VoIP Services Market Has Good News Ahead
There's some great news ahead for those who deal in voice over Internet protocol (VoIP) services, as well as those who offer IP phones, if a new report from Future Market Insights holds true. The word from that study is that there are some impressive gains afoot in the VoIP services market, and with those gains comes a great opportunity for those who offer VoIP phones as well.
Back in 2012, the corporate consumer segment of VoIP services represented 98.9 billion subscribers, with a total revenue of around $43.27 billion. That sounds like a market most anyone would want in on, but it gets better; the Future Market Insights report projects that that number will rise to 204.8 billion by 2020, and that number will represent about $86.20 billion in revenue.
With both numbers poised to roughly double, it's clear there's a lot of opportunity afoot. However, the study reveals better news yet. The computer-to-computer segment is expected to gain ground as well, though much more slowly; in 2012, it accounted for $20.74 billion in revenue, and by 2019, that number will reach $24.74 billion.
The phone-to-phone segment is where serious growth is found; in 2012, it accounted for $15.88 billion in revenue, and by 2019, it will reach $44.78 billion, nearly triple its 2012 figures. Computer to phone will do less well, though quite solid in its own right, posting gains from $27.35 billion to $56.56 billion by 2019.
Those who want a shot at these gains may have a better-than-average chance with a few small points kept in mind; the residential consumer market is as yet a weak one for VoIP service as most aren't accepting such a system. There are several reasons for this, starting with poor-quality Internet service availability and the preference for a land line for power outages, along with the increasing use of smartphone systems. Though given an increasingly mobile workforce, this may not be such a problem for much longer, and those who market VoIP systems for residential operations could be looking at a major payday.
Moreover, for device makers, the opportunities to move IP phones are substantial. With an increased demand for services, there will likely be increased demand for the hardware to use these services on more readily. While in many cases, VoIP systems can be used from a desktop PC, having that simple handset phone on hand will likely be a comfort to current land-line users migrating to VoIP.
A conceptual bridge between the familiar and the new can be a welcome point, and hardware makers who market accordingly may gain ground here. Either way, there's opportunity afoot, and astute device makers should be ready for that.
Edited by Alicia Young