As more businesses find it necessary to work on the move, mobile technology solutions have also improved to cater to this need. Technology has greatly improved which makes it easier for employees to communicate with co-workers and clients virtually anywhere they are. This has changed the way businesses operate.
With more businesses embracing this trend, the market for this area is likely to grow rapidly. In a recent study by leading market research firm Reportstack, the global VoIP market is predicted to grow at a compound annual growth rate of 64.6 percent over the period of 2011-2015. The increasing global network and wireless bandwidth capabilities is one of the reasons for this growth.
According to an analyst from TechNavio, “The Global Mobile Voice Over Internet Protocol Solutions market is witnessing the emergence of many new players because of the presence of several factors such as low entry costs and huge business opportunities. These new companies are trying to penetrate the market by offering low-cost communication services. This has resulted in a price war among vendors in the market and the established companies are losing their market share to the new entrants. This trend is expected to grow in the next few years with the market expected to witness the emergence of new global and regional players.”
The high demand for low cost communication services is viewed as one of the main factors for the growth of mobile VoIP. Since businesses make a high volume calls, it is cost-effective for them to jump into the VoIP wave. VoIP offers low cost calling rates and requires low investment compared to other types of communication services.
The report covers the Americas, EMEA and the APAC regions. It mentions the key vendors dominating this market which include Fringland Ltd., Nimbuzz BV., Skype Inc., and Vonage Holdings Corp. Other vendors mentioned in the report are Vyke Communications PLC., Truphone Ltd., Jajah Inc., Vopium AS.