The VoIP industry is showing no signs of slowing down. In terms of usage, market share, and revenue, it appears to be moving faster than ever. This is especially true given the current VoIP trends of 5G adoption, unified communications as a service (UCaaS) expansion, and greater AI usage.
VoIP market trends can help businesses of all sizes and scope get the most out of their IT investments. It’s vital to stay up to date with VoIP market trends as more businesses rely on VoIP service providers for their primary communications. Here are five VoIP trends worth watching.
Smarter VoIP Assistants
VoIP assistants can let you and your workers focus on more attention-demanding duties by automating routine communication tasks. In terms of customer service, smart assistants can help you increase the speed and quality of interactions. Currently, VoIP assistants handle call menus and can answer simple inquiries. But thanks to AI, VoIP assistants are becoming smarter and more indistinguishable from actual humans.
The Rapid Growth of Unified Communications as a Service (UCaaS)
Using a mobile VoIP system will let you communicate more quickly and efficiently. As a result, you will have a competitive advantage. Professionals can conduct business conversations and conferences much more easily using mobile VoIP. UCaaS solutions are routinely updated and can be instantly backed up, meaning your communication infrastructure will be future-proofed. To increase operational flexibility, more firms are shifting their communications to the cloud.
The Death of Traditional Telephone Systems
Traditional telephones are becoming less popular. Adaptable communication solutions are the future, and firms should embrace this future. In the digital age, there are numerous new ways for people to communicate. A growing number of companies are investing in VoIP platforms to accommodate more communication channels.
Number Portability
Blockchain technology makes mobile number portability faster and more efficient. Basically, instead of relying on potentially competing service providers to coordinate swapping a number, blockchain technology can handle the request quickly, accurately, and with complete verification.
Competition with Video Chat Services
Video chat services can increase close rates while reducing handle time, making them a better option than audio calls for businesses. Some VoIP systems have built-in video chat options or can work with third-party video chat services. That said, you don’t necessarily have to pick one over the other.
Final Thoughts
Cost-effective communication solutions that support organizational mobility are becoming increasingly important to businesses. Users can employ VoIP technology to create flexible communication solutions. It can help you save up to 30% on phone bills and teleconferencing charges, and as much as 90% on international calls.
As companies become international, they’ll need better communication and collaboration options among remote workers. This drives up demand for VoIP goods like IP phones and low-cost calling plans. And as a result, the VoIP market is expected to reach $55 billion by 2025.
The VoIP industry will have a greater impact on how international business is conducted in the future. These advancements result in faster transmission speeds for high-quality voice and data services.
