market valued at $50bn
A report by Infonetics Research shows that while the residential services segment remains the largest of the market at 69% of total revenue, business VOIP services are growing at faster rates.
“A notable example is session initiation protocol (SIP) trunking, which had a breakout year with 143% revenue growth in 2010,” notes Diane Myers, directing analyst for VOIP and IMS at Infonetics Research.
According to Digital Media, residential services continue to dominate the market, accounting for 69% of total revenue, while the fastest growing business element of VOIP is proving to be SIP trunking, used to control multimedia online communication.
Use of cloud-based unified communication telephony, which involves the integration of real-time and delayed messaging options, is also on the rise, growing 20% in 2010. Japan's NTT tops the list of the world's largest residential VOIP service providers, followed by Comcast and France Telecom.
Based on current growth rates, Infonetics predicts the combined business and residential VOIP market will reach $74.5 billion in 2015.
Market research firm IBISWorld also found the same results, valuing the VOIP market at £31 billion (approximately $50 billion) in 2010.
The domestic sector remains the largest of the market at 69% of total revenue, says Telappliant, but business VOIP solutions are growing at a quicker pace.
IBISWorld released a report showing that US-based wired telecommunication carriers are generating lower returns each year as consumers switch to VOIP and wireless products, which would appear to back up the findings of Infonetics.
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