VoIP Market in the UK to Grow by USD 4.3 Billion from 2024-2028, Driven by Rising Mobile Device Use and AI-Redefined Market Landscape - Technavio

NEW YORK, Nov. 6, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global VOIP market in UK  size is estimated to grow by USD 4.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.3% during the forecast period. Increasing number of mobile computing devices is driving market growth, with a trend towards emerging use of voip assistants. However, signaling issues  poses a challenge.Key market players include 3CX, Ascom Holding AG, Avaya LLC, Berry Telecom Ltd., BT Group Plc, Bueno Technologies Inc., Cisco Systems Inc., Exponential-e Ltd., Focus Group, iHub, Microsoft Corp., Mitel Networks Corp., NEC Corp., Panasonic Holdings Corp., Plantronics Inc., Pragma Group, sipgate GmbH, Toshiba Corp., Vonage Holdings Corp., and Yealink Network Technology Co. Ltd.

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Key Market Trends Fueling Growth

The UK market for Voice Over IP (VoIP) technology is experiencing significant growth due to the increasing popularity of voice assistants. Consumers are widely adopting AI systems like Alexa, Siri, and Google Assistant for web searches, product orders, and other tasks. VoIP assistants, such as Dialpad's Voice Intelligence features, offer added benefits like recording and transcribing meetings, resulting in time and cost savings. These virtual assistants are becoming increasingly effective, handling more complex queries and automating routine tasks. The convenience and efficiency offered by VoIP assistants make them an essential tool for businesses and individuals alike, driving the growth of the VoIP market in the UK. 

VoIP, or Voice Over Internet Protocol, is a communication technology that allows voice and video calls to be made over the internet instead of traditional telephone lines. This trend is revolutionizing IT and Telecom industries, transforming Media and Entertainment, Retail and E-commerce sectors, and more. Web-based apps, domestic VoIP services, and flexible communication tools are increasingly popular. Devices like computers, smartphones, and tablets support VoIP, enabling instant messaging, file sharing, video conferencing, and computer-to-computer VoIP. 5G networks and mobile data plans are driving the growth of VoIP, making communication more economical and efficient. VoIP's flexibility is ideal for remote work and communication solutions. Cloud-based services, artificial intelligence, customer service, and 5G technology are enhancing VoIP's capabilities. With increasing internet access and mobile penetration, VoIP is becoming an essential communication tool for businesses worldwide. 

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Market Challenges

• VoIP market growth may be hindered due to signaling challenges. H.323 and SIP are prominent signaling protocols, offering similar functionalities. However, they lack Quality of Service (QoS) guarantees and resource reservation. VoIP applications maintain active sessions with keep-alive messages, leading to significant signaling loads. Volte services require extra signaling for dedicated channels, escalating data transactions and signaling loads. These signaling issues could impede market expansion during the forecast period.
• The VoIP market is experiencing significant growth due to the increasing use of smartphones, tablets, and VoIP phones for communication. Instant messaging, file sharing, video conferencing, and computer-to-computer VoIP have become essential tools for businesses. However, the rise of these services presents challenges such as mobile data plans and 5G networks becoming crucial for seamless communication. Communication solutions, including cloud-based services, are becoming the norm for remote work and flexible communication. Artificial intelligence and customer service are also key areas of focus. 5G technology, internet access, and mobile penetration are driving the demand for voice multimedia and virtual communication services. Homogeneity between analog phone communication and IP telephony, broadband telephony, and internet telephony is essential for the telecommunications services market. Travel and tourism industries are also benefiting from cloud-based infrastructures and virtual communication services.

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Segment Overview 

This voip market in UK report extensively covers market segmentation by

1. Type 
• 1.1 International VoIP calls
• 1.2 Domestic VoIP calls
2. Method 
• 2.1 Computer to phone
• 2.2 Computer to computer
• 2.3 Phone to phone
3. Geography 
• 3.1 Europe

1.1 International VoIP calls-  The VoIP market has experienced significant growth in recent years, with businesses increasingly adopting this technology for cost-effective and flexible communication solutions. VoIP allows companies to make and receive calls over the internet, reducing the need for traditional landlines. This innovation enables businesses to communicate with clients and colleagues from anywhere in the world, enhancing productivity and global connectivity. VoIP also offers additional features such as call forwarding, voicemail, and conference calling, making it a valuable investment for businesses of all sizes.

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Research Analysis

The Voip market refers to the growing trend of using Voice multimedia over Internet networks for communication. This digitized transmission of voice calls and video calls is also known as IP telephony, broadband telephony, or Internet telephony. The market for telecommunications services is shifting towards cloud-based infrastructures and virtual communication services, offering homogeneity in communication across devices such as computers and smartphones. Analog phone communication is being replaced by flexible and economical Voip solutions. Communication technologies like Voip enable efficient communication for remote work and offer flexible communication tools. Artificial intelligence is being integrated into Voip services to enhance customer experience. 5G technology and improved Internet access are expected to further boost the growth of the Voip market. With the increasing popularity of cloud-based services, Voip is set to revolutionize the way we communicate. Whether it's for making voice calls or video calls, Voip offers a more efficient and cost-effective solution for communication needs.

Market Research Overview

The Voip market refers to the growing industry of Voice multimedia communication over Internet networks. This digitized transmission of voice and multimedia content is made possible through IP telephony, broadband telephony, and Internet telephony. The market for telecommunications services is experiencing a significant shift towards cloud-based infrastructures and virtual communication services. Homogeneity between devices such as computers, smartphones, tablets, and VoIP phones is driving the demand for flexible and economical communication solutions. Industries like travel and tourism, IT and Telecom, Media and entertainment, Retail and e-commerce, and Web-based apps are increasingly relying on VoIP services for communication efficiency. Voice calls, video calls, instant messaging, file sharing, video conferencing, and computer-to-computer VoIP are becoming essential tools for businesses and individuals. The rise of mobile data plans, 5G networks, and communication solutions like artificial intelligence, customer service, and cloud-based services are further expanding the reach and capabilities of VoIP. With the increasing penetration of mobile devices and 5G technology, Internet access is becoming more ubiquitous, making VoIP an indispensable part of modern communication.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• International VoIP Calls
• Domestic VoIP Calls
• Method
• Computer To Phone
• Computer To Computer
• Phone To Phone
• Geography
• Europe

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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