Internet Protocol Telephony Industry 2021

 The global Internet Protocol (IP) Telephony market is valued at million in 2018 and is expected to reach million by the end of 2024, growing at a CAGR of between 2019 and 2024.

The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.

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Internet Protocol (IP) Telephony uses Internet Protocol (IP) for communication over the internet. Higher level features such as advanced call routing, voice mail, contact centers, can be utilized with IP telephony as It utilizes the Voice over Internet Protocol (VoIP) standards to create a telephony system. Communication over the internet with hardware and application support makes Internet Protocol (IP) Telephony use very easy and portable than traditional phone system. Ease of use, cost effectiveness, improved productivity shifting the business communication system towards Internet Protocol (IP) Telephony.  

Voice over Internet Protocol (VoIP) uses a peer-to-peer, multimedia signaling protocol called Session Initiation Protocol (SIP). It is ASCII-based, resembling HTTP, and reuses existing IP protocols (DNS, SDP). SIP is now considered as de facto standard protocol for future voice networks. 

The VoIP market growth is attributed to factors such as efforts taken by government agencies & private companies for the development of the wireless communications infrastructure and the increased adoption of cloud-based VoIP services due to cost-efficiency. Businesses with poor communication infrastructure face issues such as low audio quality and long delays that can adversely impact their productivity.