VoIP Services Segmentation
Service Type (Hosted VoIP, On-Premises VoIP)
The hosted VoIP segment in VoIP services market is anticipated to hold 52.1% of the global market share by the end of 2037. Long-term cost benefits and scalability features are driving the sales of hosted VoIP technologies. The digital shift is poised to fuel the application of hosted VoIP solutions in small and medium enterprises. The Small Business Administration 2024 report underscores that SMEs represent over 98.5% of all businesses in the U.S. and are forefront of the adoption of hosted services. The cloud computing advances and improved broadband penetration are further boosting the demand for hosted VoIP services.
End user (BFSI, Telecom, Healthcare, Manufacturing, Retail, Government, Education)
The BFSI segment is foreseen to account for 36.3% of the global VoIP services market share throughout the forecast period. The strict regulatory mandates to secure reliable communication systems are fueling the sales of VoIP solutions. BSFI companies are investing in advanced VoIP technologies to reduce the chances of cyberattacks. Strict regulations, including the Gramm-Leach-Bliley Act in the U.S., are contributing to the increasing sales of reliable and next-gen VoIP technologies. Furthermore, continuous technological innovations are expected to offer robust data protection and seamless connectivity in VoIP solutions. This is set to create trust and operational continuity among BFSI users.
Our in-depth analysis of the global market includes the following segments:
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