VoIP Services Market - The Emergence of Mobile VOIP Services Due To Advancement In Wireless Network Technology.

Technological advancements in network infrastructures, a high price-performance ratio, and increased need for mobile communication services (through wireless media) have resulted in an increase in demand for VoIP services across corporate and individual consumer groups. Factors such as the growing trend of bring your own device (BYOD) in the corporate consumer segment and the diversification of telecommunication service providers to VoIP services are driving market expansion. Furthermore, the increased competition among telecommunications and internet service providers to give the finest solution is prompting industry VoIP service providers to provide bundle services to differentiate their products.

The corporate consumers of VoIP services market demand for high quality and high-speed data and voice services. This offers potential opportunities for the VoIP service providers to offer their solutions to these enterprises. The major services offered to the corporate consumers by the VoIP service providers include IP connectivity, managed IP PBX and hosted business solutions. In 2013, the highest contribution was from the hosted business solutions with a percentage share of 60.8% of the total revenue generated from the corporate consumers segment.

The increasing desire for mobility drives business and individual consumers to use smart portable devices such as tablets and smart phones. As a result, the need for low-cost VoIP services rises, and these devices can also be used to interact via the internet. As a result of the rising penetration of these smart portable devices, the number of phone-to-phone (mobile VoIP) and computer-to-phone VoIP customers is predicted to expand at a rapid pace over the forecast period. Furthermore, the BYOD trend in the corporate consumer segment is contributing to the expansion of smart devices, and as a result, demand for mobile VoIP in this segment is likely to skyrocket during the projection period. The number of phone-to-phone VoIP subscribers is predicted to expand at a CAGR of 10%.