The global IP Telephony market is expected to grow at a significant CAGR during the forecast period (2024-2031). Internet Protocol Telephony (IP telephony) is the abbreviation for Internet Protocol Telephony. IP telephony is a method and set of technologies for delivering voice and multimedia communications via Internet Protocol (IP) networks, such as the internet. Broadband phone service, internet telephony, and broadband telephony all refer to the provisioning of communications services (voice, fax, SMS, and voice-messaging) through the public internet, as opposed to the public switched telephone network (PSTN), sometimes known as plain old phone service (POTS).
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IP telephony is becoming more popular as a result of new features such as high-tech technology, contact centres, voice mail, and call routing. These benefits are among the key aspects projected to propel the global IP telephony industry forward. IP telephony systems are more portable than traditional phone systems and offer easier data transfer over the network with the help of application and hardware support. Furthermore, organisations have adopted IP telephony for communication reasons due to its ease of use, lower cost, improved technology and increased productivity.
In the following years, the increasing IP telephony industry is predicted to provide numerous prospects for corporations and industrialists to expand their businesses or organisations. Furthermore, components of other technologies such as DHCP, SIP, TCP/IP, DNS, and others are projected to be in high demand in the future. The demand for desktop IP from the General Data Protection Regulation (GDPR) can, however, be a challenge for the global market. The cost-effectiveness of IP telephony is a primary element propelling the global IP telephony market forward. Furthermore, due to increased rivalry among internet service providers and telecommunication service providers in the industrial sector, the global IP phones market is growing.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Ascom Holding AG, Avaya Inc., Cisco Systems, Inc., Gigaset AG, LG Electronics Inc. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global IP Telephony Market by Segment
By Component Type
- Hardware Based
- IP Desktop Phones
- Audio Conference Phones
- DECT Phones
- Softphones
By Industry Vertical
- BFSI
- Retail
- Government
- Healthcare
- Others
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