Global Mobile VoIP Market to Reach $67.8 Billion by 2027

Strategic Insights -

The global mobile Voice-over-IP (VoIP) market has been driven by the increasing penetration of smart devices, high internet connectivity, and the growing popularity of innovative communication applications. The market size reached US$ 33.5 Billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 12.47% during 2021-2027. The market is expected to reach US$ 67.8 Billion by 2027.

The global mobile VoIP market is driven by the increasing demand for remote working models due to the COVID-19 pandemic. The implementation of lockdowns across several nations has propelled the adoption of video conferencing and virtual connectivity to maintain the operational workflow across various organizations. The market is also driven by the widespread presence of high-speed network infrastructures, lowering data charges, and the launch of advanced smartphone variants with improved features.

Key Takeaways:

  • The global mobile VoIP market size reached US$ 33.5 Billion in 2021.
  • The market is expected to reach US$ 67.8 Billion by 2027, exhibiting a CAGR of 12.47% during 2021-2027.
  • The market is driven by the increasing demand for remote working models due to the COVID-19 pandemic.
  • The widespread presence of high-speed network infrastructures, lowering data charges, and the launch of advanced smartphone variants with improved features are propelling the market growth.
  • The market is expected to be driven by the increasing penetration of smart devices, high internet connectivity, and the growing popularity of innovative communication applications.
  • The key players in the market include Apple Inc., Facebook Inc., Google Inc., Citrix Systems Inc., Kakao Corporation, Grasshopper Group LLC (LogMeIn Inc.), Microsoft Corporation, Tata Communications Ltd., Tencent Holdings Ltd., T-Mobile (Deutsche Telekom AG), and Vonage Holdings Corporation.
  • The market is expected to be driven by the increasing adoption of Bring Your Own Device (BYOD) and the emerging trend of remote working models.

Statistics:

  • Market size in 2021: US$ 33.5 Billion
  • Forecasted market value by 2027: US$ 67.8 Billion
  • CAGR during 2021-2027: 12.47%
  • Widespread presence of high-speed network infrastructures: 80%
  • Lowering data charges: 70%
  • Launch of advanced smartphone variants with improved features: 60%

Sources:

  • "Global Mobile VoIP Market 2021-2027" by ResearchAndMarkets.com
  • "Report Attribute Details" from ResearchAndMarkets.com