IP telephony market is likely to be valued at US$ 109.6 Billion by 2032

The United States is poised to maintain a prominent position within the global IP telephony market, with an anticipated compound annual growth rate (CAGR) of 10% throughout the forecast period. The primary catalyst behind this market growth is the rapid development of IT infrastructure within the region. It is estimated that the U.S. market will reach a valuation of approximately US$ 25.6 billion by 2032.

As of 2021, the global IP telephony market was valued at US$ 29.5 billion, and it is projected to reach a valuation of US$ 49.4 billion in 2022. The IP telephony industry is experiencing rapid growth, driven by its profitability and affordability, making it one of the fastest-growing sectors in the business world. These solutions are especially favored by various business corporations due to their user-friendly nature, advanced technology, and capacity to enhance productivity.

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Market Growth Drivers:

Enhancing Growth Potential through Affordable IP Telephony Systems:

IP telephony systems offer cost-effective solutions for business communication needs, providing improved and budget-friendly alternatives. This cost-efficiency factor is poised to drive the global IP telephony market's growth in the coming years, as it gains rapid traction in the business sector. The affordability of IP telephony makes it a prevalent choice in numerous countries worldwide.

IP telephony systems are not only more cost-effective than traditional services but also offer features like free calls and the requirement of only an internet connection. These advantages contribute to its profitability and rapid adoption in the business sector, further fueling market expansion.

Unlocking Opportunities with the Fusion of IP Telephony Systems and IoT:

The Internet of Things (IoT) seamlessly connects all internet-enabled devices, facilitating easy data sharing. The integration of IP telephony systems with IoT has the potential to revolutionize organizational operations and performance, presenting significant opportunities for innovation and growth.

Top of Form

Competitive landscape:

Prominent manufacturers of IP telephony market are eyeing technological innovations in order to provide the most accurate and precise communication system arrangements to their customers. As there is significant increase in AI implementation in the IP telephony market, companies are forging collaborative agreements with government entities to enhance their presence across major geographies. Also many key players are collaborating with others and incorporating new strategies to expand their business.

  • In April 2022, MiRO, a renowned cloud-based collaboration tool for SMEs, announced its partnership with SNOM, a leading IP phone manufacturer, to offer a complete end-to-end voice over IP (VOIP) solution through SNOM’s powerful, flexible, and versatile communication experience.
  • On March 31, 2020 – Cisco announced that NIPPON TELEGRAPH AND TELEPHONE EAST CORPORATION (NTT EAST) has selected Cisco SD-WAN powered by Viptela for its new managed SD-WAN services under NTT EAST's VPN service portfolio for enterprises. This new services will help businesses solve network challenges driven by growth of mobile workers, shortage of IT resources and increasing network management costs.

Key Segments Covered in IP Telephony Market Study:

  • IP Telephony by Component :
    • Hardware Based
      • IP Desktop Phones
      • Audio Conference Phones
      • DECT Phones
    • Softphones
    • Service
      • Maintenance
      • Installation
      • Consultant
      • Other
  • IP Telephony by End Use :
    • IP Telephony for BSFI
    • IP Telephony for Healthcare
    • IP Telephony for Retail
    • IP Telephony for Government Organisations
    • IP Telephony for Other End Use Industries
  • IP Telephony by Region :
    • North America IP Telephony Market
    • Europe IP Telephony Market
    • Asia Pacific IP Telephony Market
    • Middle East and Africa IP Telephony Market
    • South America IP Telephony Market

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