Mobile VoIP Market Outlook 2031
The Global Mobile VoIP Market size was valued at USD 26.5 Billion in 2022 and is likely to reach USD 74.68 Billion by 2031, expanding at a CAGR of 12.2% during the forecast period, 2023–2031. The growth of the market is attributed to the growing adoption of VoIP plans owing to their cost-effectiveness, security, and integrated features.
Integration of Mobile VoIP turns the device into a standard SIP client, which uses the data network to send and receive SIP messaging. Several technologies allow mobile handsets to integrate a VoIP network. Mobile VoIP is being significantly used by both individual consumers and enterprises.
It provides effective communication with the help of the Internet, allowing enterprises and manufacturers to seamlessly use the services for communication.
Smartphone manufacturers are developing devices that are compatible with VoIP services. VoIP phone system is designed to transfer voice traffic through the internet connection. Whereas, internet protocol telephony technology transfers voice, fax, messaging, and other data traffic.
The Impact of Artificial Intelligence in The Mobile VoIP Market
The mobile VoIP market is impacted by AI owing to the rapid expansion of AI-enabled features in the industries. With the integration of AI, VoIP is becoming more innovative due to features including more accurate voice commands and enhanced security.
AI helps in simplifying and understanding spoken language with reliability and accuracy. This has resulted in a more user-friendly voice communication process that is accessible for business communications.
Furthermore, chatbots help in providing efficient customer support by offering solutions accurately. Research reveals that AI is expected to power 95% of all VoIP customer interactions by 2025. Businesses are integrating AI into their VoIP systems allowing them to save costs which is expected to increase the demand for VoIP solutions in the market.
The market report finds that the COVID-19 pandemic has boosted the demand for VoIP services as restrictions imposed by the Government. The job-centric people started working from home which has led to the rapid adoption of VoIP services as they are cost-effective and convenient alternatives for communication.
According to Pew Research Centre 2020, 71% of employees stated that they are working from home most of the time which led to the adoption of VoIP services. Thus, the pandemic had a positive impact on the market.
Mobile VoIP Market Dynamics
Major Drivers
Rising adoption of VoIP services in cell phones is expected to drive the market during the forecast period. VoIP service plans are designed in a way that makes it a very usable service for businesses and regular users. It is estimated that a business's average savings from VoIP plans are 50% to 75%. The VoIP services allow users to make calls owing to their cost-effective plan options.
Moreover, developments in the security options of VoIP services are expected to boost the market in the coming years. VoIP services allow users to check their call logs in real-time, thus there’s always a chance of catching any kind of theft activities.
It further allows users to protect their phone calls with cybersecurity features. Risk assessment, access control, and managed SIEM are some features of the security in VoIP service plans that help to secure business calls.
Existing Restraints
High dependency on internet connection is expected to restrain the market. VoIP services rely on internet connections hence if there is a connection loss the phone line is expected to go down as well. This is expected to restrain the market. Furthermore, the quality of VoIP routers is sometimes not as good as standard phone connections. The common issues found are call delays, echo, and others.
Emerging Opportunities
Growing commercialization of 5G technology is increasing the use of VoIP networks across the globe. Growing commercialization of 5G technology is expected to create lucrative opportunities for the market. The integration of 5G in VoIP is expected to enhance the business opportunities in the market as it improves employee productivity.
The cloud phone system offered by 5G is expected to benefit businesses as it helps to flip calls faster. Cloud phone system in 5G helps to flip important office calls to the office, while users are not able to pick up calls due to any reason. The use of VoIP in 5G allows businesses to connect their devices to a single network which helps in managing energy and other resources efficiently.
Scope of Mobile VoIP Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mobile VoIP Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Service (Instant Messaging and Video & Voice Call), and Platform (Android OS and iOS)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Microsoft Inc.; Facebook Inc.; Apple Inc.; Google Inc.; Kakao Corp.; One Horizon Group Inc.; RingCentral, Inc.; Nextiva; Vonage America, LLC; and Podium Corp Inc.
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Mobile VoIP Market Segment Insights
Service Segment Analysis
On the basis of service, the market is divided into instant messaging and video and voice calls. The instant messaging segment accounted for a CAGR of around 20% during the forecast period. The availability of various applications that facilitate instant messaging has proliferated the growth of the market.
VoIP services allow users to send messages from computers to cell phones instantly with the help of the internet. Messaging with VoIP saves time up to 43 minutes daily, thus contributing to the segment growth.
The video and voice call segment is expected to account for a large market, owing to the emergence of 5G technology across the globe. The integration of 5G services has encouraged community vendors to increase the functionality of applications that include voice and video calls.
It is estimated that VoIP saves nearly 90% on international calls to startups and businesses. Various instant messaging applications are integrating video and voice calling functionalities that are driving the growth of the market segment.
- For instance, in May 2023, Sinch a VoIP and app-to-app calling platform announced the expansion of high-quality direct connections by offering IP Connect internet protocol connectivity between service providers globally. IP Connect provides a direct connection between the originating and terminating provider's networks to complete two-way calls with consistent feature functionality.
Platform Segment Analysis
Based on platform, the market is divided into Android OS and iOS. The Android OS is anticipated to account for a significant market share during the forecast period. Growing penetration of Android-based devices, owing to the availability of affordable smartphones and devices that have functionalities such as augmented reality (AR) and holographic displays is positively influencing the segment growth.
In contrast to iOS and Windows, Android powers extensively used devices, such as One Plus, Samsung, Vivo, and Motorola, which is boosting the Android OS segment growth. On the other hand, manufacturers are working on the development of OS to provide distinct experiences to the users.
The iOS is expected to expand at a high CAGR in the coming years, owing to the growing consumer preference for Apple products. Moreover, the growing focus of Apple to increase the number of iOS applications is driving the segment growth.
Mobile VoIP Market Regional Analysis
In terms of region, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to grow at a robust rate, owing to the rising number of subscribers in emerging economies such as India and China.
Increasing investment in the deployment of high-speed Internet and the broader availability of instant messaging applications are driving the regional market growth.
North America accounted for a major market share and is projected to expand at a substantial CAGR during the forecast period. The early adoption of advanced cellular technologies owing to the presence of major telecom players is spurring the growth of the market in this region.
Segments
Service
- Instant Messaging
- Video and Voice Call
Platform
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Microsoft Inc.
- Facebook Inc.
- Apple Inc.
- Google Inc.
- Kakao Corp.
- One Horizon Group Inc.
- RingCentral, Inc.
- Nextiva
- Vonage America, LLC
- Podium Corp Inc.
Competitive Landscape
Major players in the mobile VoIP market are Microsoft Inc.; Facebook Inc.; Vonage Holdings Corporation; Apple Inc.; Google Inc.; Kakao Corporation; and One Horizon Group Inc.Companies are engaging in strategies such as acquisitions, partnerships, collaborations, and mergers to leverage their market position.
Moreover, the companies are focusing on expanding their product portfolio to expand their market share.
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