4 min
According to Research and Markets, the global mobile VoIP market size is expected to reach $165.3 billion by 2028, with a compound annual growth rate (CAGR) of 19.5% during the forecast period.
Voice over Mobile Internet Protocol (VoIP), commonly known as Mobile VoIP (or mVoIP), is a convenient and affordable way to communicate using mobile devices such as smartphones and tablets.
Using GSM, 3G, 4G or any other Internet service on smartphones helps mobile VoIP users to interact effectively. Whether calling, chatting or participating in videoconferences, users can save costs by using mobile VoIP.
Also, due to the fact that digital data is separated into packets and each packet takes the shortest path, VoIP allows faster transmission of digital data. Among other benefits, mobile VoIP customers can take advantage of free roaming, unlimited text messages and affordable incoming call rates. By installing the mobile VoIP software, users have access to mVoIP services.
What Is VoIP?
VoIP, often referred to as IP telephony, is a technique and set of technologies for delivering voice conversations and multimedia presentations over IP networks, including the Internet. The provision of communications services such as voice, fax, SMS, and voice messaging over the Internet, as opposed to the Public Switched Telephone Network (PSTN), generally known as Plain Telephone Service (POTS acronym in English), is explicitly called broadband telephony.
Some other names for this service are Internet telephony and broadband telephone service. Mobile device users can use Mobile VoIP through their phone’s built-in dialer or a third-party application they have downloaded. As more and more customers choose to make calls using their smartphones or mobile devices, the technology has proven beneficial to many businesses and individuals and is growing in popularity.
Impact Analysis of COVID-19
The pandemic has increased the number of people working from home, which has increased the need for mobile VoIP services. These services have also gained popularity as more businesses seek affordable communication alternatives. The pandemic, in general, increased the demand for digital dependency, and this result is likely to hold as the utility of the abundance of data and the decrease in transaction fees for using it affect the way in which entrepreneurs, legislators and professionals make adjustments. Furthermore, the pandemic is only one factor influencing current patterns. Other important factors are social well-being, sustained economic growth, demographic changes, and climate responsibility.
Market Growth Factors
1) Growth in the Use of Smart Devices and Strong Internet Connectivity
The market is expanding as a result of the increased need for mobile VoIP services among businesses looking to replace aging network services and provide higher-bandwidth communication networks across industries. Furthermore, a web-enabled ecosystem has developed as a result of the adoption of smart technologies in all smart devices. High-speed Internet is also encouraging consumers to purchase smart and connected items, and mobile VoIP services are being further stimulated by the widespread use of high-speed network architectures and falling data rates. Therefore, as the demand for connected devices increases, it will drive the expansion of Internet requirements and thus significantly help drive the growth of the mobile VoIP market.
2) Greater Adoption of Innovative and Easy-To-Use Applications
The rise in popularity of innovative and easy-to-use programs like WhatsApp, which enhance the utility of smartphones in terms of connectivity and communication, is increasing the growing demand for mobile VoIP services. Also, as communication technology has advanced, there is a greater demand for creative applications in the e-commerce sector. As a result, more people are choosing to shop online and the market is expanding due to a large number of users.
3) Operating System Perspective
Based on the operating system, the mobile VoIP market is categorised into Android and iOS. The Android segment had the highest revenue share in the mobile VoIP market in 2021. The increased demand for smartphones with better features like augmented reality, holographic displays, and flexible displays is responsible for this growth. Although these devices are becoming more and more popular, manufacturers continually differentiate themselves by creating user interface skins to give users a unique mobile look and feel.
Regional Overview
Due to its extensive Internet penetration, North America is anticipated to play a significant role in the mobile VoIP market. In addition, the use of instant messaging applications is expected to increase the demand for the service in the region. Similarly, the region’s business and education sectors are expected to advance technologically as the VoIP industry matures.
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