VoIP market set for rapid growth

VoIP market set for rapid growth

The popularity of voice over internet protocol (VoIP) has been growing in recent years, but new research has indicated it is set for a rapid boom in the coming years.

Analysts at TechNavio have revealed statistics for the future of the technology in their Global Carrier VoIP Market 2011-2015 report.

They predict that the market is to grow at a compound annual growth rate of 16.6 per cent over the next four years.

One of the key factors contributing to this market growth is the high demand of VoIP services.

Last month, TechNavio released a report that predicted the mobile VoIP sector in EMEA will enjoy a boom between this year and 2014, when it will be worth £3.4 billion.

The new study comes hot on the heels of an Ipsos report that found 14 per cent of the world's population are currently using VoIP services, with Russia the nation with the highest proportion of users.