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VoIP Services Market Trends

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Report ID: 3298
Published Date: Aug 29, 2024
Report Format: PDF, PPT

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VoIP Services Market Trends

Growth Drivers

Growth in Adoption of Cloud-Based VoIP services Across Several Enterprises
Rising Developments in 5G Technology

Challenges

Risks Associated with the Breach of Data
Apprehensions Related to the Quality of Service

VoIP Services Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	10.1%
Base Year Market Size (2023)	USD 144.38 billion
Forecast Year Market Size (2036)	USD 504.36 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

VoIP Services Market Size & Share, Growth Trends 2036

Author Credits: Abhishek Verma

Report ID: 3298
Published Date: Aug 29, 2024
Report Format: PDF, PPT

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.

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