Growth in VoIP Services Market

The benefits of VoIP are clear; instead of paying outrageous monthly charges for a landline service, users can save money by switching to VoIP while enjoying new additional features. Over the past few years, the market for VoIP has grown significantly because of its accessibility and cost-savings approach. The growth of the VoIP market is important because it solidifies both past and future purchases of VoIP phones and services; a growing market means that people have had positive experiences with the technology and decided to stay, and new customers entered the market because of the benefits and positive reviews of the service.

recent report by Infonetics Research quantifies the growth of the market. According to the report, the global VoIP services market, including residential and business VoIP services, grew to $63 billion in 2012, up 9% from 2011. In addition, hosted VoIP and UC services revenue grew 17% in 2012 from 2011. Infonetics Research attributes the large growth in these markets to the continued demand for enterprise cloud-based services, and they predict that the combined business and residential VoIP services market will grow to $82.7 billion in 2017.

On the growth in the VoIP services market, Diane Myers, a principal analyst for Infonetics Research, said:

The market for VoIP services has moved well beyond the early adopter stage to mainstream status in many developed countries. New geographic regions are opening up, and SIP trunking and hosted US continue to heat things up, fueling growth.

Myers and the other analysts at Infonetics Research think the VoIP services market will grow over the next few years as cloud-based services continue to develop and grow. There are a variety of VoIP services to choose from, depending on your specific needs and monthly budget. Before choosing a service provider, compare their benefits and costs in order to make a properly informed choice.

Because the growth of the VoIP services market signals that customers are generally happy with the service and have spread the word to their friends, VoIP might be the cost-saving service that you’ve been looking for. Telonium offers a competitively-priced monthly VoIP service as well as a variety of IP phones. While some of the phones are packed with features, others are quality phones made by Cisco and just $100, representing a cheap entrance in the the VoIP market.

If you’re interested in learning more about VoIP services or purchasing an IP phone, contact us. We can provide you with more information and help pick the right IP phone and service for you.