Voice Over Internet Protocol (VoIP) Market Growth, Share,
Trend Forecast 2023 – 2032

VoIP (Voice Over Internet Protocol) Market is set to garner
significant gains through 2032, primarily because of the cost benefits of
circuit-switched networks. Besides, the increased adoption of VoIPs across SMEs
and the growing popularity of hosted VoIP solutions will also positively
influence the industry landscape between 2023 and 2032.

The key organizations operating in the market are trying to
enter into valuable acquisitions and mergers and focusing on expanding their
product range to strengthen their presence in the market. To cite an instance,
in 2022, Deutsche Telekom partnered with Aircall to provide all German-speaking
customers access to Aircall's innovative cloud-based VoIP solutions.

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Overall, the VoIP market has been classified in terms of
service, access, call, medium, end-use, application, and region.

With respect to service, the hosted IP PBX segment is
anticipated to grow significantly between 2023 and 2032, owing to the
capability of IP PBX platforms to deliver a comprehensive set of features such
as call queuing, messaging, and front office functions.

In the context of access, the phone-to-phone segment held
more than 20% market share in 2022 and is primed to amass sizeable revenues by
2032. The expansion of this segment can be credited to the launch of 5G, which
has increased the functionality of the mobile-based VoIP and phone-to-phone
support system. Besides, the demand for IP phones will also increase to
facilitate seamless communication and collaboration at workplaces and to meet
the growing workforce mobility requirements.

Based on the medium, the fixed segment size is slated to
grow at a decent growth rate between 2023 and 2032. Those enterprises that
prefer having contacts tied together along with correct numbers and addresses
are increasingly adopting fixed VoIPs. This tendency would potentially drive
segment growth through 2032.

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Regarding the end-user, the SMBs segment held over 35%
market share in 2022. This segment will grow, owing to the increasing adoption
of VoIP among SMEs, as these services offer a low-cost alternative to more
expensive and traditional services.

Based on application, the market is likely to be defined by
the IT & telecom segment, which was valued at more than USD 10 billion in
2022. This segment will grow owing to the increase in globalization, resulting
in an increased need to utilize collaboration coupled with unified messaging
and communication techniques and tools to establish secure and reliable means
of communication.

In the regional context, the North America VoIP market is
expected to grow substantially through 2032. The ongoing expansion of the
remote workforce, broad acceptance of cloud services, and accelerating
migration toward packet-based networks are set to drive lucrative gains to the
regional industry.

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