VoIP in the US - Industry Market Research Report
Description
VoIP in the US
Voice over Internet Protocol, commonly known as VoIP, has historically offered individuals and businesses low-cost telephone service by leveraging existing internet connections; nonetheless, growing competition is drowning out VoIP's core benefits. Growth within the VoIP space has been limited, first as cell phone popularity exploded and then as lockdowns encouraged transitions to video calling. While COVID pushed adoption of VoIP services, the economic effects also devastated small businesses, a substantial customer base. Weakening reliance on all telephony services and inflationary concerns have more than halted growth as industry revenue is expected to decline 0.6% during 2023. Industry revenue has been decreasing at a CAGR of 1.4% over the past five years, and is expected to reach $11.5 billion in 2023, when profit is projected at 10.2% of revenue.
Industry participants provide Voice over Internet Protocol (VoIP) services to consumers, businesses and government organizations. VoIP technology converts voice signals into digital data that is transmitted using the internet. This industry also includes VoIP providers that bundle their services with internet, cable-operated VoIP and operators that resell VoIP services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Voice over Internet Protocol, commonly known as VoIP, has historically offered individuals and businesses low-cost telephone service by leveraging existing internet connections; nonetheless, growing competition is drowning out VoIP's core benefits. Growth within the VoIP space has been limited, first as cell phone popularity exploded and then as lockdowns encouraged transitions to video calling. While COVID pushed adoption of VoIP services, the economic effects also devastated small businesses, a substantial customer base. Weakening reliance on all telephony services and inflationary concerns have more than halted growth as industry revenue is expected to decline 0.6% during 2023. Industry revenue has been decreasing at a CAGR of 1.4% over the past five years, and is expected to reach $11.5 billion in 2023, when profit is projected at 10.2% of revenue.
Industry participants provide Voice over Internet Protocol (VoIP) services to consumers, businesses and government organizations. VoIP technology converts voice signals into digital data that is transmitted using the internet. This industry also includes VoIP providers that bundle their services with internet, cable-operated VoIP and operators that resell VoIP services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
49 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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