With the increase in remote work culture, the use of Voice over Internet Protocol (VoIP software) has gone up substantially in the last few years and it is projected to go up even higher in the near future.
In this article, we will look at some of the top VoIP statistics that will give you can idea about the use of this communication system. VoIP system is a cost effective solution for business that are working with remote team or offering services to clients across teh globe.
Let’s get started with the top stats around VoIP software.
1. VoIP market is expected to reach $194.5 billion by 2024
According to Persistence Market Research, the VoIP market is expected to grow from $30 billion in 2019 to $194.5 billion by 2024, at a CAGR of 18.5% during the forecast period (2019–2024). This growth is attributed to the increasing adoption of VoIP services by small and medium-sized businesses (SMBs) and the increasing demand for cloud-based VoIP services.
2. Almost 60% of U.S. adults lived without a landline at their home in 2019
As per CDC, in 2019, 60% of U.S. adults lived in households without landline telephone service. In addition, the rise of mobile phones and VoIP technology made the use of landlines decrease significantly. If the same trend continues, we will see landlines extinct in the following decades.
3. The global Unified Communications market is expected to register a CAGR of 16.8% from 2019 to 2025:
According to Grand View Research, the global unified communications market is expected to grow from $132.4 billion in 2019 to $399.3 billion by 2025, at a CAGR of 16.8% during the forecast period (2019–2025). This growth results from the increasing demand for cloud-based UC solutions and services.
4. The mobile VoIP market is predicted to cross $183.7 billion by 2027
As per Research and Markets, the mobile VoIP market is expected to reach $183.7 billion by 2027, registering a CAGR of 13.0% during the forecast period (2020–2027). In addition, this report offers an in-depth analysis of the key players operating in the market, recent developments, and trends followed in the mobile VoIP market.
5. Software buyers prefer to buy VoIP than any other type of voice service
As per software advice, in a survey of 500+ business decision-makers, it was found that VoIP was the most preferred type of voice service. It’s happening because of the cost savings attribute that VoIP offers over traditional phone services.
6. Cloud-based contact center market surged by 24% in 2020
As per report, the cloud-based contact center market surged by 24% in 2020. It is due to the continued migration of on-premises and legacy systems to the cloud. In addition, the cloud market is forecast to grow with a positive CAGR in the upcoming time.
7. 82% of organizations reported cost savings when they moved to VoIP
A survey conducted by Microsoft shows that 82% of organizations have achieved cost savings after moving to VoIP. The research also states that VoIP can save an organization from a lot of manual telecommunication work.
8. With VoIP, organizations can reduce phone costs by up to 50%
As per TelZio, organizations can reduce phone costs by up to 50% with VoIP. It is because VoIP uses the internet instead of traditional telephone lines. In addition, VoIP offers higher convenience and stability than traditional phone services.
9. VoIP can help small businesses cut costs by up to 90%
As per reports, VoIP can help small businesses cut costs by up to 90%. It can give several companies a competitive edge because they can keep their prices low and maintain a high-quality product.
10. The price of VoIP services may surge by 3% in the next five years
As per Spend Edge, the price of VoIP services may surge by 3% in the next five years. Despite this, the demand for VoIP will continue to increase as businesses look for ways to cut costs. However, the ROI driven by VoIP is enough to offset any price increase.
11. Cloud-based contact centers will reduce 15% IT personnel costs
As per TeleTech, Cloud-based contact centers will reduce 15% IT personnel costs by 2024. These organizations will no longer need on-site hardware and can instead rely on the cloud for everything from storage to call routing.
12. Companies with VoIP UC save more time and money
According to Ziff Davis, companies that have adopted VoIP Unified Communications (UC) systems save significant money per year. Furthermore, these companies also reported increased productivity as VoIP offers more productivity and efficiency.
13. Companies using VoIP contact center analytics can reduce Average Handle Time by 40%
According to McKinsey, contact centers using VoIP with analytics features can see a 40% decrease in Average Handle Time, the average time agents spend on each call. It means that your customers will get help faster, and your team will be more productive.
14. 87% of professionals use a mobile phone to communicate at work at least once per week
As per Nextiva, 87% of professionals use a mobile phone to communicate at work at least once per week. This number is only expected to grow as more businesses adopt BYOD policies and allow their employees to use their own devices for work purposes.
15. Around 62% of contact centers use IVR for customer service
According to Forrester, around 62% of contact centers use IVR for customer service. This number will only grow in the coming years as more businesses realize the benefits of automated customer service.
16. The average cost of a VoIP data breach in the U.S. is $8.64 million
According to IBM, the average cost of a VoIP data breach in the U.S. is $8.64 million. This number considers the direct costs, such as notification and recovery, as well as the indirect costs, such as reputational damage and lost business. It’s a significant number, and this reason is enough for companies to invest in robust security measures.
17. 50% of a voice conversation is silent; let VoIP save data
50% of a voice conversation is silent. It means that VoIP can save on data usage, which can be a significant cost saving for businesses with employees who make many calls.
18. 28,597 workers were hired by the VOIP industry in the US in 2019
According to IBISWorld, 28,597 workers were hired by the VOIP industry in the US in 2019. This number is projected to grow by 3.5% YoY. This growth can be attributed to the increasing popularity of VoIP and its many benefits.
19. Android has one of the biggest VoIP market players with a revenue of $109.5 billion
According to ResearchAndMarkets, Android has one of the most prominent VoIP market players, with a revenue of $109.5 billion. This number is only expected to grow as more people adopt Android devices and use them for VoIP calls.
20. $124 billion is the projected revenue from long-distance VoIP through 2024
According to Persistence Market Research, the global long-distance VoIP revenue will cross the mark of around $124 billion by the year 2024. This number will keep growing as the market demand grows.
21. The Asia Pacific to become the biggest VoIP services market
According to Persistence Market Research, the Asia Pacific is expected to become the largest VoIP services market. It is because of the increasing number of SMBs in the region and the growing awareness of VoIP benefits.
22. Computer-to-phone VoIP services will have the highest market growth
According to Persistence Market Research, computer-to-phone VoIP services will have the highest market growth by 2924. It is due to the increasing number of working from home and the growing popularity of BYOD policies.
23. Bring-Your-Own-Device will play the biggest role in VoIP growth
According to Deloitte, Bring-Your-Own-Device will play the most significant role in VoIP growth. As more businesses allow their employees to use their own devices for work purposes, this number will grow.
24. More than 55% of businesses use a mix of on-premise phone and hybrid services
According to Blueface, more than 55% of businesses use a mix of on-premise phone and hybrid services. Companies are realizing the benefits of both VoIP and traditional phone systems and are using a mix of the two to get the best of both worlds.