Move over traditional phone lines, VoIP is making you obsolete. In both the business world and in American households. VoIP is the new, hot way for businesses to operate.
By the year’s end in 2015 it is expected that over 30 million households in the U.S. and 65% of all businesses would switch over to some form of VoIP service and ditch traditional phone lines.
It currently sits at about 23.45 million households using some form of VoIP service and about 42% of all businesses.
Affordable, cost-effective, and a more tech savvy way to communicate, VoIP makes use of the internet to connect businesses to landlines. With each phone getting its own unique number, more and more businesses are opting to ‘cut-the-cord’ and use VoIP.
Ah, the good ol’ days of coming into the office and seeing a phone line attached to a cord connected to a phone line. This view changed dramatically in 2002 with the introduction of VoIP. VoIP converts the voice signal in your phone into a digital signal (the IP) that travels over the public Internet or a private data network.
According to Infonetics more and more businesses are opting for VoIP to cut costs and increase profitability. The global business and residential VoIP services market grew about 8% from 2012 to 2013 to a whopping $68 billion in revenue.
The market for VoIP, in the increasingly popular internet age is cut throat and companies are luring customers with unique, innovative add-ons to VoIP.
On March 4th, Nextiva, for example, one of the largest growing VoIP providers in USA launched a free Zendesk based app to give companies who are already their customers the freedom to use VoIP straight from their mobile phones. This release increased sales for Nextiva by 9.7% in merely the past two weeks. The new technology gives users access to caller-id, three-way or multiple way calling and voice clarity.
Avaya, recently awarded for its customer service, provide small to medium sized businesses unique IP solutions that have increased their revenue annually since they began.
It seems, however, that not all companies are soaring to success with VoIP on their side. ShoreTel, a company known for its Cloud Services still continues to see losses since 2013. The company has no further statement on their continues losses despite the growing market for VoIP.
Canadian companies seem to be building up a storm in the VoIP market. Mitel has become popular among businesses in both Canada and the U.S. After acquiring Aastra, Mitel saw a revenue increase of 97%, with its customers sitting at 48% American and the rest worldwide. It boasts of providing 2 billion calls, chats and messages every day.
VoIP is not only popular in the business world, but also in households with internet access. Over 22% of all households with internet access in America have VoIP. Did you know that if you’re using Skype, you’re using a VoIP service? That’s right. Skype uses the same technology as that of a standard VoIP with a magic jack. The future is bright for VoIP companies as year after year, there has been an 8% increase in VoIP subscriptions in global households and businesses.
Infonetics continues to predict a long term worldwide growth in VoIP services such that it will reach $88 billion in revenue.
