IP Telephony Market Is Likely To Surge At An 8.3% CAGR By 2032

In 2021, the market for IP telephony was estimated to be worth US$ 29.5 billion, and by 2022, it is expected to be worth US$ 49.4 billion.

Demand is anticipated to increase between 2022 and 2032 at a value CAGR of 8.3%, potentially reaching US$ 109.6 billion by the conclusion of the assessment period.

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One of the business world’s fastest expanding businesses is IP telephony, which is more profitable and more accessible. Various corporate corporations are increasingly using IP telephony solutions. The adoption of IP telephony is also influenced by better technology’s simplicity of use and greater productivity.

Cloud telephony services offer many advantages, including cost efficiency, an appealing user interface, corporate call tracking, call reporting, a simple and rapid setup process, and network security. Owing to these advantages, businesses are implementing IP telephony services, which is fueling market expansion throughout the projection period. The global IP telephony market is anticipated to expand 2.2 times between 2022 and 2032.

Key IP Telephony market Players

• Avaya Inc.
• Cisco
• Gigaset
• LG
• Mitel

Key Segments Covered :

• IP Telephony by Component :
  • Hardware Based
    • IP Desktop Phones
    • Audio Conference Phones
    • DECT Phones
  • Softphones
  • Service
    • Maintenance
    • Installation
    • Consultant
    • Other
• IP Telephony by End Use :
  • IP Telephony for BSFI
  • IP Telephony for Healthcare
  • IP Telephony for Retail
  • IP Telephony for Government Organisations
  • IP Telephony for Other End Use Industries
• IP Telephony by Region :
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

Key Questions Covered in the IP Telephony Market Report

• How key market players in the IP Telephony market are maintaining their competitive advantage in the wake of globalization?
• What changing market dynamics in the IP Telephony market specify about the future opportunities for manufacturers?
• How Covid-19 pandemic affected sales in the IP Telephony market and what strategies are expected to recover from its impact?
• What business tactics are gaining attention and influencing IP Telephony market rivalry?

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The most cost-effective alternatives for business telephones are provided by IP telephony systems. Also, the IP telephony technology offers better ways to communicate. Owing to these characteristics and its fast expanding use in the corporate sector, the worldwide IP telephony market is predicted to expand in the upcoming year. The IP telephone is favoured in the corporate sphere in many nations throughout the world due to its low cost.

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