The VoIP market continues to grow and grow, even as workers continue to work from home. What are the reasons this huge and robust market is not slowing down? Let’s take a look.
The VoIP Market.
Voice over internet protocol, or VoIP, isn’t new. It emerged in the mid-1990s, shortly after the World Wide Web arrived in earnest with dial-up internet access. But even though VoIP is nearly 30 years old, the market in which it operates is ready to grow at a rapid rate most markets only enjoy in their infancies.
Big Gains On The Horizon.
Cost-effectiveness and efficiency are two major reasons why users are increasingly adopting VoIP. This is driving significant growth in the global VoIP market, making it a staple solution for MSPs. In 2021, the global VoIP market was worth about $85.2 billion, according to Research and Markets. They expect that number $102.5 billion by 2026. That’s a compound annual growth rate of 3.8%. Most markets can only dream of growth like that.
It’s important to note that VoIP services are more than just voice as various multimedia protocols provide video services too. And with the COVID-19 pandemic drastically disrupting office work, and the entire economy, many may have thought the VoIP market would take a hit, too. But if anything, the opposite has happened.
The pandemic has resulted in a boost in the market for VoIP services, especially in industries such as IT, telecom, and retail. Because of all the lockdowns, restrictions, or just in an effort to keep their employees safe and happy, many businesses enabled their staff to work from home. Similarly, education institutions used virtual learning, too. Far from hurting the growth of VoIP, this has supercharged it. With more people aware of the benefits of VoIP than ever before, the market is only expected to grow and grow.
Wireless Internet Is Driving Demand.
Another key factor is the ease of use and low levels of maintenance required to use VoIP now. Once upon a time, VoIP required users to have a physical connection to the internet to make calls. But with wireless internet being abundant now, VoIP is more practical and useful than ever. And the growth of VoIP is not limited to one geographic region. VoIP is growing the world over.
Join The Global VoIP Market.
All this growth in the global VoIP market means one thing for certain: many more people will be using VoIP technology in the immediate future. Whether you want to start using it yourself or start offering it to your customer base, the best place to start is by reaching out to us at D3UC. Our white-label cloud-based phone and unified communications (UC) service allow you to provide the best solution for a still-growing market, all under your own banner and at prices you set. So, if you’re ready to get in on one of the biggest opportunities around, get in touch with us today.