Mobile VoIP Market Report: Technology Trends and Market Forecasts 2031

The increase in advanced consumer electronics is positively impacting the growth of the mobile VoIP market.

PORTLAND, PORTLAND, OR, UNITED STATE, March 26, 2024 /EINPresswire.com/ -- According to the report, the global mobile VoIP industry generated $49.23 billion in 2021, and is estimated to reach $327.5 billion by 2031, witnessing a CAGR of 21.1% from 2022 to 2031. The report analyzes changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Mobil VoIP, also called mVoIP, presents a convenient and cost-effective approach to communication on mobile gadgets like smartphones and tablets, utilizing voice over internet protocol technology. This industry efficiently communicates through various mobile services such as 3G, 4G, GSM, or other internet services. By using mobile VoIP, individuals can significantly cut costs when making calls, sending messages, or engaging in video conferencing. Additionally, VoIP transmission is expedited as digital data is segmented into packets, each taking the shortest route. Mobile VoIP users benefit from advantages such as no roaming charges, unlimited messaging, and affordable incoming call rates. To access these services, users simply need to download and install mobile VoIP software.

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An increase in penetration of smart devices along with high internet connectivity and a surge in the popularity of innovative and user-friendly applications boost the growth of the mobile VoIP market. In addition, the increase in advanced consumer electronics is positively impacting the growth of the mobile VoIP market. However, lack of awareness about mobile VoIP software and a surge in security concerns hamper the mobile VoIP market growth. On the contrary, an increase in the adoption of cloud-based security applications is expected to offer remunerative opportunities for the expansion of the mobile VoIP market during the forecast period.

By model, the premium model contributed to more than two-thirds of the global mobile VoIP market share in 2021, and is projected to rule the roost by 2031. The enterprise model segment would display the fastest CAGR of 23.2% throughout the forecast period owing to rise in adoption of enterprise model by various businesses to improve productivity through effective routing based on skill set in developed and developing regions fuels the segment growth.

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By region, North America held the major share in 2021, garnering more than three-fifths of the global mobile VoIP market revenue, and is expected to dominate by 2031. This is due to the high penetration of mobile devices and faster internet connections in the U.S. and other major regions across North America. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 23.7% from 2022 to 2031.

Depending on operating system, the android segment holds the largest mobile VoIP market share, owing to rising need for smartphones with improved features such as augmented reality, flexible screens, and holographic displays. However, the iOS segment is expected to grow at the highest rate during the forecast period, owing to increased demand for luxury smartphones.

The Mobile VoIP industry market has witnessed stable growth during the COVID-19 pandemic as manufacturing processes are provisionally closed across several countries to contain the virus. There is also a shortage of mobile chipsets in the market due to distractions in manufacturing. huge shift to remote working, and VoIP’s ability to connect widely dispersed employees under a single phone system helped to enable continuity for businesses. The VoIP stats found over the last 18 months show how business owners and leaders rapidly turned to hosted PBX features to facilitate meetings, conferences, and collaboration in general.

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In addition, several manufacturing companies such as Samsung, Xiaomi, OPPO, and LG Display have suspended their manufacturing operations in China, India, South Korea, and European countries. As China is a hub for electronics equipment’s and companies inclines to manufacture their products in China, the market due to COVID-19 has drastically dropped. For instance, in May 2020, OPPO Company closed down its processes in Noida, India. Additionally, demand for mobile devices has decreased due to lockdowns imposed in several countries.

Leading Market Players:

• Cisco Systems, Inc
• Microsoft Corporation
• Citrix System, Inc
• Facebook, Inc,

The report analyzes these key players in the global Mobile VoIP market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

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