Christy Publications VoIP Services Market | Page 2

in emerging economies is hindering growth of the global Voice over Internet Protocol Services
market.
Corporate user is projected to hold the dominant position in global Voice over Internet
Protocol Services Market
On the basis of end users, the Voice over Internet Protocol Services market is segmented into
corporate user and individual user. The corporate user segment held the dominant position in
2017 and it is projected to retain its dominance throughout the forecast period. In 2017, the
corporate user segment generated the revenue of US$ 69.4 billion from US$ 63.4 billion in 2016.
The cost reduction is major factor for growth of the segment in VoIP market, as most of the
business organizations are implementing the VoIP systems to reduce their operation cost.
Increasing adoption of smartphones will increase the growth of Voice over Internet Protocol
Services market.
Rising adoption of smartphone across the globe is the major factor for growth of the Voice over
Internet Protocol (VoIP) Services market. In 2016, Europe was the dominating region in the VoIP
Services market. Countries such as Germany, UK, France, Italy, Spain, and Russia contributed to
major growth in VoIP Services market. According to Coherent Market Insight in 2017, the VoIP
Services market generated revenue of US$ 35.1 billion compared to US$ 32.7 billion in 2016.
According to Statista, during 2016, the number of smartphone users in Western Europe was
estimated to be 240.3 million which reached to around 258.1 million people in the year 2017.
Therefore, increasing number of smartphone users has enhanced growth of mobile-based Voice
over Internet Protocol Services market in Europe. Furthermore, increasing trend of digitalization
has also increased growth in the VoIP Services market in this region. Asia Pacific is expected to
dominate the Voice over Internet Protocol Services market during the forecast period. Rising
startups related to digitalization in strong economies such as China, India, Japan, and Australia
are expected to boost growth of VoIP Services market in this region. For instance, according to
Government of India survey 2015 - 2016, about 19,000 technology-enabled startup was led by
consumer Internet and financial services in India.
Key Companies - Global Voice over Internet Protocol Services Market
Major players operating in the global Voice over Internet Protocol Services market include 8x8,
Inc., Apple Inc. (FaceTime), Avaya, AT&T Inc., Verizon Wireless, Orange, Deutsche Telekom AG,
KT Corporation, Sprint Corporation, Telecom Italia, Telenor, T-Mobile, and Tata Communication