The IP telephony market size is projected to reach US$ 85.16 billion by 2031 from US$ 29.65 billion in 2023. The IP telephony market is expected to register a CAGR of 14.1% during 2023–2031. Voice over IP (VoIP) is a service and application that falls under the umbrella of IP telephony. It is the transmission of voice communication over IP networks.
IP Telephony Market Analysis
Internet protocol (IP) telephony offers a variety of services, such as voice calling, video calling, voicemail, faxing, instant messaging (1M), and video conferencing. IP telephony, unlike VolP, often offers more than just voice functions. IP telephony benefits organizations of all sizes by providing a combined network for phone and internet features. IP telephony offers lower costs, simpler infrastructure, scalability, and mobility, making it appealing to end users.
IP Telephony Market Overview
IP telephony refers to any system that falls within internet-based telecommunications, including fax and other technologies. It uses a variety of open-source protocols to send data from the phone to the service provider. Businesses are rapidly implementing IP telephony solutions because of their portability and cost-effectiveness. Furthermore, IP telephony systems are easy to use, offer advanced technologies, and boost productivity. These factors are driving the adoption of IP telephony systems. IP telephony adds a new feature to business phones and improves communication by giving a cost-effective solution, which is considered a key driver for the worldwide IP telephony market. Existing legacy systems and hardware, such as fax machines, credit card readers, and alarms, can be easily linked with IP telephone systems.
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IP Telephony Market: Strategic Insights
Market Size Value in US$ 25.26 Billion in 2017 Market Size Value by US$ 63.47 Billion by 2027 Growth rate CAGR of 10.1% from 2018-2027 Forecast Period 2018-2027 Base Year 2018
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IP Telephony Market: Strategic Insights
| Market Size Value in | US$ 25.26 Billion in 2017 |
| Market Size Value by | US$ 63.47 Billion by 2027 |
| Growth rate | CAGR of 10.1% from 2018-2027 |
| Forecast Period | 2018-2027 |
| Base Year | 2018 |
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IP Telephony Market Drivers and Opportunities
Increase in Cyberattacks to Favor Market
Rapid technological advancements have resulted in an increase in vulnerabilities in recent years. Businesses increasingly rely on IP telephony products and services as cyberattacks become more common. IBM estimates that the total cost of data breaches in enterprises will be approximately US$ 6 trillion in 2021 alone. The numbers are expected to rise during the anticipated timeframe. Hence, businesses are deploying IP telephony solutions to protect data and prevent breaches, which is expected to boost the IP telephony market CAGR throughout the forecast period.
Rise in Remote Work Culture
Increasing use of mobile devices and rising adoption of remote work culture are driving the demand for adaptive and quickly available IP telephony solutions. Employees are increasingly using smartphone apps to make and receive calls from anywhere. Furthermore, remote collaboration requires communication with video conferencing software. IP telephony providers are focusing on developing solutions that address these evolving needs.
IP Telephony Market Report Segmentation Analysis
Key segments that contributed to the derivation of the IP telephony market analysis are component, hardware, service, installation type, enterprise type, and end users.
- Based on component, the IP telephony market is divided into hardware, software, and services.
- By hardware, the market is segmented into IP desktop phones, DECT phones, and IP conference phones.
- Based on service, the IP telephony market is divided into installation & maintenance and professional services.
- Based on installation type, the IP telephony market is segmented into wired and wireless.
- Based on enterprise size, the IP telephony market is segmented into SMEs and large enterprises.
- Based on end users, the IP telephony market is segmented into residential, corporate, and governmental organizations.
IP Telephony Market Share Analysis by Geography
The geographic scope of the IP telephony market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. The causes involved stem from global increases in IP telephony application adoption and technological advancement. These applications are often created in certain industry sectors, such as BFSI, healthcare, retail, IT, and telecommunications. Furthermore, the region's growth is expected to be propelled by the widespread use of IP telephony services, cutting-edge telecommunications infrastructure, and the appeal of labor mobility.
IP Telephony Market Report Scope
IP Telephony Market News and Recent Developments
The IP telephony market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the IP telephony market are listed below:
- Broadvoice—a hosted voice, unified communications, and SIP trunking services provider—won the 2022 Internet Telephony Product of the Year award. For the past 23 years, the award has honored and acknowledged VoIP and IP communication products and services.
(Source: Broadvoice, Press Release, March 2022)
- Pure IP offers global voice communications for enterprises. It is now accessible via the Zoom Phone Provider Exchange system. Customers will have greater freedom with this program. It will preserve Pure IP while utilizing its telecommunications network in other places.
(Source: Pure IP, Press Release, April 2023)
IP Telephony Market Report Coverage and Deliverables
The "IP Telephony Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- IP telephony market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- IP telephony market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- IP telephony market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the IP telephony market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Hardware ; Service , Installation Type : Enterprise Size End Users
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The global IP telephony market is expected to reach US$ 85.16 billion by 2031.
The key players holding majority shares in the global IP telephony market are Avaya Inc., Cisco Systems Inc., Gigaset Communications, LG Electronics Inc., and Mitel Networks Corporation.
The combined use of AI and ML is anticipated to play a significant role in the global IP telephony market in the coming years.
The increase in cyberattacks is the major factor propelling the global IP telephony market.
The global IP telephony market was estimated to be US$ 29.65 billion in 2023 The market is expected to register a CAGR of 14.1% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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