VoIP Software Market Revenue To Soar Between 2020 and 2025

The global voice over internet protocol (VoIP) software market value stood at $15,114.3 million in 2019, and it is predicted to rise to $30,441.5 million by 2025. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 13.4% from 2020 to 2025. 

The market is being driven by the growing need for the VoIP software among small and medium enterprises (SMEs) and the rising focus of enterprises on improving their productivity. SMEs are rapidly adopting this technology, owing to its easy-to-use, troubleshoot, and install features. Additionally, this technology facilitates voice communication at more affordable rates than conventionally adopted telephony systems. 


Further, minimal technical know-how is needed for deploying VoIP systems, which is also pushing up their use in SMEs. Voice-based smart office systems are generating lucrative growth opportunities for the players operating in the VoIP software market. Smart offices are utilizing voice-enabled devices to attain a great level of control. Moreover, these devices can communicate with the office environment by utilizing voice.

In simpler words, these devices use voice commands to control lighting and temperature in offices and record office supplies. Depending on technology, the market is classified into session initiation protocol (SIP) trunking, managed private branch exchange (managed PBX), and hosted private branch exchange (hosted PBX). 

Out of these, the SIP trunking category is predicted to demonstrate the fastest growth in the market in the coming years. This is ascribed to the surging adoption of the technology, as it offers support for on-premises public switched telephonic network (PSTN) connectivity. Hence, it can be said without hesitation that the demand for VoIP software will surge sharply in the coming years, primarily because of its rising need among small and medium enterprises all over the world.

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