Mobile over IP market to reach USD 58.21 billion at a CAGR of 12.2% by 2025
New York, United States, August 11, 2021 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), âGlobal Mobile VoIP market information by type of service, by type of operating system, by type of user and by region – forecast to 2027The market is expected to reach $ 58.21 billion by 2025 at a CAGR of 12.2%.
The global mobile VOIP market is driven by the high penetration of the internet and smartphones, as well as the growing trend of BYOD among businesses. In addition, due to lower call rates and transparent communication, the use of mobile VOIP services is increasing rapidly.
The Major Key Players Covered in Mobile VOIP Market are:
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Mobile VoIP is a simple and inexpensive method of communicating through mobile devices such as smartphones and tablets. Mobile VOIP works with 3G, 4G, GSM mobile devices or any other Internet service and allows them to communicate effectively. Transmitting digital data via VOIP is much faster because digital data is divided into packets, with each packet taking the fastest route. Mobile VOIP users will benefit from, among other things, low incoming call charges, no roaming charges and unlimited messaging. Users can access mobile VOIP services by installing mobile VOIP software. These are basically applications offered by VOIP telephone service providers. Mobile VoIP is useful not only for individual consumers, but also for businesses in various verticals. With the help of mobile VOIP services, businesses can save money while increasing the overall efficiency of communication. VOIP apps are available for a variety of operating systems (OS) including Android, iOS, and Windows. Businesses of all sizes are constantly on the lookout for mobile VoIP solutions that can help them deal with various IT complexities.
There are a range of VOIP mobile phone providers in the market that provide services to both individual customers and businesses. They are also expanding their offerings to provide their customers with OTT applications. OTT apps are ‘top’ apps and services such as WhatsApp, Viber, and Voxox that allow customers to communicate via text, call and video, as well as share files. These providers also provide value-added services such as pre-typed scheduled messaging services, which allow users to schedule their text messages. Some providers also have features that allow users to hide chat and lock and unlock hidden chat using different methods such as password or fingerprint. This feature is extremely useful for business communication as it easily prevents unauthorized access to sensitive content. Viber, for example, provides such value-added services. Other value-added services involve removing spam messages while messaging, supporting multiple languages, searching for messages, and compressing files, among others.
The global mobile VOIP market is driven by high internet and smartphone penetration, as well as the growing trend of BYOD among businesses. In addition, the use of mobile VOIP services is increasing dramatically due to lower call rates and seamless communication.
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Market segmentation covered by research:
The global mobile VoIP industry has been segmented on the basis of type, type of service, organization size and vertical.
Based on the type of service, the global mobile VOIP market has been segmented into voice, video, and instant messaging. Voice service won the largest share in the year 2018. However, video service is expected to grow at the highest CAGR. Video services also involve video conferencing and collaboration, which is expected to dramatically increase its adoption by businesses.
Based on the type of operating system, the global mobile VOIP market has been divided into Android, iOS, Windows, and others. The Android segment captured the largest share of the market in 2018. The reason for this is a large number of Android smartphone users across the world.
Based on the type of user, the global mobile VoIP market has been segmented into businesses and individuals. The business segment is expected to have a larger market share. The growing need to have cost effective and smooth communication between businesses is expected to propel mobile VOIP service between them in the near future.
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Regionally, the global mobile VoIP industry has been segmented into Asia Pacific, North America, Europe, Middle East and Africa and South America.
North America dominates the market in terms of market share in the mobile VOIP market. Some of the factors driving the growth of the market include an increase in the use of these services by individuals in various North American countries including the United States and Canada.
Europe is currently ranked second in the market. Europe is divided between the UK, Germany, France, Spain, Italy and the rest of Europe. The UK is expected to gain the largest market share, followed by Germany and France, according to the MRFR report.
Impact of COVID-19 on the Global Mobile VoIP Market
Despite the ongoing COVID-19 pandemic, VoIP services have grown in popularity in the market as the majority of industries have shifted to remote work protocols. With an increase in demand for cloud-based telephone services around the world, the telecommunications industry, especially VoIP, has outperformed the global economy. For smooth online courses, the education industry has widely adopted the VoIP system. Besides the education sector, the health sector, including health workers and doctors, used the system in 2020 for training and virtual meetings in all countries.
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