State of VoIP market outlined in new report

State of VoIP market outlined in new report

The rise of voice over internet protocol (VoIP) has offered many companies a variety of great benefits when compared to regular telephony systems.

Cheaper rates combined with great features such as an auto attendant, which allows callers to interact with a menu in order to choose the appropriate extension for whomever they wish to speak to, means that that smaller businesses in particular stand to save money and appear bigger in size.

At a time when competition between firms across various sectors has fever pitch, such an approach stands to offer a significant advantage.

And those positives have not gone unnoticed by the business world, with the market now in the best shape possible, with a recent report predicting further growth over the course of the next five years.

The study, conducted by Visiongain, claims that the market's potential further levels of growth are set to be driven by the widespread adoption of integrated social media based VoIP solutions, as well as the continuing rise of leading services such as Skype.  

The research consulted widely with industry experts from such market leaders, who gave their insights into what drivers could potentially cause growth, as well as restraints, competitive developments and technological issues.

It claims that VoIP revenues could reach as much as $75.8 billion (£46.35 billion) in 2013.

It also argues that the deployment of LTE and 4G networks is also set to transform the quality of such services, while bringing it into the mainstream for mobile telecommunication services, which will in turn create a paradigm shift in subscriber behaviour.

The findings of the study have been echoed in a recent blog post by Charlie Reed for Billing World.

Mr Reed stated: "Enterprises are shifting toward VoIP to take advantage of cost savings via IP trunking. All together, business VoIP will increase its share of the business voice market from 17 percent this year to more than 40 percent by 2018."