VoIP Providers Market 2021 Current Trends and Future By businessict
The global VoIP (Voice Over Internet Protocol) industry has experienced exponential growth in the last decade. Due to continual technological improvements and commercial adoption, this trend shows no signs of slowing down anytime soon. However, the VoIP technology seems to be moving faster than ever because the global trends have shifted towards 5G adoption, UCaaS , and increased use of Artificial Intelligence (AI).
Today, VoIP has become a technology investment among many Australian organisations as it directly helps in primary business communications. So, it became imperative to follow current and future trends of VoIP to see if your organisation is taking advantage of this technology.
The Global VoIP Market Growth 2021 – Current Trends and Future
In today’s digital era, businesses voice communication has changed considerably. The way people interact with each other is no longer restricted to physical proximity or geographical constraints. In fact, businesses’ employees can connect at any time and from any location as long as they have an internet connection, making VoIP (Voice over IP) an increasingly popular form of conversation across the globe!
In 2019, the VoIP providers global market was $825 million and projected to grow by 3.1% during 2021-2026. However, the experts have predicted that it will reach up to $1024 million at the end of the year 2021.
Consequently, this report provides an accurate and deep study of the global trading scenarios of the VoIP providers market.
So, let’s dive into the VoIP best practices adopted by providers to grow business with recent technology trends.
- Artificial Intelligence for better customer support:
Artificial intelligence is predicted to be the next big thing in every industry, and the VoIP industry will not be an exception. AI within the VoIP system performs speech recognition, analyses call information, identifies relevant information about correspondents, and assists in preparing client responses. Besides this, AI helps improve employees’ performance and schedules events, meetings, and repetitive tasks.
- Integration of VoIP with IoT (Internet of Things):
The Internet of Things is bringing together tons of everyday devices to provide a better, smarter world. IoT devices use internet protocol to communicate and share information. VoIP is an essential part of IoT’s success and vice versa.
With the Internet of Things, VoIP services are capable of more than just regular phone calls. It is making an impact on traditional business phone networks by providing better functionality than ever before!
- Adoption of Unified Communication as a service (USaaC)
UCaas is a system that helps companies to reduce their VoIP infrastructure cost while increasing VoIP efficiency and effectiveness. In addition, it enables businesses to access the tool through a single application or service for better communication.
UCaaS offers lower upfront costs, flexibility in managing IT investments over time as well as better service levels, and more VoIP features which providers normally offer.
With united communication as a service, employees can focus more on business-critical functions and quickly access data, audio and video communications through any Internet-ready device.
- The emergence of Unified Mobile Communications
Mobility has created new opportunities for businesses in terms of productivity and efficiency optimisation. As a result, more companies see mobility as a key factor in their success.
VoIP systems are one of the most popular mobility solutions. The functionality of mobile VoIP systems has increased with the introduction of a 5G internet connection. As this VoIP system provides application support systems, as a result, more and more companies will take benefit from this configuration. On top of this, employees can use virtual numbers for business calls, meetings and conferences.
The Impact of Covid-19 on VoIP Providers Market and Customers
The coronavirus has had a huge impact on the global economic landscape (including Australian) and, as a result, on the line of businesses.
Many businesses imposed a lockdown strategy to avoid spreading this contagious disease to their staffs, and people are forced to work from home. As a result, there has been a sudden surge in demand for cloud-based phone services globally. Hence, VoIP Industry has become one of the less affected industries by the pandemic.
Let’s see the positive impacts of Covid-19 on VoIP customers.
Work on the go: The VoIP phone system supports integration with smartphones, which lets individuals stay connected to their phones to attend calls, hold meetings, perform tasks, and more.
Better reliability: VoIP technology is a great way to streamline the business communication process by improving the quality and reliability of voice calls. Plus, most providers choose VoIP best practices to provide strong uptime percentages so that phone lines won’t go down if there’s any unexpected outage.
Improves workforce productivity: VoIP platforms are structured to help workers get more done faster. VoIP enables instant communication so that your employees can make quick decisions and focus on projects without getting distracted from unnecessary stuff such as travelling.
VoIP could become the standard technology in commercial communications over the next few years. Modern technology such as 5G, UCaaS and AI will transform the market in a few years. An increasing number of companies has already started taking services from VoIP providers in Melbourne to explore new communication strategies.
Why choose Business ICT?
Business ICT is a leading VoIP provider in Melbourne, Australia. It helps businesses to deliver effective telecommunication services which can be tailored for any business size or industry. For more information, contact us today!