Voice over Internet Protocol phone systems and video conferencing technology have driven the unified communications market to new heights, with several reports indicating that these industries will remain on a torrid path toward ubiquitous penetration. Businesses that have not yet considered modernizing their IT and communications infrastructures should do so soon, or run the risk of falling behind the competition.
Infonetics Research recently released its 2014 VoIP and UC Services and Subscribers Report, which indicated that VoIP is still one of the faster growing industries in the world. Because of the significant cost savings and improved functionality of these phone systems, traditional iterations of voice calling equipment are rapidly falling by the wayside, with more advanced and progressive options gobbling up market revenues.
According to the report, the VoIP market for global business and residential services expanded by roughly 8 percent last year, which represented a total value of $68 billion. Furthermore, SIP trunking grew by 50 percent in 2013, while North American firms comprised the majority of revenue increases on the global scale and enterprise demand for new subscriptions skyrocketed.
Finally, the source forecast the VoIP and UC services market to continue expanding at this pace for the next few years, while total revenues are expected to hit $88 billion by 2018 for these solutions. In short, the future is bright for these breakthrough technologies.
Organizations continue to become more active in the global economy, which demands a certain level of fluidity and flexibility when it comes to communications and IT capabilities. UC and VoIP solutions, as well as video conferencing tools that are fully compatible with phones, computers and mobile devices, present business leaders with novel opportunities to break into emerging markets at a relatively low total cost of ownership.