The
global VoIP services market was valued at USD 70.90 billion in 2013
and is expected to reach USD 136.76 billion by 2020, growing at a
CAGR of 9.7% from 2014 to 2020. Europe was the largest revenue
contributor to the global VoIP services market in 2013. The Asia
Pacific region is expected to be the fastest growing market for VoIP
services during the forecast period. The CAGR for revenue generated
in this region is expected to be 13.6% from 2014 to 2020, with
equivalent growth of subscriber base for VoIP services in the region
expected at a CAGR of 14.6% during the same period. The fast
increasing adoption of smart portable devices such as tablets and
smart phones in the corporate and residential sectors across the
globe is the major factor driving the VoIP services market growth.
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The
VoIP services are cheaper and affordable for both the corporate and
individual consumers. Additionally, these services enable the
corporate consumers in saving the operational cost incurred on
availing the traditional telephony communication services. As a
result, several corporate consumers are encouraged to use VoIP
services for communication. The corporate consumers segment is
further classified on the basis of the type of services offered to
these consumers. In 2013, the major contribution in terms of revenue
was from the hosted business services offered by the VoIP service
providers. This segmented contributed 35.8% of the total revenue
generated from the corporate consumers segment. However, in terms of
subscriber base the market was led by the managed IP PBX (private
branch exchange) services offered to corporate consumers. However, in
spite of promising growth signs, the VoIP service providers face
challenges due to the lack of infrastructure and limitations of
bandwidth allocation in emerging countries, which are crucial for
long term growth.
These
VoIP services can be provided through different configurations such
as computer-to-phone VoIP services, phone-to-phone VoIP services, and
computer-to-computer VoIP services. The computer-to-phone VoIP
services segment was the largest and accounted for 37.9% of the total
subscriber base in 2013. However, the phone-to-phone (Mobile VoIP)
configuration is expected to witness healthy revenue growth during
the forecast period, recording a CAGR of 14.7% from 2014 - 2020.
Moreover, due to increasing smart phone penetration and demand for
mobility among the corporate and individual consumers, the market for
computer-to-computer VoIP services is expected to show minimum
growth, wherein computers (desktops) are gradually being replaced by
smart phones and other portable devices.
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On
the basis of call type, the VoIP services market is segmented into
two major categories, namely, international long distance VoIP calls
and domestic VoIP calls. In 2013, the international long distance
VoIP services segment dominated the market in terms of both, revenue
generated and number of subscribers. It is expected to remain
dominant throughout the forecast period, with expected rise in
revenue market share to 62.3% in 2020. The segment accounted for
54.9% of the total subscriber base for VoIP services in 2013.
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Geographically,
Europe led the global VoIP services market in 2013, in terms of
revenue share and subscriber base, followed by Asia Pacific. However,
by end of the forecast period, Asia Pacific is expected to emerge as
the leading market, accounting for highest revenue and subscriber
base. In 2020, the market size of Asia Pacific is expected to
contribute 41.1% and 40.2% in terms of subscribers and revenue
respectively. This growth of Asia Pacific is fuelled by increasing
awareness about advantages of VoIP services and rising level of
quality infrastructure development in the region. This is even
attracting global players to further expand their operations in the
region offering a competitive product mix. The global market for VoIP
services is dominated by major players such as Microsoft Corporation
(Skype), Viber Media S.r.l., Ring Central, AT&T, Inc., Sprint
Corporation, Avaya, Inc., Vonage Holdings Corporation and 8×8, Inc.
among others. The competitive rivalry among these players was intense
in 2013 and is expected to remain so throughout the forecast period.
The
report studies the global VoIP services market, and provides market
size estimates in terms of revenue (USD Billion) and subscriber
(Million) from 2012 to 2020. Market estimates are provided on the
basis of configuration, call-type, end-use and geography. The market
has been segmented as follows:
VoIP
Services Market, by Configuration
- Computer-to-Computer
- Computer-to-Phone
- Phone-to-Phone
VoIP
Services Market, by Call Type
- International Long Distance VoIP Calls
- Domestic VoIP Calls
VoIP
Services Market, by End-use
Corporate
Consumers
- IP Connectivity
- Managed IP PBX
- Hosted Business
Individual
Consumers
VoIP
Services Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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