Mobile VoIP Market Set to Surge, Expected to Reach $327.5 Billion by 2031 | Facebook, Microsoft, Mitel Networks Corp.,

Mobile VoIP Market

Mobile VoIP Market

The rise in usage of smart devices and reliable high-speed internet usage across the globe is propelling the growth of the market.

PORTLAND, PORTLAND, OR, UNITED STATES, October 30, 2023 / -- According to a new report published by Allied Market Research, titled, “Mobile VoIP Market," The mobile voip market was valued at $49.23 billion in 2021, and is estimated to reach $327.5 billion by 2031, growing at a CAGR of 21.1% from 2022 to 2031.

Mobile VoIPs are a set of communications protocols that can extend VoIP communications to handheld devices. This is frequently used to facilitate audio conversations over WiFi or LTE networks at a lower cost than traditional telephones and without a wired connection. Moreover, VoIP telephone system utilizes Internet Protocol to make calls. Instead of using telephone lines, all communication data is turned into packets and sent over the IP network.

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An increase in penetration of smart devices along with high internet connectivity and surge in popularity of innovative and user-friendly applications boost the growth of the mobile VoIP market. In addition, the increase in advanced consumer electronics is positively impacting the growth of the mobile VoIP market. However, lack of awareness about mobile VoIP software and surge in security concerns hamper the mobile VoIP market growth. On the contrary, increase in adoption of cloud-based security application is expected to offer remunerative opportunities for the expansion of the mobile VoIP market during the forecast period.

Depending on operating system, the android segment holds the largest mobile VoIP market share, owing to rising need for smartphones with improved features such as augmented reality, flexible screens, and holographic displays. However, the iOS segment is expected to grow at the highest rate during the forecast period, owing to increased demand for luxury smartphones.

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By model, the premium model contributed to more than two-thirds of the global mobile VoIP market share in 2021, and is projected to rule the roost by 2031. The enterprise model segment would display the fastest CAGR of 23.2% throughout the forecast period owing to rise in adoption of enterprise model by various businesses to improve the productivity through effective routing based on skill set in developed and developing regions fuels the segment growth.

Region-wise, the mobile VoIP market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to technological advancements and the emergence of new business models. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the increased investment in the deployment of high-speed internet and the wider availability of free applications.

The key players profiled in the mobile VoIP market analysis are Cisco Systems, Inc, Microsoft Corporation, Citrix System, Inc, Rakuten, Facebook, Inc, Zoom Video Communications, Inc, Ribbon Communications Operating Company, Inc, 8x8, Inc, 3Cx, Mitel Networks Corp, Jive Software. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile VoIP industry.

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The report analyzes these key players in the global Mobile VoIP market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

Covid-19 scenario:

• The growing adoption of work-from-home culture across the developing nations and increase in penetration of mobile VoIP services across the employees, positively impacts the growth of the market. Lockdown had been imposed by governments all around the world to stop the virus from spreading owing to which the demand for mobile VoIP apps has surged to keep staff working remotely.

• The rise in usage of mobile VoIP apps in training and meetings has shown to be incredibly effective for many doctors and healthcare employees which positively impacts the growth of the market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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1. Mobile Mapping Market

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