VoIP Services Market Analysis

The VoIP services market is segmented on the basis of type into integrated access, SIP trunks, hosted IP PBX, managed IP PBX, and others, out of which the SIP trunks segment is anticipated to grab the largest share by the end of 2030 on account of the fact that SIP trunks allow VoIP users to benefit from shared lines and increase their communication flexibility. Moreover, SIP trunks can lead to considerable savings of costs as it reduces the need for hardware and physical phone lines, which is also projected to contribute to the growth of the segment during the forecast period.

Based on end-user, the IT & telecom segment in the global VoIP services market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the wide-ranging use of VoIP services in the IT & telecom industry for resolving customer queries effectively, analysing key metrics with the help of call analytics, handling high call traffic, and providing multiple phone lines to BPOs.

Our in-depth analysis of the global VoIP services market includes the following segments:

Type	Integrated Access SIP Trunks Hosted IP PBX Managed IP PBX Others
End-User	Retail Education Healthcare BFSI Government IT & Telecom Hospitality Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of VoIP services is estimated at USD 156.05 billion.

VoIP Services Market size was valued at USD 144.38 billion in 2023 and is likely to reach USD 504.36 billion by 2036, registering around 10.1% CAGR during the forecast period i.e., between 2024-2036. The growth in adoption of cloud-based VoIP services across several enterprises and the developments in 5G technology will fuel the market growth.

Asia Pacific is poised to dominate majority revenue share by 2036, owing to rising number of smartphones and internet users, and the consequent focus of companies on providing mobile VoIP solutions in the developing countries of the region such as China and India.

The major players in the market include AT&T Inc., Avaya Inc., Cisco Systems, Inc. and Microsoft Corporation, among others.

VoIP Services Market Analysis