The latest report by IMARC, titled “Mobile VoIP Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global mobile VoIP market size reached US$ 33.5 Billion in 2021. Mobile VoIP refers to a technology that enables the consumer to make voice calls through a broadband internet connection instead of an analog or regular phone line. The data is transmitted in small-sized packets, which increase the spectrum efficiency and reduce the maintenance cost. Some of the most common benefits offered by mobile VoIP include enhanced portability, clear voice quality, high scalability, instant messaging, and video conferencing at the lowest cost. In recent years, mobile VoIP has gained momentum due to its extensive adoption for video conferencing and virtual connectivity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.
Global Mobile VoIP Market Trends:
One of the primary factors driving the market is the excessive adoption of smartphones, along with the increasing penetration of high internet connectivity. Additionally, the growing trend of innovative and user-friendly applications, including Line, Skype, WhatsApp, Viber, and others, to improve the smartphone functionality is creating a positive market outlook. Other than this, the low data rates, economical calling prices, and robust network infrastructures and the increasing trend of Bring Your Own Device (BYOD) among various enterprises are propelling the market growth. In line with this, smartphone producers are introducing advanced variants with enhanced features, including flexible screens and holographic displays, to offer higher compatibility with mobile VoIP services, thereby catalyzing the market growth. Furthermore, with the sudden coronavirus disease (COVID-19) outbreak, governments of numerous nations have implemented lockdowns, resulting in the rapid adoption of remote working models. On account of these factors, IMARC Group expects the market value to reach US$ 67.8 Billion by 2027, expanding at a CAGR of 12.6% during the forecast period (2022-2027).
- Based on the platform, the market has been divided into android OS, iOS, window OS, and others.
- On the basis of the service, the market has been segmented into video and voice call, video conferencing, instant messaging, and others.
- Based on the model type, the market has been categorized into freemium, premium, and enterprise model.
- On the basis of the vertical, the market has been segregated into healthcare, banking and financial services, retail, government, education, transportation, media and entertainment, military and defense, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 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 SG), and Vonage Holdings Corporation.
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.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800