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Softphone Software Market Segmented By SMEs, Large Enterprises in BFSI, Healthcare, Retail, IT & Telecom, Education, Manufacturing Industry
The softphone software market is set to witness steady growth of 11% during 2021-2031. One of the major growth drivers for the softphone software market happens to be the cost-benefits of softphone software over circuit switched networks. Increasing dependency on cloud-based unified communications along with transition from legacy systems are further driving the market growth.
Furthermore, emergence of 5G technology is another major factor fueling the growth of softphone software market across the globe.
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A softphone is a software program for making telephone calls over the Internet using a general purpose computer rather than dedicated hardware. The VoIP technology is proving to be an alternative to traditional telephony services. Increasing demand for softphone software across different enterprises in order to reduce the desk phone hardware is primarily driving the market growth.
Moreover, the SMEs and large enterprises are adopting softphone solutions in order to reduce the infrastructural cost on a normal desk phone. The cost effective solution of the softphones for enterprises is expected to fuel the market during the forecast period.
Increasing focus towards improving the efficiency and streamlining the business processes are some of the significant factors driving the growth of the softphone software market. However, higher costs of these solutions and performance issues are expected to cause hindrance in the growth of the softphone software market over the forecast period.
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Get a Customized VersionOn the basis of enterprise size, the softphone software market has been bifurcated in to SMEs and large enterprises. Out of which, large enterprises segment is expected to hold the largest share of the segment, whereas, SMEs segment is anticipated to grow at the highest CAGR over the forecast period.
There has been an upsurge in the demand for softphone software owing to its cost efficiency and are increasingly being adopted by SMEs across different industry verticals. Increasing trend of mobility in businesses is another major factor fueling the growth of global softphone software market.
U.S. happens to be one of the largest markets for softphone across the globe. The growth in U.S. is attributed to the presence of established players such as RingOver, Skype, and Adore Infotech, among others in the region. Moreover, US happens to be a technology hub and there has been an upsurge in the adoption of softphone solutions in IT and service centers.
Moreover, growing demand for softphone solutions across call centers in order to increase the performance of VoIP services and IP telephony within the enterprises is anticipated to drive the growth of softphone software market over the forecast period.
Furthermore, Canada is expected to grow at a high CAGR owing to the growing IT sector and increasing adoption of technologically advanced products.
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Growing popularity of VoIP networks coupled with increasing commercialization of 5G in the European region, happens to be one of the major factors propelling the growth of softphone software market. Moreover, increasing efforts taken by private companies and government agencies for the development of wireless communications infrastructure is further driving the growth of softphone software market in the region.
Moreover, the growth in the region can be attributed to increasing adoption of cloud-based VoIP services owing to its cost-effectiveness.
Some of the leading providers of softphone software include
Companies operating in the market are focused on offering differentiated software solutions in order to meet the consumer demands. For instance, RingOver is offering softphone software solutions which are capable of providing a fully operational cloud contact center in a matter of few minutes.
The company offers two variants, one for business use and one for sales purpose which can easily be integrated with the CRM. Also, the companies operating in the market are also focused on offering softphones for users in order to start a conference, initiate calls, or send a fax from their desktop computers in a hassle-free manner.
By Enterprise Size
By Industry
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, 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 segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
