VoIP Services Market to Expand at 9.7% CAGR till 2020 Thanks to Increasing Adoption in Residential and Corporate Sectors : Transparency Market Research

Albany - NY, Oct. 21, 2015 (GLOBE NEWSWIRE) -- The report "VoIP Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" from Transparency Market Research (TMR) offers a 360-degree view of the global VoIP services market. This TMR report states that the global VoIP services market will expand at a 9.7% CAGR during the forecast period of 2014 to 2020. In 2013, the market was recorded at US$70.90 billion and is projected to be worth US$136.76 billion by 2020. The subscriber base of the global VoIP services market is expected to reach 348.5 million.The rapidly growing adoption of smart portable devices such as smartphones and tablets in the residential and corporate sectors is driving the global VoIP services market. Other influential trends shaping the global VoIP services market include: VoIP over cloud, growth of mobile VoIP, migration from fixed line voice to IP-based wireless VoIP service, and free group video calling. Furthermore, players in the global VoIP services market will benefit from the emergence of mobile VoIP services with technological advancement of wireless networks.

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On the basis of configuration, the global VoIP services market is divided into computer-to-computer, phone-to-phone, and computer-to-phone. The computer-to-phone segment held the largest market share in 2013 and boasted a subscriber base share of 37.9%. Nevertheless, it is the phone-to-phone or mobile VoIP sector that is projected to experience a healthy CAGR of 14.7% during the forecast period.On the basis of call type, the global VoIP services market is segmented into domestic and international long distance VoIP calls. The segment of international long distance VoIP calls ruled the market in 2013, in terms of both revenue and number of subscribers. This segment is projected to hold a market revenue share of 62.3% in 2020. In 2013, this segment boasted a subscriber base share of 54.9%.

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On the basis of end use, the global VoIP services market is classified into corporate consumers (hosted business, managed IP PBX, and IP connectivity) and individual consumers. In 2013, the largest contribution in terms of revenue came from the hosted business services delivered by VoIP service providers. This sector held a 35.8% revenue share in the corporate consumers sector.On the basis of geography, the global VoIP services market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). In 2013, Europe led the global VoIP services market, followed by Asia Pacific. However, it is Asia Pacific that is expected to be the leading sector in the global VoIP services market by 2020, due to its rising subscriber base in the global VoIP services market. Asia Pacific is projected to grow at a 13.6% CAGR and 14.6% CAGR in terms of revenue and subscriber base for VoIP services, respectively, during the forecast period.There exists intense rivalry between companies in the global VoIP services market and the report forecasts that it will continue to be so in the near future. The dominating companies in this market are Microsoft Corporation (Skype, Ring Central, Viber Media S.r.I., Sprint Corporation, AT&T, Vonage Holdings Corporation, Avaya, and 8×8 Inc.

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The global VoIP services market is segmented as follows:

VoIP Services Market, by Configuration

  • Computer-to-Computer
  • Computer-to-Phone
  • Phone-to-Phone

VoIP Services Market, by Call Type

International Long Distance VoIP Calls

Domestic VoIP Calls

VoIP Services Market, by End-use

  • Corporate Consumers
  • IP Connectivity
  • Managed IP PBX
  • Hosted Business
  • Individual Consumers

VoIP Services Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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Source:Transparency Market Research