Mobile VOIP Market is expected to Reach USD 59.3 billion by 2030

MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Mobile VOIP Market.

Overview

The Global Mobile VOIP Market is expected to reach USD 59.3 Billion by 2030, registering a CAGR of 12.20% during the forecast period 2019–2025. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.

Growing need to have a cost-effective and smooth communication is the key driver for mobile VOIP market. Additionally, increasing ownership of smartphones and growing internet reach around the globe is also an important factor for the growth of mobile VOIP. Mobile VOIP offers easy and smooth communication via internet network over mobile devices. Mobile VOIP is being significantly used by not only individual consumers but also by enterprises. Enterprises across various industry verticals including BFSI, retail, and manufacturing among others have been using mobile VOIP for business communication. This trend gained momentum after bring-your-own-device became common among enterprises. With the significant demand for mobile VOIP services among enterprises, providers of mobile VOIP services have started offering several value-added features with their apps. These features include file sharing, managing spam messages while messaging and hiding and locking sensitive messages. Adding these features to mobile VOIP apps has led to increased usage of VOIP services among enterprises of all sizes.

The mobile VOIP market is fragmented with a number of large- and mid-size players offering VOIP services to the end-user. These providers spend a significant amount in research and development in order to understand the user requirements so that they can develop and update features in their app. For instance, in February 2019, Viber launched a new version of its mobile application on Android as well as iOS. The new version has an updated user interface, with a variety of other features. Due to growing competition in the market, these players have to create and launch updated versions of their apps with more features so that they can gain and retain more customers.

Segmental Analysis

The Global Mobile VOIP Market has been segmented on the basis of Type, Service Type, Organization Size, Vertical and Region.

Based on service type, the mobile VOIP market has been segmented into voice, video, and instant messaging. The voice service segment accounted for the largest share in the year 2018. However, the video service segment is expected to grow at the highest CAGR. Voice service is being increasingly used by both individual customers as well as enterprises, which is increasing the demand for this segment.

Based on OS type, the market has been segmented into Android, iOS, Windows, and others. Android OS type occupied the largest share in the market. More than 90% of the population around the globe use Android OS system and therefore the share of Android OS is much higher than other operating systems.

Based on user type, the mobile VOIP market has been divided into enterprises and individuals. The enterprises sub-segment is expected to have the larger CAGR during the forecast period. The reason for higher CAGR growth is due to the adoption of BYOD trend by a number of enterprises across the globe as well as use of VOIP services for official communication and meetings.    

Competitive Analysis

The prominent players operating in the mobile VOIP market are 3CX, Vonage, Microsoft Corporation, Facebook Inc., Rebtel, CommPeak Limited, 8x8, Inc., Nextiva, Phone Power, Tata Communications, VoIP Office, RingCentral, Inc., and Junction Networks

Regional Analysis

The regional analysis for the global mobile VOIP has been done for North America, Europe, Asia-Pacific (APAC), and the Middle East & Africa, and South America.

North America accounted for the largest market share in 2018; it is expected to register strong growth during the forecast period. The key driving factors for the growth of the mobile VOIP market in the region include the growing need for cost-effective and seamless communication among enterprises of all sizes

The market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. In the research scope, Asia-Pacific has been categorized into China, Japan, India, and the rest of Asia-Pacific. Significant growth in the region can be attributed to growth in a number of enterprises and their need to effectively communicate inside and outside of the company’s premise.