Managed Voice over IP (VoIP) is a voice solution that offers cost-effective international calling over the internet and scalable, robust VoIP technology that offers high quality voice services to off-net and on-net locations. The managed VoIP service uses cloud-based hosting, thus excluding the traditional PBX hardware. This also allows the phone system to continue to grow with the company. Moreover, calls can be received over the Internet, which means that one can accept calls at the desk, from a mobile device, or at home. Noteworthy growth in managed VoIP services can be credited to the growing use of advanced portable devices such as tablets and phablets,. With smartphones substituting computers, companies are concentrating on developing managed VoIP software that can assimilate with a certain mobile-specific application and software.
The growing trend of bring your own devices (BYOD) is one of the key reasons impacting the development of the global VoIP services market in a positive way. Increasing demand for flexibility in trades is a crucial reason for the development of the global managed Voice over Internet Protocol services market. The managed VoIP services market is anticipated to benefit from a growing number of customers choosing voice services and cost-effective bundled data for mobile devices.
They are increasingly being used by consumers across the globe as Voice over Internet Protocol services allows customers to enjoy free voice communication at cost-effective prices. This is one of the key factors anticipated to drive the managed VoIP services market during the forecast period. In addition, technological developments have also brought about big bandwidth which in turn allows efficient and effective telephony over the internet. Phone systems have been transformed by the development of managed VoIP services and this change is anticipated to boost the managed VoIP service market during the forecast period.
The global managed VoIP services market can be segmented based on configuration, call type, enterprise size, end-user, and geography. Based on configuration, the Managed Voice over IP (VoIP) market can be segmented into computer to phone, computer to computer, and phone to phone. On the basis of call type, the market can be divided into International VoIP calls and national VoIP calls. In terms of enterprise size, the market can be categorized into small and medium enterprises and large enterprises. Based on end-user, the managed VoIP services market can be divided into individual and enterprises. Enterprises can be further segmented into banking, financial services and insurance, healthcare, retail, government, transportation & logistics, hospitality, and others.
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Based on geography, the global managed VoIP services market can be segmented into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The managed VoIP services market in North America is expected to grow rapidly during the forecast period due to technological advancement and increasing usage of managed VoIP services among various industries. Asia Pacific is expected to be a lucrative market for managed VoIP services during the forecast period. This is mainly due to the rapid advancement of network infrastructure and growth in the implementation of 3G and 4G networks which is anticipated to drive the demand for managed VoIP services market.
Key players operating in the global managed VoIP services market are focused on offering solutions as per user requirements. They offer different technologies and upgrade and expansion of existing systems. Companies compete on factors such as product quality and price. The global managed VoIP services market is characterized by the existence of numerous key players such as Dynamic Network Support, NexusTek, Tata Communications, IPGenius Business Solutions, Vonage Holdings Corporation, West Corporation, Nextiva Inc., Verizon Communications Inc., Thinking Phone Networks, Inc. and ShoreTel.