IMARC Group has recently released a new research study titled “Mobile VoIP Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global mobile VoIP market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the mobile VoIP market?
The global mobile VoIP market size reached US$ 37.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.72% during 2023-2028.
What is mobile VoIP?
Mobile voice-over-internet protocol (VoIP) refers to the technology that allows voice communication over internet connections using mobile devices. It enables users to make voice calls and send messages using their smartphones or tablets through internet protocol networks, rather than traditional cellular networks.
One of the primary advantages of mobile VoIP is its potential for cost savings. Since voice calls are transmitted over the internet, users can avoid expensive long-distance or international calling rates imposed by cellular carriers. In addition to this, mobile VoIP often includes features, such as video calling, instant messaging, and file sharing, offering a more comprehensive communication experience.
Mobile VoIP leverages the internet to transmit voice data packets, converting analog voice signals into digital data that is sent over IP networks. This technology utilizes Wi-Fi or mobile data connections to establish communication channels, providing a cost-effective alternative to traditional voice calls and messaging services.
Mobile VoIP applications, also known as softphones, are readily available as downloadable apps for smartphones and tablets. These apps typically require an internet connection and rely on third-party VoIP service providers or operate within closed networks.
What are the growth prospects and trends in the industry?
The widespread adoption of smartphones represents one of the significant factors driving the growth of the market across the globe. This, coupled with the easy accessibility and availability of mobile VoIP, is acting as a major growth-inducing factor. In line with this, the cost advantages offered by mobile VoIP as compared to traditional voice calling methods, especially for long-distance and international calls, are contributing to the growth of the market.
The market is also driven by the development of high-speed mobile networks, such as 4G and 5G, along with improved network capabilities that enable high-quality voice calls and video conferencing, thereby enhancing the user experience and driving adoption. In addition to this, the expanding internet connectivity, along with the increasing adoption of broadband and mobile data networks is driving the growth of the market.
As mobile VoIP offers a wide range of features beyond voice calling, including instant messaging, video calling, file sharing, presence information, and integration with other communication tools, it is facilitating the growth of the market. Moreover, the rise of remote work and the globalization of businesses are driving the demand for efficient and cost-effective communication solutions, which, in turn, is boosting the growth of the market.
Apart from this, service integration with existing systems, along with significant advancements in VoIP technology, such as improved codecs, better compression algorithms, and enhanced voice quality, is providing growth opportunities for market players.
Additionally, regulatory bodies in various countries are encouraging the adoption of mobile VoIP by promoting fair competition, reducing barriers to entry, and ensuring favorable policies for VoIP service providers, which represent some of the other factors creating a positive outlook for the market across the globe.
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Key Market Segmentation:
The report has segmented the global mobile VoIP market based on platform, service, model type, vertical and region.
Breakup by Platform:
- Android OS
- iOS
- Window OS
- Others
Breakup by Service:
- Video and Voice Call
- Video Conferencing
- Instant Messaging
- Others
Breakup by Model Type:
- Freemium Model
- Premium Model
- Enterprise Model
Breakup by Vertical:
- Healthcare
- Banking and Financial Services
- Retail
- Government
- Education
- Transportation
- Media and Entertainment
- Military and Defense
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Competitive Landscape With Key Players:
The competitive landscape of the mobile VoIP market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Apple Inc.
- Facebook Inc.
- Google Inc.
- Citrix Systems Inc.
- Kakao Corporation
- Grasshopper Group LLC. (LogMeIn Inc.)
- Microsoft Corporation
- Tata Communications Ltd.
- Tencent Holdings Ltd.
- T-Mobile (Deutsche Telekom AG)
- Vonage Holdings Corporation
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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