Global VOIP Industry
The Voice over internet Protocol (VoIP) services industry refers to the conversion of voice signals into digital data, which is transmitted over the internet, reports IBIS World. VoIP services cater to businesses, consumers and state bodies. VoIP services are delivered through several facilities, including cable infrastructures and the Public Switched Telephone Network (PSTN). Other delivery providers include power lines, satellite and wireless infrastructures.
The global VoIP market recorded strong growth between 2006 and 2010, but the residential customer segment has witnessed a decline since 2010. Obstacles to market entry include competition from leading outfits such as Google, and strict regulations to which the industry must adhere. The rollout of 4G technology will fuel market growth, and cable companies offering VoIP service together with cable service will do well over coming years.
Mobile VoIP applications are expected to reach $36 billion by 2016, with the number of users rising to 180 million, reports Visiongain. VoIP technology is allowing operators to provide cheaper communication services to an ever-expanding global consumer base. Mobile operators and VoIP vendors continue to team up to better deploy mobile VoIP services.