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New York, US, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR),“IP Phones Market Analysis by Component, Type (Wired, DECT, Wi-Fi) and End User (Corporate Consumers, Individual Consumers) - Forecast 2030” valuation is poised to grow at a 13.7% CAGR throughout the forecast period (2021–2030).
IP Phones Market Overview
The growing trend of workforce mobility will offer robust opportunities for the market over the forecast period. Through an IP phone, organizations can augment communication and collaborations amid remote users and employees to boost business efficiency.
IP Phones Market Report Scope:
| Report Metric || Details |
| Market Size in 2030 || USD 7.35 Billon |
| Growth Rate || 13.7% CAGR |
| Forecast Period || 2021 to 2030 |
| Key Vendors || Alcatel-Lucent Enterprise (U.S.), Huawei Technologies Co. Ltd. (China), Avaya (U.S.), Cisco Systems, Inc. (U.S.), Microsoft Corporation (U.S.), and Mitel (Canada) |
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Growing Investments in Wireless Communication to Boost Market Growth
The growing government investments and private-led investments in the wireless communication technology like 4G network and 5G technology will fuel market growth in the forecast period.
The pocket-friendliness of the product is a major driving element in the growth of the Global IP Phones Market. Furthermore, the global market is expanding due to increased rivalry among internet service providers & communications service providers in the industrial sector.
Absence of Location Tracking for Emergency Calls to act as Market Restraint
The absence of location tracking for emergency calls, the low bandwidth, and inadequate routers may act as market restraints over the forecast period.
Poor Internet Connection to act as Market Challenge
The poor internet connection in different developing countries coupled with insufficient cables may act as market challenges over the forecast period.
IP Phones Market Segments
The global IP phones market is bifurcated based on end user, type, and component.
By component, both hardware and software will lead the market over the forecast period.
By type, Wi-Fi will dominate the market over the forecast period.
By end user, corporate consumers will spearhead the market over the forecast period.
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IP Phones Market Regional Analysis
North America to Lead IP Phones Market
The significant increase in the IP phones market especially in North America can be attributed to technological developments and the increasing use of mobile phones and tablets in that region. In North America, shifting business models and technology, together with widespread consumer knowledge of the benefits of cloud communications, can be significant growth drivers in the coming years. The region's technological prowess also drives the use of IP phones across a wide range of business sizes, creating attractive opportunities for the leading service providers. The region's competitive landscape is tremendously fragmented, with numerous enterprises competing for customer attention and greater investments.
IP phones are influencing universities due to applications like as wireless mobility, shared calling plans, & e-learning. As a result, the education sector has emerged as a significant end-user, particularly in the region, providing a rapid boost to the market growth. The presence of well-established players that provide enhanced and innovative telecommunication services, evolving business models and technologies, widespread awareness about the benefits of cloud communication, technical brilliance, expanding applications in common dialling plans, e-learning, & wireless mobility, rapid usage in education sector, significant technological developments, favorable government policies, and different investments are all contributing to the global IP phones market. Canada and the United States have the largest market share.
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APAC to Have Admirable Growth in IP Phones Market
The APAC market holds a high concentrated competitive landscape, having a few well-known businesses controlling a sizable portion of the IP phones market. Despite stiff competition from smaller service providers, large-scale MNOs have established themselves as pioneering next-generation leaders within the regional industry. However, the current lockdown situation poses a slew of obstacles for regional players, with production factories shutting down. During the forecast years, the APAC market is predicted to expand the most in the worldwide IP phone market.
The quick expansion of enterprises in the APAC area, particularly in India, China, & Indonesia, is paving the way for the usage of IP phones, particularly to connect with overseas investors and clients. Companies in the Asia Pacific region are rapidly providing IP phones that are made locally at low prices and at discounted prices for small & medium enterprises & start-ups. The region is also benefiting from the expansion of online sales platforms like IndiaMART, Amazon, & Alibaba, among others, which are increasing the accessibility of IP phones within Asia Pacific countries. Alibaba, for example, allows Chinese producers for selling their products abroad at a lower cost.
The impact of COVID 19 has restricted the market size of IP Phones as the worldwide market has lost investors. Furthermore, global need for the technological product sales had been diminished, and the global market suffered a significant loss. In response to the pandemic crisis, the global market launched the IP Phones sector and implemented innovative tactics to boost overall sales and practice rates. The COVID 19 epidemic has impacted global market production, disrupting the whole supply chain. Furthermore, the pandemic breakout impacted the financial sides of the worldwide market. As per the IP Phones market Analysis, numerous tactics have been implemented by key companies to enhance sales and production in order to prevent the COVID-19 spread. The worldwide market is fighting the COVID by implementing safety measures in order to eliminate market concerns and hazards. In the current context, the market has stabilized and is expected to grow in the next years.
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IP Phones Market Competitive Analysis
Dominant Key Players on IP Phones Market Covered are:
- Alcatel-Lucent Enterprise (U.S.)
- Huawei Technologies Co. Ltd. (China)
- Avaya (U.S.)
- Cisco Systems Inc. (U.S.)
- Microsoft Corporation (U.S.)
- Mitel (Canada)
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