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VoIP Market Continuing to Grow

May 25, 2017

Last week, the Eastern Management Group released a report detailing its projections for the future of SIP and VoIP phone solutions from now until 2020. It surveyed 3,500 IT professionals from around the world, and used analysis of their responses to formulate its projections. According to the article, the market for SIP and VoIP phone solutions should continue to show a significant rate of growth over the next three years, especially when compared to other areas of IT. More and more businesses are gravitating to this still fairly young piece of technology.

Currently, the areas with the largest projected amounts of growth are the Middle East, Africa, and Asian Pacific Islands, while the United States and Europe are also still growing but at a less rapid rate. This makes sense, as those areas with lesser developed business infrastructure will be integrating this technology at a faster rate. Across all areas, however, the SIP and VoIP markets are expected to grow at a significantly higher rate than all other aspects of the IT world.

Part of the reason that these markets are expanding so quickly is due to the falling costs of implementing these types of systems. SIP system cost is dropping at a rate of between 5 and 7 percent every year. This reduces the barrier of entry to installing one of these systems, meaning that more small businesses with less capital can still turn to VoIP systems.

In addition, many businesses are being attracted to these types of systems because of all the benefits and flexibility they bring with them. VoIP systems can be easily changed, scaled, or reconfigured without having to deal with adding new phone lines or connections because the system is hosted through the Internet. This also makes it easier for calls to be connected to form conferences, and for communication through various forms of media to be coordinated. The combination of reduced costs and greater functionality is what is driving the growth of the SIP and VoIP market.

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