Mobile VoIP Market Expected to Reach USD 327.5 Billion by 2031|Top Players such as -Rakuten, Facebook & Zoom

The increasing penetration of smart devices along with the high internet connectivity is primarily driving the global market for mobile VoIP

PORTLAND, UNITED STATE, March 17, 2023/EINPresswire.com/ -- Allied Market Research published a new report, titled, "Mobile VoIP Market Expected to Reach USD 327.5 Billion by 2031 | Top Players such as -Rakuten, Facebook & Zoom." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global mobile VoIP market was valued at USD 49.2 billion in 2021, and is projected to reach USD 327.5 billion by 2031, growing at a CAGR of 21.1% from 2022 to 2031.

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Increase in penetration of smart devices along with high internet connectivity and surge in popularity of innovative and user-friendly applications boost the growth of the mobile VoIP market. In addition, the increase in advanced consumer electronics is positively impacting the growth of the mobile VoIP market. However, lack of awareness about mobile VoIP software and surge in security concerns hamper the mobile VoIP market growth. On the contrary, increase in adoption of cloud-based security application is expected to offer remunerative opportunities for the expansion of the mobile VoIP market during the forecast period.

The mobile VoIP market is segmented on the basis of operating system, application, model, and region. By operating system, it is classified into android and iOS. By application, it is divided into video sharing, screen sharing, file sharing, and others. By model, it is classified into premium model and enterprise model. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By model, the premium model contributed to more than two-thirds of the global mobile VoIP market share in 2021, and is projected to rule the roost by 2031. The enterprise model segment would display the fastest CAGR of 23.2% throughout the forecast period owing to rise in adoption of enterprise model by various businesses to improve the productivity through effective routing based on skill set in developed and developing regions fuels the segment growth.

By operating system, the android segment held the largest share in 2021, garnering nearly three-fourths of the global mobile VoIP market revenue, and is projected to maintain its dominance by 2031. The iOS segment would showcase the fastest CAGR of 22.4% during the forecast period. This is driven by the considerable increase in demand for luxury smartphones.

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By region, North America held the major share in 2021, garnering more than three-fifths of the global mobile VoIP market revenue, and is expected to dominate by 2031. This is due to the high penetration of mobile devices and faster internet connections in the U.S. and other major regions across North America. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 23.7% from 2022 to 2031.

The key players profiled in the mobile VoIP market analysis are Cisco Systems, Inc, Microsoft Corporation, Citrix System, Inc, Rakuten, Facebook, Inc, Zoom Video Communications, Inc, Ribbon Communications Operating Company, Inc, 8x8, Inc, 3Cx, Mitel Networks Corp, Jive Software. These players have adopted various strategies to increase their market penetration and strengthen their position in the mobile VoIP industry.

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Covid-19 Scenario:

● The growing adoption of work from home culture across the developing nations and increase in penetration of mobile VoIP services across the employees, positively impacts the growth of the market. Lockdown had been imposed by governments all around the world to stop the virus from spreading owing to which the demand for mobile VoIP apps has surged to keep staff working remotely.

● Rise in usage of mobile VoIP apps in training and meetings has shown to be incredibly effective for many doctors and healthcare employees which positively impacts the growth of the market.

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