Latin America Voice over Internet Protocol (VoIP) Market is Projected to Showcase A Growth Rate of Over 15% by 2025
Category: #tech  By Sachin Pashte  Date: 2019-07-29
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Latin America Voice over Internet Protocol (VoIP) Market is Projected to Showcase A Growth Rate of Over 15% by 2025

The Latin America Voice over Internet Protocol (VoIP) Market is expected to witness a growth rate of over 15% during the forecast timeline. Increasing investments in the telecom technologies, rising internet penetration, and growing utilization of cloud-based communications platforms are expected to fuel the VoIP market growth in the region. The enterprises in the region are deploying cloud-based communications systems to manage their communications infrastructure. Also, global players are aggressively expanding their presence in the region by entering into agreements with companies operating locally with extensive distribution networks. For instance, in November 2017, Grandstream partnered with Net2phone to deliver a comprehensive IP-based communication solution for businesses in Argentina.

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The rapid influx of advanced technologies has brought another vertical to the forefront of the voice over internet protocol (VoIP) market landscape. Incepted somewhere in the 1990s, the VoIP technology is now garnering universal attention on account of the fact that it is one of the most effective methods of voice calling across the globe. As the landscape of mobile industry evolves by the day, it is being touted that VoIP might soon overtake the presence of PSTN as far as voice calling is concerned, thereby augmenting the global voice over internet protocol (VoIP) market.

Out of managed IP PBX, hosted IP PBX, and integrated access, all of which constitute the most common types of VoIPs, the integrated access protocol – also tagged SIP trunking, is known to garner the maximum popularity worldwide. Indeed, the usage of SIP trunks is known to offer several advantages, such as flexibility and control over call routing, commendable cost savings compared to conventional protocol types, and disaster recovery. Integrated access devices are largely adopted by organizations, as they help them integrate their legacy phone systems with VoIP software.

Given the incredible advantages provided by SIP trunks, it comes as no surprise that integrated access/SIP trunking dominated the overall voice over internet protocol (VoIP) market in 2018 with a market share of 52%. As enterprises continue to deploy this platform over traditional alternatives, integrated access segment will remain dominant in voice over internet protocol (VoIP) market over 2019-2025.

The education voice over internet protocol (VoIP) market is expected to witness a growth rate of over 18% during the forecast timeline due to the extensive use of IP phones and softphone applications to enable collaboration among classes and conduct seminars through VoIP systems without physically being present at the location. The technology is gaining traction to reduce the amount spent on procuring expensive telephony equipment. Phone systems are widely being used by school authorities to interact with parents to provide alerts and updates regarding child’s behavior and progress. As traditional phones incur huge calling expenses, the educational institutions are adopting such phones to utilize the benefits of the cost-effective communication system. These phones facilitate smooth voice communication to enhance school administration and enable departments and teams to handle calls efficiently.

The consumers segment is projected to grow at a CAGR of over 14% between 2019 and 2025. Residential VoIP is gaining popularity as it offers several services that are not available with landlines. Many residential customers are switching from traditional landlines to VoIP as these services include unlimited calling and many free features such as call waiting, call forwarding, and caller ID, which are normally charged by traditional phone companies. These services and plans are becoming prevalent as they can reduce home phone bills to a greater extent and also include additional sign-up bonuses and monthly specials.

Companies nowadays have begun to depict practical demonstrations such as instant website calling and live video assistance for customers. As the demand for these solutions increases across numerous end-use verticals, the global voice over internet protocol is expected to emerge as one of the most pathbreaking technology verticals in recent times. As per a report by Global Market Insights, Inc., the overall voice over internet protocol (VoIP) market is anticipated to surpass USD 55 billion by 2025.

The VoIP market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025 for the following segments:

Voice over Internet Protocol Market, By Type

  • Integrated Access/SIP Trunking
  • Managed IP PBX
  • Hosted IP PBX

Voice over Internet Protocol (VoIP) Market, By Access Type

  • Phone to Phone
  • Computer to Computer
  • Computer to Phone

Voice over Internet Protocol Market, By Call Type

  • International VoIP Calls
  • Domestic VoIP Calls

Voice over Internet Protocol (VoIP) Market, By Medium

  • Fixed
  • Mobile

Voice over Internet Protocol (VoIP) Market, By End Use

  • Consumers
  • SMBs
  • Large Enterprises

Voice over Internet Protocol (VoIP) Market, By Application

  • IT & Telcom
  • BFSI
  • Government & Public Sector
  • Healthcare
  • Retail
  • Education
  • Hospitality
  • Others

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

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Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

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About Author

Sachin Pashte    

Sachin Pashte

Sachin is into market research and web marketing since the last 2 years and has worked on multiple projects across various industries. He has expertise in writing promotional content for market research reports while his personal interests include the games of footbal...

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