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Mobile VoIP Apps Market - Global Industry Trend Analysis 2015 to 2019 and Forecast 2020 – 2028
Robust increase in sales of smartphones has led to exponential adoption of mobile VoIP over fixed-line VoIP. Millions of users are subscribing to one of many companies offering mobile VoIP applications and services. For instance, Google developed Google Hangouts—an Android-based application that provides free VoIP services. Similarly, Apple Face Time comes pre-installed on iPhones and offers similar functionalities. Growing competition and a wide range of differentiated offerings by VoIP service providers are expected to result in exponential growth of mobile VoIP (voice over internet protocol) apps in the near future.
Mobile VoIP is an extension of the mobility to the voice over IP telephony. The availability of high-speed internet, coupled with rapid adoption of social media applications, is fuelling the growth of the mobile VoIP apps market. The growth in the capability of wireless bandwidth services and cost-benefits over circuit-switched networks are triggering the growth of the mobile VoIP market.
Due to the spread of novel coronavirus, most of the employees or laborers were forced to work remotely. Governments across the world had imposed lockdown to control the spread of the virus. Thus to maintain the communication among the employees working remotely the demand of mobile VoIP apps has increased significantly.
The usage of mobile VoIP apps has increased among all the industries and different sectors. Many doctors and health workers have using mobile VoIP apps immensely in their training and meetings. Many schools and education firms have largely adopted the VoIP system to allow VoIP video calling for online classes.
VoIP companies have not been much affected by the pandemic outbreak, but some companies are facing few issues with the cash flow in the market alike other industries. Most of VoIP solution providers have continued to invest in their network for a long-term period, and some are looking forward to 5G technology as it will advance speed and reliability. Thus mobile VoIP apps market has experienced a growth of almost 8%-10% amidst the situation of pandemic outbreak.
Increasing adoption of mobile VoIP Apps in Small and Medium Enterprises Is Propelling the Growth of Market
The mobile VoIP apps are being used by small and medium enterprises which is fuelling the market and providing substantial cost advantages with wider connectivity. Mobile VoIP apps are working as a substitution for traditional phone calls due to cost effectiveness of the service and global reach. VoIP can be used through two primary costs such as the ongoing services cost, and the handset cost for one-time.
Transition of small and medium sized businesses from hardware such as IP PBX and unified communication services into cloud-based VoIP apps. The reason for this is high costs involved in processes of hardware used to get the VoIP communication services. Better quality of services with high bandwidth and security assurance might ensure uninterrupted and highly-trusted communication services to consumers. Thus it is a major factor contributing towards the growth of the mobile VoIP apps market.
Carrier-owned telecom networks are changing rapidly. The changes are expected to favor the market positively in the near future by replacing the vertically separated networks from an all-IP converged network, which may encourage migrating of telecommunication sector towards next generation network. For instance, India’s telecommunication market is favored by regulatory framework of Internet telephony as the government is providing license to Internet service providers to boost mobile VoIP apps market.
Examples of some of the market participants in the global mobile VoIP apps market identified across the value chain include Microsoft Corporation, Apple. Inc., Tata Communications Ltd, Vonage Holdings Corporation, Facebook, Inc., 8x8, Inc., Kakao Corporation, Talk 360, Google Inc., One Horizon Group Inc., and others.
On the basis of geography, East Asia and South Asia and Pacific are projected to be the fastest-growing region owing to the increasing subscriber base in economies such as China, Japan and India. This growth of mobile VoIP apps is attributed to the wider availability of free applications and increased investment in the deployment of high-speed internet. In addition, mobile and content consumption are on a rise in India leading to increased demand for these services.
The Mobile VoIP Apps market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.