The global mobile VoIP market, with a value of $49.2 billion in 2021, is poised for significant growth, projected to reach $327.5 billion by 2031. This represents a robust CAGR of 21.1% between 2022 and 2031, making it a promising investment opportunity. Mobile VoIP, or mVoIP, offers a cost-effective and convenient way to communicate using smartphones and tablets. By leveraging 3G, 4G, GSM, or other internet services, it enables users to save on video conferencing, messaging, and calling. The digital data transmission over VoIP is faster, and users enjoy benefits such as low-cost inbound call prices, unlimited texting, and no roaming costs, enhancing its value proposition.The expansion of the mobile VoIP market is fuelled by increased smart device adoption, high internet connectivity, and the popularity of innovative and user-friendly applications. Furthermore, advances in consumer electronics are beneficial to the growth of the mobile VoIP market. However, a lack of awareness of mobile VoIP software and increased security concerns impede the mobile VoIP market’s growth. On the contrary, the increased adoption of cloud-based security applications will likely provide lucrative prospects for advancing the mobile VoIP market over the forecast period, indicating a promising future for potential investors. The mobile VoIP market is divided into operating systems, models, and applications.
Review of Segment
The mobile VoIP market is segmented into operating systems, applications, models, and regions. It is classified based on operating systems as Android or iOS, and applications include video sharing, screen sharing, and file sharing. The market is further divided into premium and enterprise models, and its performance is analyzed across regions: North America, Europe, Asia-Pacific, and LAMEA, providing a comprehensive overview of its market segmentation
In terms of model, the premium model segment will have the largest mobile VoIP market share in 2021, as it offers high-quality communication services to users who primarily use mobile VoIP for communication. However, the enterprise model sector is predicted to develop the fastest during the projection period since it improves company productivity through skill-based routing.
In 2021, North America emerged as the dominant region in the mobile VoIP market. The region is projected to maintain its position throughout the forecast period, thanks to widespread PSTN services and the availability of faster internet connections. During the forecast period, the Asia-Pacific region is anticipated to experience substantial growth, thanks to the high number of smartphone users in this area.Major companies in the mobile VoIP industry market include Cisco Systems, Inc., Microsoft Corporation, Citrix System, Inc., Rakuten, Facebook, Inc., Zoom Video Communications, Inc., Ribbon Communications Operating Company, Inc., 8×8, Inc., 3Cx, Mitel Networks Corp, and Jive Software. These players have implemented various strategies to enhance their market presence and solidify their standing in the industry.
Digital Capabilities:
Mobile VoIP is a convenient service that allows users to make voice calls using internet protocol networks. Users can utilise Mobile VoIP on their mobile devices by using their native dialler or installing a dedicated application. The service has gained immense popularity worldwide as many users use mobile devices or smartphones to make calls. In addition, there is an increasing global demand for mobile VoIP services, which is expected to contribute to the market’s growth in the forecast period. Mobile VoIP or internet-based phone services are a solution that utilises modern network infrastructure, such as LTE and WCDMA, to provide reliable voice call services over wireless data networks. This approach eliminates the need for traditional circuit-switched telephone lines the PSTN uses. In addition, this technology is compatible with smartphones, tablets, and computers. In addition, numerous VoIP service providers provide options for both hardware-based and software-based phones. Furthermore, a hardware-based VoIP phone has a similar appearance to a conventional hard-wired or cordless telephone. The phones have physical features like a speakerphone or microphone, touchpad, and display hardware to display user input and caller ID. Additionally, VoIP phones offer the convenience of call transfer, multiparty calling, and the ability to support multiple VoIP accounts. Certain VoIP phones can transmit and receive image data while on calls, thus classifying them as video telephones. Virtual phone software clients, commonly called softphones, are installed on a user’s computer or mobile device. Softphone clients provide a range of features comparable to those found in hardware-based IP phones. These include voicemail, call conferencing, and call transfer. Some key providers may offer extra features, like video conferencing and instant messaging (IM).
User Acceptance
Due to increased competition, major market players have partnered with companies to broaden their market penetration and reach. In September 2021, VoIP.ms, a Montreal-based VoIP Provider, introduced its Partner Program. This program is specifically tailored for individuals who provide consulting services to organisations, helping them streamline communications, integrate intricate systems, or find the best communication deals. Thanks to the rapid progress of technology worldwide and the growing popularity of mobile VoIP, many companies have been expanding their product offerings and introducing innovations to cater to a wider range of customers. In May 2022, Maxis introduced a new solution called Managed Voice that combines voice, data, and video. This solution allows users to access new services through broadband and IP services. In November 2022, Cisco was recognised as a 2022 Gartner Peer Insights™ Customers’ Choice for Meeting Solutions for the Webex Suite. In addition, due to heightened competition, leading companies have begun acquiring other businesses to broaden their market presence and expand their reach. In October 2019, 3CX made an acquisition of WP-Live Chat. This strategic decision is expected to enhance the corporation’s market position.
Government Regulations
All well-governed industries must demonstrate due diligence to showcase their commitment to regulatory compliance in various fields, including IT. Organisations are rapidly embracing advanced technologies, largely driven by the impact of COVID-19. Regulations and oversight now govern VoIP at both the federal and state levels. For example, the jurisdiction of the Federal Communications Commission (FCC) has been expanded to cover “interconnected” VoIP services. These services allow users to make or receive calls over the Internet. Furthermore, federal and state governments are enhancing their strategies for privacy laws, specifically those about the data used in their operations. For example, the Gramm-Leach-Bliley Act covers various institutions, including banks, securities firms, and other companies offering different products and services. In March 2022, the U.S. and European Commission announced a new trans-Atlantic data privacy framework. This framework establishes additional safeguards to ensure that surveillance activities are justified and proportionate to defined national security objectives. In addition, implementing the General Data Protection Regulation (GDPR) by the European Government helps reduce the likelihood of cyber security incidents and any potential unauthorised access to data. The emerging countries of Asia-Pacific are implementing strict regulations that cover areas such as privacy, government regulatory environment, and intellectual property protection.
Factors with the greatest impact
The market is experiencing significant growth due to the increased demand for mobile VoIP among enterprises. This technology offers a higher bandwidth communication network, benefiting industries looking to enhance efficiency and replace traditional networking services. Furthermore, integrating smart technology into various devices has resulted in a devedevelopmentinterconnected ecosystem. In addition, the availability of high-speed internet is driving consumer demand for smart and connected products. The expansion of high-speed network infrastructures and decreasing data charges are also fuelling the growth of mobile VoIP services. Furthermore, numerous smartphone manufacturers are introducing enhanced product variants that boast augmented reality, flexible screens, holographic displays, and more. These improvements aim to enhance compatibility with mobile VoIP services. In addition, there has been a rise in the demand for laptops, tablets, smartphones, and bring-your-own-devices. The expansion of high-speed network connections across different regions accompanies this. The market is expected to experience significant growth due to advancements in wireless connectivity, including GPRS, Wi-Fi, and WiMAX. There has been a significant increase in the popularity of cutting-edge and user-friendly applications.
The increasing popularity of innovative and user-friendly applications like WhatsApp, Line, Skype, and Viber drives market growth. These applications enhance smartphone functionality in terms of communication and connectivity. Furthermore, the surge in demand for cutting-edge applications in the eCommerce industry has been fuelled by advancements in communication technology. As a result, more individuals opt for online shopping as their preferred purchase method. This growing user base is a key driver behind the market’s expansion. For example, a recent study conducted by IJECE has revealed the widespread popularity of instant messengers such as WhatsApp, Viber, and Telegram. Facebook acquired WhatsApp because of its large user base and the numerous integrated features it offers. These features include free phone calls and text messaging without any subscription fees. Additionally, WhatsApp provides an open-source platform with no ads, a clean and fast interface, and strong security measures. In addition, companies worldwide are embracing advanced technologies like blockchain, big Data, and artificial intelligence to enhance productivity while minimising—resource usage, which is driving market growth. In addition, the COVID-19 pandemic has enforced lockdowns in numerous countries, accelerating the adoption of remote working models. Due to The growing need for mobile VoIP services, there is a rising demand for video conferencing and virtual connectivity to ensure smooth operational workflow across different organisations.
Benefits for Stakeholders
This study comprehensively analyses the mobile VoIP market, including insights into current trends and future estimations. It aims to provide a clear understanding of potential investment opportunities. The report provides information on the key drivers, restraints, and opportunities in the mobile VoIP market and analyses their impact on market trends. The analysis of Porter’s five forces reveals the strength of the buyers and suppliers in the industry. An analysis of the mobile VoIP market from 2022 to 2031 has been conducted to assess its potential in the market.
Review by an Analyst
VoIP expands communication reach by integrating mobility with a voice-over IP network. Two main types of communication are commonly used. One type is for short-range or campus communications, where telephones use DECT or PCS protocols and all base stations are connected to the same LAN. The other type is for wider-area communications, which utilise 3G or 4G protocols. Furthermore, various approaches enable seamless integration of a mobile handset into a VoIP network. The global mobile VoIP market is poised for significant growth, fuelled by the increasing demand for cutting-edge technology and the widespread use of smartphones, especially in emerging markets. The popularity of user-friendly applications like Skype, Viber, Line, and WhatsApp also contributes to the growing demand for mobile VoIP services. These apps greatly improve the functionality of smartphones when it comes to communication, connectivity, and entertainment. This has been a major factor contributing to the market’s growth, allowing users to utilise their devices’ potential fully. Due to the increased demand for mobile VoIP, several companies have formed alliances to enhance their capabilities. In February 2022, DIDWW, an ExclusiveTel operator specialising in high-quality VoIP communications and SIP trunking services, partnered with VoIP Studio, a renowned provider of advanced cloud telephony systems. This initiative has provided VoIP studio customers with a versatile and adaptable VoIP communications solution to support seamless business growth. Furthermore, as investment continues to grow globally and the demand for mobile VoIP increases, numerous companies have expanded their product offerings to cater to a more diverse customer base. In November 2022, Zoom introduced the Zoom Phone service in India. This service is based on voice-over-internet protocol (VoIP) and enables businesses to call via Zoom. Competitors such as Microsoft Teams and Cisco’s WebEx also provide similar services.
