Internet protocol (IP) telephony is an umbrella term for an array of technologies used in exchanging information over voice, fax, and other mediums. It can deliver voice and other multimedia formats for communication purposes. The leaps in internet based technology and improvement in quality and dip in prices has led to its investments in major corporations and businesses. The global IP telephony market report by Market Research Future (MRFR) has been compiled by using an investigative examination of the economic scenario, demand for internet, and other supporting factors and challenges for the period of 2017 to 2023 (forecast period). The COVID-19 impact on the market has been written in detail in the report.
IP
telephony refers to the technology that allows voice and multimedia
communications over the Internet Protocol (IP) network, such as the internet.
The IP telephony market is a growing and competitive market that offers various
products and services, including IP PBX systems, IP phones, voice over IP
(VoIP) services, and unified communication and collaboration (UC&C)
solutions. Major players in the IP telephony market include Cisco Systems,
Microsoft, Avaya, RingCentral, 8x8, and Zoom, among others.
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Market
Scope
The global
IP telephony market is expected to grow at a CAGR of 9% during the forecast
period. Ease of installation and configuration of internet run devices can
drive the market demand. Demand for mobile telephony, dependence of enterprises
on the Internet, and expansion of ecommerce sector can drive the market.
Deployment of new communication networking technologies and investments in high
data speed cables can bode well for the market.
The
outbreak of the COVID-19 virus has become a boon for IP telephony service
providers owing to the rise of remote work. Relaxation of rules and move to
shift call center services, medical transcription services, and other IT
enabled services at homes can bode well for the market.
Segmentation
The global
IP telephony market is segmented by component, organization size, connectivity,
and vertical.
Based on
the component, the market is segmented into hardware, softphones, and services.
The hardware segment is further segmented into audio conference phones, IP desktop
phones, and DECT phones. The services segment is further classified into
managed services and professional services.
Based on
the organization size, the market is segmented into SMEs and large enterprises.
Large enterprises can account for a large market share owing to adoption of
VoIP applications for reducing operational costs.
Based on
vertical, the market is segmented into BFSI, healthcare, manufacturing, IT
& telecommunication, retail, government, and others.
Regional
Analysis
The global
IP telephony market is studied in Asia Pacific (APAC), North America, Europe,
and Rest-of-the-World (RoW).
North
America is estimated to account for the largest share of the market, whereas
Asia Pacific is projected to grow at the fastest rate during the forecast
period. The growth of the market in North America is attributed to
technological advancements and increased adoption of IP telephony applications
across various industry verticals such as healthcare, retail, BFSI, and IT
& telecommunication, and others. The focus of organizations to continue
their business without interruptions can favor the market till 2023.
APAC is
expected to experience a remarkable growth rate during the forecast period
owing to demand for video conferencing and rise of bring-your-own-devices
(BYOD). The rising globalization and need for stable communication channels can
induce the demand for IP telephony services. Rise of startups and stimulus
provided to business through subsidies and incentives by governments can
bolster the market demand till 2023.
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Competitive
Outlook
Ascom
Holding AG, Panasonic Corporation, Avaya Inc., Cisco Systems, Inc., Yealink
Inc., NEC Corporation, Grandstream Networks, Inc., Polycom Inc., Gigaset
Communications, Mitel Networks Corporation, and LG Electronics Inc. are key
players of the global IP telephony market.
How do IP
Telephones function?
IP
telephones work by scanning and detecting an individual's analog voice signal
and converting it into digital signals. Then, in the form of data, these
digital signals are transmitted across the broadline. In layman's terms, IP
phones work by taking phone conversations and routing them through an IP phone
system across a network cable into the network, then out, and finally into the
internet connection.
Instead,
we can say that IP phones use "internet protocols" to connect and
communicate through the digital mode across the internet. This system allows
you to use this technology instead of traditional phone systems to improve
communication. Leverage the internet connection, the associated hardware (phone
system), and the applications that improve communication.
Alternatively,
instead of the traditional phone line and phone network, the system uses the
internet protocol and LAN to transmit calls and other information over your
office network and the phone provider's network. Computer systems, devices, and
printers all use the same protocol and network. This makes it relatively
effective for you and your staff need to operate & maintain only one
internal network for all communications.
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1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of Global IP Telephony Market
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