Market Research Future (MRFR) conducted a recent research report about the growth of the global mobile VoIP market. It also indicated that this specific market will reach $58.21 billion by 2025 at the compound annual growth rate of 12.2 percent. In addition, the international mobile VoIP market is driven by a great penetration of the smartphones and internet. Similarly, BYOD and its increasing trend enhanced the market penetration as well. Furthermore, seamless communication and lower call rates are rapidly growing, which is also going to impact the mobile VoIP market. The global VoIP market also experienced rapid growth over the last two decades. It only going to increase with the continual technological enhancement and business adoption.
Market Drivers
Mobile VoIP is a low-cost and simple method of communication through mobile devices like tablets and smartphones. In addition, mobile VoIP works well with 4G, mobile devices, or many more internet services. The transmission of the digital data through VoIP is rather faster as it divides the data into packets, where each part travels through a fast route. Furthermore, the users also gain low charges for inbound calls, unlimited messaging, no roaming charges, and other such benefits.
Users access the services of mobile VoIP by the installation of the software. Furthermore, it is beneficial for consumers as well as businesses in various industry verticals. With the help of such services, companies increase the general communication efficiency while saving money as well. The availability of these applications exists for various operating systems, for instance, widows, iOS, and Android. Every sized company is continuously on the lookout for VoIP solutions that help in tackling different IT difficulties.
Expansion of Services
There are various mobile VoIP providers that offer services to businesses and customers. Such offerings are also being expanded to render their customers with Over the Top (OTT) applications. These OTT services and apps include Voxox, Viber, and WhatsApp that assist customers to communicate via call, text, video, and share files with ease. In addition, the expansion of services also entails value-added features, for instance, scheduled re-type messages, which help users in scheduling their texts.
Some providers offer additional features that enable the users to lock and unlock hidden chat and hide chat using various methods. These methods include the usage of fingerprints or passwords. Furthermore, the respective feature is particularly beneficial for organizational communication, as it avoids unauthorized access to sensitive or private content. For instance, Viber offers value-added services. In addition, other value-added services include the support of multiple languages, removal of spam messages while messaging, file compression, and many others.
Smart VoIP Assistants
During the past few years, there is a rise in virtual assistants. eMarketer conducted a study in 2019, which showed that 39.4 percent of internet users utilize voice assistants on a monthly basis. In addition, around 111.8 million people utilize Google’s Ok Google, Amazon’s Alexa, and Apple’s Siri to surf the web. During the ever-changing situation of the pandemic, there is an increase of 7 percent in voice assistant usage. Moreover, the continuous advancement in language processing resulted in smarter virtual assistants. Such smarter virtual assistants better respond to rather complex questions from users. Although such a technology is not restricted to just making internet queries easy and fast.
Furthermore, the smarter VoIP assistants can impact a VoIP system in a beneficial manner. Such as, virtual assistants help the company automate the most mundane processes. These ordinary procedures include sending calls straight to voicemail or routing calls to agents. With such processes, a company does not require to forward general questions to agents as the virtual assistant is ever-present to answer them. Consequently, these virtual assistants are powered by AI. Also, it also has the ability to gather information about the customers. Overall, it records all prior interactions automatically, so it is easy for the employees to answer calls where the other employee has left. As a result, employees are able to offer a personalized service to the clients. Similarly, virtual assistants are another extension of AI, which is helpful in countering customer requests in real-time.
Growth of UCaaS
The modern communication infrastructure is cloud-based and its future also lies there. Through internet accessibility, cloud phone systems are generally a cost-effective option for companies than sustaining in-house networks. Hence, it is predicted that UCaaS is going to hit $24.8 billion by 2024.
With the UCaaS, it is easy for companies to focus on critical business operations. In addition, companies attain quick access to their audio and video communication, and to the data through any internet-based device. Furthermore, cloud-based platforms of unified communication are less probable to become obsolete faster. Such platforms are increasingly scalable as providers update them on a regular basis. As everything is kept in the cloud, so it makes the business continuity quite easy. The pandemic has also forced most companies to shift their in-house PBX systems to the cloud.
Mobile Unified Communications
Mobility is transforming the way most humans fulfill their communication needs on a daily basis. In this age of digital transformation, phones are not used for only texting and calling. Such devices include mobile phones that enable people to check the feeds of social media, send instant messages, and or buy anything from their homes.
In regards to business, mobility offers the latest opportunities for enhancing productivity and efficiency. In addition, it also enables teams to stay in touch with one another in a convenient manner. Furthermore, it helps the employees to accommodate customers rather quickly. These types of mobile communication solutions bring a level of flexibility during the Covid-19 pandemic. While most of the agents are forced to work remotely from home.
As a consequence, most organizations see mobility as an element in prospering in the respective industries. Whereas, another report declared that every 7 in 10 companies mention mobility as a priority because it helps in gaining a competitive advantage. This research also disclosed that international spending on all the solutions of mobility is projected to hit around $1.8 trillion by the end of next year. Such demands for mobile solutions also indicate that the mobile VoIP market is going to reach $183 billion by the end of 2027.
Most of the mobility solutions are invested in VoIP systems. Although, the telecommunication industry is also one of the leading users of the evolving Internet of Things (IoT) technologies. As a whole, IoT assists in reaching out for further innovative solutions to gain a competitive advantage in the market. In addition, various VoIP providers also render the support systems of the embedded app. So, it is expected that more companies are likely to take advantage of the mobile setup. Therefore, most professionals will quickly assume and approve app-based virtual numbers for team meetings, conferencing, and business calls. Prior to using VoIP to record meetings, one shall observe the way other organizations are using the same technology. However, it is better to check and evaluate the recent trends in IoT, UCaaS, smart VoIP assistants, and other such inclinations.
