis of the type of call, configuration, end-use, and geography. The best part about VoIP services is that VoIP is easy to troubleshoot, install, and use. The main growth contributing factor prevailing in the global VoIP services market is the price performance. Furthermore, the VoIP services provide certain additional features such as phone number portability, rich media, and voice quality. VoIP services are applied extensively in end-use segments such as mobile network providers, corporate, and the consumer market (residential applications).

This market research report has stated that greater demand for mobility encourages individual and corporate consumers to take to portable devices like smart phones and tablets. This, as a result fuels the demand for VoIP services. Therefore, the number of subscribers of computer-to-phone VoIP configuration, and mobile VoIP are also expected to increase due to greater inflow of smart portable devices in the market. It is estimated that between the years 2014 and 2020, the phone-to-phone subscriber base will grow at 16.6% CAGR.

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As per this research report, in terms of subscriber base and revenue, the global VoIP services market is led by Europe. Europe is then followed by the Asia Pacific VoIP services market. It is expected that the Asia Pacific VoIP services market will show highest rate of growth in the forthcoming years. The main factors that are expected to drive the Asia Pacific VoIP market include the establishment of 3G and 4G high speed communication networks, and the development of network infrastructure. The affordable prices of VoIP services for both individual and corporate consumers in the emerging economies of the Middle East, Latin America, and Africa denotes that there is enough scope for significant growth of the VoIP services market in these economies.

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This market research report consists of detailed analysis of some of the prominent industry players operating in the global VoIP services market. The key players included in this report are iNet Telecoms Ltd. (VoIPfone), Viber Media, Inc., Microsoft Corporation (Skype), RingCentral, Inc., InPhonex LLC, Nextiva, Inc., Vonage Holdings Corp., and 8×8, Inc.

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Source:Transparency Market Research