VoIP Services to Reach $76 Billion by 2015

With the frequency of advancements in innovation, it’s hard to keep up with all the latest developments in telecom equipment these days. In part, this lack of knowledge can create quite a barrier when it comes time to use or deploy new tools and the user is lacking the education needed to make the most of the equipment.

This was at one time true for Voice over IP services, nevertheless not anymore. VoIP, an offering used and deployed throughout enterprises and SMBs around the world, has since turned into a household name, or office name, if you will.

VoIP use and deployment is growing so rapidly, to tell the truth, that a recent report by Infonetics Technology forecasts the VoIP (Voice over Internet Protocol) market to reach $76 billion by 2015.

Of course, this increase cannot be credited to VoIP services alone, as the rise is also partly due to the drive behind supporting solutions like SIP trunking and hosted business VoIP services, according to the study.

The findings

The findings, which were noted in the market innovation firm’s latest VoIP and UC Services and Subscribers report, surveyed vendors and service revenue in the residential/SOHO and business VoIP and UC market.

According to the study, revenue from SIP trunking services to businesses is forecast to grow at an astounding 52 percent compound annual growth rate from 2011 to 2015. To boot, the number of seats for hosted business VoIP and unified communications services is on track to more than double between the then four years.

"We’ve increased our short- and long-term forecasts for the voice over IP services market, as adoption in the residential, SOHO, and business segments continues unabated. The residential segment continues to make up the majority of VoIP services revenue, nevertheless the real growth is in the business segment, particularly SIP trunking services and hosted VoIP and unified communication services," Diane Myers, directing analyst for VoIP and IMS at Infonetics Technology, said in a statement. "Following a healthy 2010, the overall VoIP services market is on track to grow another 17 percent in 2011."

The report as well noted that due to continued demand for cloud-based services, IP Centrex and hosted unified communication service revenue grew 22 percent and seats grew 25 percent in the first half of 2011 compared to the second half of 2010. The number of residential and small office/home office subscribers to hosted VoIP services is expected to grow from 179 million in 2011 to 262 million worldwide by 2015, according to the study.

The three leaders of the global residential VoIP services market, NTT, Comcast, and France Télécom, continue to add new VoIP subscribers in their respective regions, furthermore supporting the increase expected in the VoIP market within the then and there four years.