WASHINGTON, D.C. – April 30, 2018 – Researchers report that the VoIP market is headed straight up with a predicted value of $204.8 billion and 348.5 million users by the year 2020.
According to a recent report, the VoIP market is expected to skyrocket to a value of $136.76 billion by the year 2020. 1 A separate report revealed the potential for even greater market value with numbers topping out at $204.8 billion. 2 This predicted growth takes the subscriber-based service a long way since the $70.90 billion market value in 2013. 1 “As more businesses recognize the benefits of VoIP services, the industry is seeing a tremendous spike in growth,” explains Amr Ibrahim, the CEO of ULTATEL and business veteran, “Most thriving large-scale companies and even entrepreneurs now see that cloud-based phone services are necessary to success and they offer much more than other systems.”
VoIP services truly are the wave of the future with the number of subscribers constantly on the upward swing. Within the next two years, the number of VoIP subscribers is predicted to top out at 348.5 million. 1 Users who employ computer-to-computer VoIP services are expected to be among those that see large-scale growth in the near-future. Researchers reported that while 2012 found only 57.4 million computer-to-computer VoIP users, this number is supposed to grow to 72.2 million users within the next year, shooting the market up from $20.74 to $24.74 billion. 2
As VoIP companies gain in popularity and experience, they also have more to offer businesses with their continuous technological advancements. While more traditional phone services are limited in their capabilities, users are finding that cloud-based VoIP subscriptions can meet all of their needs. 3
Bring Your Own Device capabilities puts cloud-based VoIP services in high demand. 1 With cloud-based services, individuals have the option to access their business line using any number, anywhere, at any time. BYOD is not only easier for employees, but also cuts down on the need for expensive telecom equipment for the company. The flexibility of these cloud-based telephone services makes them a big hit with not only large-scale corporations, but also small businesses and entrepreneurs who are just getting started. 1
Cost efficiency is also forefront in the VoIP service market growth. 1 Cloud-based VoIP services help companies to eliminate the need of an IT staff, thus providing them with the option of a more flexible budget. Packaged services also make it possible for businesses to pick and choose the services that they need to meet their specific goals and help their brand move forward.
Amr Ibrahim goes on to explain that small businesses account for a significant part of VoIP’s market growth. “Small business owners and entrepreneurs are recognizing that cloud-based phone services are just what they need to push their company toward greater things. ULTATEL helps many individuals set up a small business phone line, so we see first-hand how it empowers them to succeed.”
ULTATEL is a leader in the VoIP industry that focuses on helping both large-scale and small businesses with state-of-the-art technology and VoIP phone services. ULTATEL proudly provides affordable services that help business owners balance life and work while increasing job productivity, raising the level of responsiveness, and enhancing their globalization efficiencies.
ULTATEL is a leading provider of cloud-based phone system solutions. Through its unified communications platform, companies can have all of their voice, video, fax, SMS and audio conferencing services on one affordable system. ULTATEL Business Clarity, with more than 40 enterprise grade features, helps companies operate from a single location or multiple locations seamlessly using desktop phones, soft phones or mobile apps. ULTATEL’s Contact Center solution satisfies the need for call center features such as advanced interactive voice response (IVR), call queuing, skilled/time-based routing and advanced call analytics. ULTATEL’s vision is to completely change how companies conduct business by delivering the most comprehensive suite of unified cloud-based telephony services that dramatically improve responsiveness, increase productivity, enhance globalization efficiencies, and reduce operating costs so that businesses can most effectively compete both today and in the future. Visit https://www.ULTATEL.com/.Sources
- Nitin. “VoIP Services Industry: The Future of Global Telecommunications.” Facts Week, factsweek.com/463069/VoIP-services-industry-the-future-of-global-telecommunications/.
- “VoIP Market to Increase to $204.8 Billion by 2020.” Arrow Communications, www.arrowcommunications.co.uk/newsroom/voice-data/VoIP-market-to-increase-to-204-8-billion-by-2020/.
- “Learn How Much It Costs to Install a Telephone System.” 2018 Business Phone System Prices | PBX, VoIP Comparison, www.homeadvisor.com/cost/home-offices/install-a-telephone-system/.