The growth of VoIP Technology and VoIP Industry

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VoIP Technology is one of the most innovative
technologies of the 21st century. This
revolutionary technology combines the internet
protocol and traditional telephony. VoIP
Technology provides low cost international or
long distance calls throughout the world. Both
end users and various corporate sectors have
taken up VoIP technology due to its numerous
features. VoIP Technology is the main reason
behind the tremendous transformation of the
business communication sphere.
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Here are the key factors which helps the VoIP
technology to grow The market of the VoIP
industry remains fresh as new players or
companies enter frequently. This increases the
competition and also in turn benefits the user.
US, the largest user of VoIP, 36 of all
businesses are already using VoIP and this number
increases steadily. 41 states of US are in favour
of VoIP over the traditional phone line. As
compared to its counterpart, the PSTN, VoIP
Technology is more environment friendly. It
reduces the use of cables and heavy
infrastructure (hardware) eventually reducing
waste generation.
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VoIP industry is one of the most profitable
sectors to invest in todays world. Increase in
the number of VoIP Providers increases the
competition in the VoIP industry. It also
provides the consumers a wide range of options to
choose from. Developed countries use the VoIP
technology more than the developing nations or
others. The estimate for growth of global VoIP
equipment is around 20 - 40 per year.
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Various researches estimate the growth of VoIP
market to reach 140 billion USD by the year
2021. The global mobile VoIP market trend shows
an impressive CAGR of around 28 percent during
the forecast period, 2016-2020. Projections show
the VoIP services market to expand at the rate of
10 percent every year until 2021. According to
this, the number of VoIP users (individuals) will
exceed 1 billion by the end of 2017.
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Projecting the decline of traditional telephone
system, reports predict that by the end of 2018
only 6 of the U.S. population will continue with
the traditional landline phone network.  Accordin
g to Information Week, 70 of companies use UC
(Unified Communications) in the cloud or plan to
do so.  The number of Mobile VoIP users will
touch 1 billion by the year 2017. The global
enterprise mobility market expects to reach USD
500.0 billion in 2020.
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