The VoIP market in Latin America is expected to witness an increased rate of 15% during the forecast timeline. Rising internet usage, increasing investments in telecom technologies, and growing usage of cloud-based communication platforms are expected to stoke up the VoIP market growth in the region.
The companies in the region are all releasing a cloud-based communications system to help manage their communications infrastructures. This also makes global players aggressively expand their presence in the area by entering conformity with local companies that have extensive distribution networks.
One, for instance, is in November 2017 where Grandstream partnered with Net2phone ( a VoIP and cloud computing-based company) to deliver a comprehensive IP-based communication solution for the business in Argentina.
The rapid incursion of advanced technologies has brought another leap to the forefront of the voice over internet protocol(VoIP) market landscape. Originated some time in the 1990s, the VoIP technology is gathering a lot of attention on account of being one of the most effective methods of voice calling across the globe. As the mobile industry evolves every day, it is being talked that VoIP might soon overtake the PSTN as far as voice calling is concerned, thereby changing the global VoIP market.
Out of IP PBX, managed IP PBX, and integrated access which constitutes the most common types of VoIPs, the unified access protocol -also tagged SIP trunking, is worldwide known as the most popular. Yes, the usage of SIP trunks is known to have been very advantageous, with such flexibility to control over call routing, very laudable cost savings compared to other conventional protocol types, and disaster recovery.
Some organizations largely adopted the usage of integrated access devices, as they tend to help them integrate their legacy phone system with VoIP software.
It comes as no surprise that integrated access or SIP trunking dominated the voice over internet protocol (VoIP) market in 2018 – garnering a market share of 52%. As other enterprises continue to deploy this platform over other traditional alternatives, this access will remain dominant in the VoIP market over 2019-2025, the report reveals.
The expected growth rate of 18% for the education voice over internet protocol (VoIP) market, this will occur during the forecast timeline due to the extensive use of IP phones and softphone applications that enable collaboration among classes and hold seminars through VoIP system without being present physically at the location.
Phone systems are widely being used by schools to communicate with parents to provide any alerts and updates regarding their child’s behavior and progress. As traditional phones may be costly in calling, educational institutions are adopting such phones to help control and minimize cost for a communication system. These phone facilities smoothen voice communication to help enhance school administration and help enable departments and teams to handle calls better.
Consumers segment is foreseen to grow at a CAGR of over 14% between 2019 and 2025.
There are a number of residential customers who are already making the switch from traditional landlines to VoIP due to the fact that VoIP has a better service offer. These services include unlimited calling and many free features such as call waiting, call forwarding, and caller ID, which are generally charged by traditional phone companies. These features are becoming more popular since they can help lessen the users home phone bill to a greater extent and also include exclusive sign-up bonuses and even giving away monthly specials, which consumers like.
Companies nowadays started to outline practical demonstrations.
These may include features such as instant website calling and live video assistance for the customers. As the demand for these solutions significantly increases across multitude – use verticals, the global voice over internet protocol is expected to go out as one of the most revolutionary technology verticals in recent times. As per a report by Global Market Insight, Inc., it is also anticipated to surpass $55 billion by the year 2025.
The VoIP market may have started out as a plan to revolutionize the traditional way of communication, but with leaps of ingenuity, it has evolved to be one of the leading communication platforms in the industry. VoIP will soon be the leading used communication platform if the projected forecast persists in being correct.