The global VoIP Phone System market size is projected to reach USD 35.91 billion by 2029

VoIP Phone System Definition

A virtual phone system is a communication platform that allows you to make and receive calls through the internet and the cloud rather than through a physical landline. A virtual phone system lets users make and receive calls on a desktop app, mobile phone, or desk phone, all from a single business phone number.

Voice over internet protocol (VoIP) is a type of phone system that uses an internet connection to make and receive calls, rather than traditional landlines.

VoIP converts your phone calls into data that is sent over the internet. You can use the Ethernet cables or skip them if you have a strong Wi-Fi signal. It does so at a much lower cost than older telephone systems. Voice over IP has many advantages over traditional phone service.

Cloud telephony is a type of unified communications as a service (UCaaS), essentially enabling organisations to run a business phone system through their internet connection.

Also commonly known as cloud calling, cloud telephony offers business voice services, run and managed by a third-party operator or host. A cloud phone system, often in the form of a VoIP- based hosted PBX system (voice over internet protocol), carries voice calls as well as messaging, video calls and file sharing all under one unified platform via your business internet connectivity.

On a practical level, cloud telephony works in the same way as any other VoIP service, by converting analogue voice signals into data packets and transmitting them over an internet connection. In the case of cloud telephony, when a user dials a phone number using a VoIP desk phone or softphone, the call is routed by a third-party VoIP service provider.

VoIP Phone System Picture

VoIP Phone System Market Summary

According to the new market research report “Global VoIP Phone System Market Report 2023-2029”, published by GlobalInfoResearch, the global VoIP Phone System market size is projected to reach USD 35.91 billion by 2029, at a CAGR of 10.9% during the forecast period.

• Global VoIP Phone System MarketSize(US$ Million), 2018-2029

Source: GlobalInfoResearch, “Global VoIP Phone Systems Market 2024 by Company, Regions, Type and Application, Forecast to 2030”(published in 2023). If you need the latest data, plaese contact GlobalInfoResearch.

• Global VoIP Phone System Top29Players Ranking and Market Share(Ranking is based on the revenue of 2022, continually updated)

Source: GlobalInfoResearch, “Global VoIP Phone Systems Market 2024 by Company, Regions, Type and Application, Forecast to 2030”(published in 2023). If you need the latest data, plaese contact GlobalInfoResearch.

The global key manufacturers of VoIP Phone System include Zoom, Rakuten Viber, Cisco, Microsoft, Mitel, RingCentral, Avaya, Twilio, Meta, 8x8, etc. In 2022, the global top 10 players had a share approximately 45.0% in terms of revenue.

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