IP Telephony Market Size, Share, Top Leaders, Industry Growth, Segmentation, Emerging Trends, Latest Innovations, Future Plans and Forecast 2023

Market Research Future published a research report on “IP Telephony Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Scenario:

Internet protocol (IP) telephony is an umbrella term for an array of technologies used in exchanging information over voice, fax, and other mediums. It can deliver voice and other multimedia formats for communication purposes. The leaps in internet based technology and improvement in quality and dip in prices has led to its investments in major corporations and businesses. The global IP telephony market report by Market Research Future (MRFR) has been compiled by using an investigative examination of the economic scenario, demand for internet, and other supporting factors and challenges for the period of 2017 to 2023 (forecast period). The COVID-19 impact on the market has been written in detail in the report.

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Market Scope

The global IP telephony market is expected to grow at a CAGR of 9% during the forecast period. Ease of installation and configuration of internet run devices can drive the market demand. Demand for mobile telephony, dependence of enterprises on the Internet, and expansion of ecommerce sector can drive the market. Deployment of new communication networking technologies and investments in high data speed cables can bode well for the market.

The outbreak of the COVID-19 virus has become a boon for IP telephony service providers owing to the rise of remote work. Relaxation of rules and move to shift call center services, medical transcription services, and other IT enabled services at homes can bode well for the market.

Key Players:

Some of the prominent players in the global IP Telephony Market are Ascom Holding AG (Ticker: ASCN) (Switzerland), Avaya Inc. (U.S.), Cisco Systems, Inc. (Ticker: CSCO) (U.S.), Gigaset Communications (Germany), LG Electronics Inc. (South Korea), Mitel Networks Corporation (Canada), Panasonic Corporation (Japan), Polycom Inc. (U.S.), Yealink Inc. (China), NEC Corporation (Japan), and Grandstream Networks, Inc. (U.S.) among others.

Segments:

The global IP telephony market is segmented on the basis of component, organization size, connectivity, and vertical. The vertical segment is classified into BFSI, healthcare, manufacturing, IT & telecommunication, retail, government and others. However, the IT & telecommunication sub segment is expected to grow at the highest rate during the forecast period. This is owing to the considerable technological shift of large enterprises towards adoption of voice over IP applications

Regional Analysis:

North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The market in North America is witnessing a rapid growth due to technological advancements and rise in demand for IP telephony solutions across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as owing to the increased demand for IP telephony solutions in IT and telecommunication industry as well as growing demand for cost effective solutions for the same.

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Intended Audience

  • Technology Investors
  • Research/Consultancy Firms
  • Government Bodies
  • Consulting Service Providers
  • Technology Providers
  • System Integrators
  • Service Providers
  • Cloud Platform Providers
  • Mobile Application Developers
  • Communication Service Providers (CSPs)

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.