VoIP Study Says Hybrid Cloud Driving Growth
Global VoIP services are poised for further growth through 2024, according to a new study by an outfit called Persistence Market Research.
“Increasing hybrid cloud communications in small and large enterprises, couple[d] with VoIP's low maintenance cost with higher flexibility and minimum staff support, are factors anticipated to drive the growth of the global VoIP services market over the forecast period,” according to Persistence Market Research.
Indeed. As I wrote in the second quarter issue of INTERNET TELEPHONY magazine, more companies are migrating from premises-based to cloud-based business communications solutions – or at least to UC solutions that leverage a combination of the two (what we call hybrid solutions). The cloud, of course, allows customers to pay as they go and focus on their core competencies as opposed to managing voice and unified communications gear.
Global Market Insights says the overall UC market is poised to reach $96 billion by 2023. And it notes the expected proliferation of hosted products in this category. Meanwhile, a 2015 BroadSoft survey indicates UC’s cloud market share will increase six fold by 2020, when it’s expected to reach 41 percent. The company adds that cloud-based UC should grow by more than seven times in the mid-market arena. And more than 70 percent of respondents to a recent survey conducted by IntelliCom and TMC indicated they are now actively using public cloud-based UC services to some degree. Meanwhile, 26 percent said they are using them broadly across their organization.
Persistence Market Research in its report teaser said that the managed IP PBX service segment accounted for 27 percent of overall VoIP service revenue in 2015. That, it said, was followed by hosted business IP PBX.
And it added that it expects the computer-to-phone segment to expand at the highest compound annual growth rate – 11.7 percent –during the forecast period.
“In terms of market share, [the] computer-to-computer segment accounted for 43.8 percent revenue share of the overall market in 2015 and is expected to dominate the overall market during the forecast years,” the research firm said, adding that the computer-to-computer segment accounts for almost half of the total revenue in the configuration category at this time.
The Persistence Market Research report looks at both domestic and international VoIP calling considerations, trends, and forecasts. It addresses both consumer and business (both small and medium, and enterprise-level) VoIP.
The study covers an array of VoIP services including hosted business IP PBX service, managed IP PBX, and SIP trunking. It provides information on such configurations as computer to computer, computer to phone, and phone to phone. And it offers targeted geographical VoIP information about the APAC region, Europe, Latin America, MEA, and North America.
Edited by Alicia Young