VoIP business is booming. In fact, a recent report shows that the market is forecast to grow at an optimistic CAGR of 9.7 percent between now and 2020, reaching a final value of $136.76 billion.
One factor driving the expansion and success of VoIP is the corporate sector’s increasing demand for long-distance and calling flexibility. Companies today are more globally connected than ever before, and this is expected to influence continued growth as more corporations come to depend on VoIP services to provide the international calling they need to maintain an international presence.
In fact, the report shows that the corporate North American and European VoIP market for this mode of service is expected to develop at a steady CAGR of 8.0 percent through 2020, with international dialing services set to attain 62.3 percent of the global VoIP services market by the same year.
In addition, VoIP will provide the Internet-based foundation that companies will need as they turn to unified communications solutions to collaborate more effectively across teams that are frequently located in far-flung geographic areas. VoIP allows businesses to take advantage of the features unified communications (UC) has to offer without paying high long-distance charges. In these ways, VoIP helps companies improve their bottom lines as well as communicate more seamlessly across long distances.
These factors indicate that VoIP is well-positioned to remain a top business priority for years to come and suggest that VoIP is a smart investment for any company. When it comes to opening the door tocorporate callingand supporting UC features, VoIP offers many benefits that companies like yours will be taking advantage of for the next five years and beyond:
Web conferencing
Achieve seamless, real-time face-to-face communication without the expense and hassle of sending business leaders to remote locations to attend meetings. Smooth team collaboration by enabling leaders and members to communicate effectively from varied locations across the globe without missing out on crucial nonverbal cues that can make or break the delivery of important points.
Mobile capability
VoIP features such as clients for smartphones and softphones help people work effectively from anywhere. The IP connection cuts the cost of long-distance calling, without sacrificing the ability to stay in touch. Employees who are traveling for business can stay connected via their mobile device and receive all their calls from their home office phone number, while avoiding exorbitant long-distance fees.
Support for UC features
VoIP enables a multitude of the communications methods that are most in demand for today’s businesses. Employees near and far can communicate seamlessly using UC methods, such as instant chat, without racking up long-distance fees.
The corporate sector’s need to communicate effectively between distant geographic areas while still keeping costs under tight control will continue to drive the VoIP market for the next several years. Long-distance calling remains a critical part of every corporate strategy, and VoIP will continue to support that business objective as the market grows and matures.
