VOIP Services Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030

BFSI is the fastest growing segment, North America is the largest market globally

The Global VOIP Services Market, valued at USD 9.01 Billion in 2024, is projected to experience a CAGR of 13.05% to reach USD 18.81 Billion by 2030. Voice over Internet Protocol (VoIP) services enable voice communication and multimedia sessions over the Internet Protocol network, converting analog audio signals into digital data for transmission, thereby replacing traditional circuit-switched telephony.

Key Market Drivers

The primary drivers propelling the global Voice over Internet Protocol Services Market include significant cost efficiency and the expansion of remote and mobile workforces. Enterprises are increasingly adopting VoIP solutions to realize substantial operational savings, moving away from the expensive infrastructure and per-minute charges associated with traditional telephony. This shift enables businesses to reduce communication expenditures across domestic and international calls, facilitating predictable budgeting.

Key Market Challenges

Addressing persistent security vulnerabilities significantly impedes the Global Voice over Internet Protocol Services Market expansion. Concerns regarding the security of voice communication and sensitive data transmitted over IP networks directly undermine user confidence, hindering broader enterprise adoption, especially for mission-critical applications where uninterrupted and secure communication is paramount. The increasing frequency and sophistication of cyber threats lead to tangible service disruptions and potential data breaches. For example, according to NCTA - The Internet & Television Association, between June 2024 and June 2025, attacks on domestic communications networks resulted in 15,540 incidents, disrupting service for over 9.5 million customers nationwide.

Key Market Trends

The integration of Artificial Intelligence and Machine Learning in VoIP solutions represents a pivotal trend, enhancing the intelligence and efficiency of communication systems. These advanced capabilities move beyond basic voice transmission, enabling features such as real-time transcription, sentiment analysis, intelligent call routing, and AI-powered virtual assistants for customer interactions. For instance, Zoom reported over four million accounts enabled Zoom AI Companion, including 57% of Fortune 500 companies, as of October 2024, showcasing widespread adoption of AI-driven productivity tools in communication platforms. This integration allows businesses to automate routine tasks, improve response times, and provide more personalized customer experiences, fundamentally transforming contact center operations and internal collaboration.

Key Market Players Profiled:

• Cisco Systems, Inc
• Microsoft Corporation
• Verizon Communications Inc
• AT&T Inc.
• Tata Communications Limited
• RingCentral Inc.
• Zoom Video Communications, Inc.
• 8x8, Inc.
• Nextiva, Inc.
• Syndeo LLC (Broadvoice)

Report Scope:

In this report, the Global VOIP Services Market has been segmented into the following categories:

By Call Type:

• International VoIP
• Domestic VoIP

By Service Type:

• SIP Trunking
• Hosted IP PBX
• Managed IP PBX

By End User:

• IT and Telecom
• BFSI
• Government
• Healthcare
• Retail

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global VOIP Services Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.