increasing number of mobile computing devices is driving the VoIP Market in UK
Technavio analyzes that the VoIP Market in UK is expected to grow at a CAGR of 8.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4.3 billion.There are various factors that contribute to the growth of the market.ai_driver_list1
The VoIP market in the UK is experiencing significant growth due to the availability of high-quality IP calling features at competitive prices. With an average cost of USD12.5 per user/month for international VoIP calls, this technology offers substantial cost savings compared to traditional carrier rates. Consequently, businesses and individuals alike have been increasingly adopting VoIP services for voice and video calls. Notable VoIP providers in the UK include Ring Central, Vonage, 8x8, Skype for Business, and Mitel. Currently, VoIP services account for over 50% of all international telephone traffic, and the proliferation of mobile phones in emerging markets is further fueling growth. The UK's high VoIP penetration rate is attributed to its large expatriate population utilizing these services to communicate with loved ones abroad.
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VoIP Market in UK Segmentation
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The VoIP market in the UK is experiencing significant growth, driven by the adoption of voice multimedia communication technologies. This shift from traditional analog phone communication to digitized transmission via Internet networks enables flexible and economical solutions like IP telephony, broadband telephony, and internet telephony. Cloud-based infrastructures and virtual communication services offer homogeneity, allowing devices such as computers and smartphones to make voice and video calls using digital signals. The telecommunications services market benefits from this trend, providing communication efficiency, remote work capabilities, and flexible communication tools. Advanced technologies like artificial intelligence, customer service, 5G technology, and internet access further enhance the value proposition.
The VoIP market in the UK is a significant segment of the global communications equipment market, which encompasses manufacturers of voice multimedia and telecommunications infrastructure. According to Technavio, this market is driven by the expansion of internet networks and the shift towards digitized transmission through IP telephony, broadband telephony, and internet telephony. Notably, the growth of this market is fueled by the increasing number of data centers, particularly among hyperscalers, necessitating substantial investments in advanced communication infrastructure. The communications equipment market size, which includes revenue from sales of communication, broadcasting, and telecommunication equipment, as well as service providers' infrastructure improvements, is expected to experience robust expansion due to these factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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