Market Insight
The global IP telephony market is experiencing a golden period where it is anticipated that the market would gain its prominence at approximately 9% CAGR during the forecast period (2017-2023), says Market Research Future in its in-depth study. The research on the market also reveals some of the leading factors that are influencing the market to expand rapidly along with segmental and regional analysis which predicts the future aspects of the market growth.
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Key Players
The projecting players in the global IP telephony market are listed as Panasonic Corporation (Japan), Avaya Inc. (U.S.), LG Electronics Inc. (South Korea), Grandstream Networks, Inc. (U.S.) Mitel Networks Corporation (Canada), Ascom Holding AG (Switzerland), Polycom Inc. (U.S.), Yealink Inc. (China), NEC Corporation (Japan), and Gigaset Communications (Germany), Cisco Systems, Inc. (U.S.), and to name a few.
Market Drivers & Trends
At present, IP telephony is becoming an integral part of a day to day operations in modern organizations, as it offers better connectivity and mobility along with considerable cost savings on phone calls. On this note, the communication system gets better in an organization with the help of internet connectivity, which becomes the positive point for the IP telephony. These factors are prime factors fueling the market to grow substantially.
At the same time, the IP Telephony Market is accelerating due to its ease of installation and configuration and thus, it is anticipated that the market would gain maximum prominence during the forecast period as well. The study reveals that IP phones are increasingly being deployed in small as well as large enterprises, which is why the market is proliferation at a critical note.
Furthermore, other significant factors driving the growth of IP telephony market are accredited to the growth of e-commerce industry and rising dependence of enterprises on web-based solutions and services. As an add-on, the rising demand for mobile IP telephony solutions is likely to drive the growth of global IP telephony market. In the market, Ascom Holding AG, Avaya Inc., Cisco Systems, Inc., Gigaset Communications, LG Electronics Inc., Mitel Networks Corporation, and Panasonic Corporation are few major players who are continuously contributing to the market’s growth.
In the last, the rising adoption of IP telephony solutions mainly in IT and telecommunication industry vertical is also fueling the market growth exponentially, which would also take the market to gain more valuation backing by the increase in demand for efficient call management and reduced call costs.
Market Segmentation
The global IP telephony market, as per the study, has been segmented by component, organization size, connectivity, and vertical.
In terms of component: Hardware, softphones, and services are the segments, where the hardware segment is also classified into IP desktop phones, audio conference phones, and DECT phones. Among these, the services segment is then again classified into managed services and professional services.
In terms of the organization size: SMEs and large enterprises are the segments.
In terms of vertical: BFSI, healthcare, manufacturing, IT & telecommunication, retail, government, and others are the segments contributing to the market share.
Regional Outlook
The global IP telephony market is analyzed among the key regions of Asia Pacific, North America, Europe, and Rest of the World.
Among these, North America is accredited to have the largest share of the market. The growth of the market in this region due to technological developments and amplified adoption of IP telephony applications in various industry verticals such as BFSI, healthcare, retail, and IT & telecommunication, and more. Even the organizations are also adopting the IP telephony for effective communication.
The Asia Pacific is also anticipated to proliferate at the fastest rate during the forecast period. Augmenting approval of IP telephony solutions coupled with the technological advancements transpired mainly in countries such as China and India, drives the regional market growth. Furthermore, availability of the well-established infrastructure in the developed countries is also to enable faster implementation of advanced technologies, hence motivating the market’s growth in this region.
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Industry News
August 22, 2018:
Reliance Communications (RCom) launched IP Centrex, a telephony solution that provides high-quality, feature-rich voice telephony to the users at the workplace. The addition of IP Centrex also bolsters RCom’s Internet Portfolio (IP) voice portfolio. The service offers a host of features such as HD Voice, call forwarding, personal attendant, conferencing, automatic call repeats, and caller notifications.
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