The global mobile VOIP market is estimated to reach USD 58.21 billion by 2025, growing at a CAGR 12.21% during the forecast period (2019–2025).
The global mobile VOIP market is expected to grow significantly during the forecast period, 2019–2025. The key factor driving the growth of the market is increasing reach of the Internet in different regions specifically in developing regions as well as increasing ownership of smartphones across the globe. Mobile VOIP services include voice, video and instant messaging services over mobile internet. Mobile VOIP offers several benefits to both individuals as well as businesses. It is a low-cost way of communication which saves a huge sum on communication. It helps in simplified conferencing without uninterrupted access across the globe. Most VOIP service providers offer additional services including file sharing, message deletion capability, and security to sensitive messages among others. All these benefits have led to continuous adoption of mobile VOIP services among businesses.
The mobile VOIP market comprises several large as well as mid-sized vendors who have been offering affordable and comprehensive services to the end-users. Due to the entry of a number of players in the market, the overall competition in the market has increased. Vendors operating in the market mainly compete on the basis of types of services offered, and overall price of the services.
The prominent players operating in the mobile VOIP market are 3CX, Vonage, Microsoft Corporation, Facebook Inc., Rebtel, CommPeak Limited, 8x8, Inc., Nextiva, Phone Power, Tata Communications, VoIP Office, RingCentral, Inc., and Junction Networks
The global mobile VOIP market has been segmented on the basis of type, service type, organization size, vertical, and region.
Based on service type, the mobile VOIP market has been segmented into voice, video, and instant messaging. Voice service accounted for the largest share in the year 2018. However, video service is expected to have largest share in the forecast period.
The geographic analysis of the mobile VOIP market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.
North America is expected to be the largest market for mobile VOIP during the forecast period. North America has been segmented into three countries, namely the US, Canada, and Mexico
The US is a leading country in North America, holding the largest market share and is expected to register substantial growth during the forecast period. Companies are increasingly using mobile VOIP services for business-related communication which is increasing the demand for mobile VOIP services and is expected to offer a number of market opportunities. Canada occupies the second position in the North America mobile VOIP service market, however, Mexico is expected to grow at the highest CAGR during the forecast period.
The market in Asia-Pacific is expected to register the highest CAGR during the forecast period. In Asia-Pacific, key countries under the scope of the study are China, Japan, and India. India is expected to register the highest CAGR during the forecast period due to the shift towards BYOD trend among enterprises across industry verticals. The Asia-Pacific region has immense opportunities due to continuous growth in a number of small- and mid-size enterprises who are looking for efficient mobile VOIP services.
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