The global VoIP services market is projected to amass creditable gains in the years to come, on account of cost-effective communication services and rapid penetration of the internet. Over the last decade, VoIP services have taken over the fixed-voice market, given their low pricing and astounding functions that have bolstered competition for traditional service providers. The slew of functionalities supported by VoIP technology, such as voice calling, instant messaging, and video calling, have substantially enhanced voice over internet protocol (VoIP) market share from healthcare, IT & telecom, BFSI, retail, education, government & public sector, hospitality, and other industries.
Other factors stimulating the development of VoIP services industry include the deployment of 4G and 3G networks, advancement of network infrastructure, pricing policy, and ease of VOIP deployment and configuration. Although the telecommunication infrastructure in many nations is still not capable of supporting VoIP technology, VoIP services market is slated to record hefty proceeds from various developed nations and developing nations. As per estimates in fact, North America is anticipated to lead VoIP industry by 2025, with a projected share of 20% in the market.
Some of the leading VoIP service providers include Citrix, Cisco, AT&T, Alcatel Lucent, Microsoft, Deutsche Telekom, Jive Communication, Mitel, Avaya, 8×8, Vonage, Verizon, RingCentral, Nextiva, Telenor, Orange, Huawei, Google, and Ribbon Communication. Following is a brief overview of the business tactics adopted by these behemoths to amplify their revenues, user base, and geographical reach in VoIP service market.
Microsoft: VoIP-enabled users in Microsoft Teams can now use voicemail capabilities
In a recent instance, Microsoft has declared a new feature for the users of Microsoft teams. In the new feature, users with active VoIP services can use Microsoft’s voicemail services. They can send and receive voice mails to web clients and Teams desktop. Users will be able to see the voicemail tab in their calls application in the app bar.
The new voicemail function is on by default and can be deactivated through administrator action. The launch clearly portrays that VoIP services market, in the future is in for similar such advancements gaining mass popularity.
AT&T: Customers can now pay bills through cryptocurrency
Though cryptocurrency is at a nascent stage, the world’s leading businesses are not hesitating in embracing the same. Recently, telecom giant AT&T has become the first carrier company in the United States to accept payments via Bitcoin. AT&T has lately struck a business deal with Bitpay to adapt its business with the increasingly popular trend of digital currency transactions.
Under the deal, the telecom mammoth’s customers will be able to clear their pending bills using bitcoin money. The convenience of cryptocurrency payments and their robust adoption are thus slated to augment VoIP services market size in the years ahead.
Citrix: Citrix workspaces will now be available on Google Cloud
As businesses move more applications to the cloud, they require a secure and easy way to access them from anywhere, anytime, and on any device. In a premier digital work conference, Citrix Systems, a leading VOIP service provider, has reportedly publicized that it will be extending Citrix Workspace to the Google Cloud, in a bid to enhance the flexibility and choices enterprises have in transitioning to the cloud, by allowing them to efficiently and quickly deliver apps to operating systems and Google devices.
Extending Citrix Workspace to Google Cloud will allow companies to modernize their applications and deliver unified access across operating systems and Google devices to create a productivity powerhouse.
In the coming years, it will be interesting to see how these business tactics transform the revenue matrix of VoIP services industry. According to a report by Global Market Insights, Inc., the overall voice over internet protocol market is poised to surpass a valuation of USD 55 billion by 2025.