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VoIP Services Market

·3 min read

Report Scope: This report provides an overview of the global market for VoIP services and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period 2021 through 2026.

New York, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "VoIP Services Market" - https://www.reportlinker.com/p06176564/?utm_source=GNW


Revenue forecasts for this period are segmented based on call type, access type, service type, end-use, medium, end-user industry and region.

The report also focuses on the major driving trends and challenges that affect the market and the competitive landscape.It explains the current trends in the VoIP services market, and it concludes with detailed profiles of the major players and strategies adopted by the players to enhance their market presence.

All throughout, the report estimates the global market size for VoIP services in 2020 and provides projections of the expected market size through 2026.

Report Includes:
- 90 data tables and 57 additional tables
- An overview of the global market for Voice over Internet Protocol (VoIP) services within the industry ecosystem
- Analyses of the global market trends, with data from 2020, estimates for 2021, 2022 and 2024, and projections of compound annual growth rates (CAGRs) through 2026
- Estimation of the market size and market forecast for VoIP services industry, and corresponding market share analysis by call type, access type, service type, medium, region, end-use, and end-user industry
- Highlights of the industry value chain analysis, opportunity assessment, technology updates, and impact of COVID-19 on the progress of this market
- Understanding of the upcoming market opportunities and areas of focus to forecast the market into various segments
- Emphasis on major driving trends and challenges affecting the VoIP services market and its sub-segments
- Identification of the companies that are best positioned to meet this demand because of their proprietary technologies, strategic alliances, or other advantages
- Insight into the recent industry strategies, M&A deals of the major players operating within the global market; their key competitive landscape and company share analysis
- Descriptive company profiles of the major market players, including Cisco Systems, Verizon Communications Inc., Microsoft Corp., Zoom Video Communications Inc., Ooma Inc. and RingCentral Inc.

Summary:
Voice over Internet Protocol (VoIP) is the digital form of voice communications done using internet networks, and it has replaced analog phone systems.Generally, VoIP uses internet protocols (IPs) to connect Private Branch Exchanges (PBXs), and it is capable of interchanging rich voice, video, and data exchange services.

VoIP uses packet-switched networks to make communication and is seen as the replacement of old Public Switched Telephone Network (PSTN) telephony. VoIP is no longer limited only to voice services and now various multimedia protocols to provide video services too.

Despite the havoc and devastation, it caused in other sectors of the global economy, the COVID-19 pandemic has boosted the market for VoIP services, especially in industries such as IT and telecom, BFSI and retail.As a result of pandemic-related lockdowns and restrictions, most companies enabled their employees to work from home, and education institutes also started offering online classes to curb the spread of the virus.

In addition, most of the countries are presently testing the 5G, which will further enhance the connectivity across the industries. Moreover, as the pandemic subsides, a number of companies in the VoIP industry are expected to move their services over to the cloud, and this shift is
expected to drive the rapid adoption of cloud-based VoIP services. It is expected that the adoption of VoIP services will continue even after the pandemic ends. As VoIP had served as a cost-efficient alternative to traditional phone systems, it has played an important role in streamlining business calls and internal communications between co-workers during the pandemic. Thus, it is expected that businesses will continue to use VoIP services in future.
Read the full report: https://www.reportlinker.com/p06176564/?utm_source=GNW

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