Research from Visiongain, an independent business information provider for the telecom, pharmaceutical, defense, energy, and metals industries, indicates that revenue in the global Voice over Internet Protocol (VoIP) market will reach $65 billion this year.
Another study from market research firm TechNavio forecasts the global market for VoIP services to increase at a compound annual growth rate of 7.1 percent through 2015, primarily due to the low cost of VoIP services and the increasing use of Session Initiation Protocol (SIP), but says complexity of deployment might contribute to challenges for future growth.
In its report "The Voice Over Internet Protocol (VoIP) Market 2012-2017: Prospects for Skype and Other Players," Visiongain notes that 2012 marks a turning point in telecom history as voice revenues are in terminal decline, due in part to the impact of VoIP on traditional telephony.
Skype and other VoIP services are set to reap some of the revenue that operators will lose, but the research also shows that many mobile operators are throttling VoIP on their networks. Currently, Visiongain values the mobile VoIP market's revenue at $2.5 billion, driven by smartphone uptake and increasingly cash-conscious and tech-savvy consumers as well as a steady increase in the number of successful partnerships between VoIP vendors and mobile operators to deploy mobile VoIP services.
"VoIP…represents a huge threat to mobile operators, as well as a significant opportunity for growth. The only barrier to success lies with strategy. VoIP can no longer be throttled by operators…it must be adopted, and the telecom landscape must change in accordance," the report concluded.
It further suggests that now is the time for ecosystem members to implement their VoIP strategies because deployment of LTE and 4G networks will revolutionize VoIP services and have a transformative impact on the telecom market.