Market Research Future (MRFR) expects the IP phones market 2020 to advance at an optimistic rate between 2018 and 2023, which is the review period.
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Top Boosters and Main Restraints
IP phones are gaining significant momentum since they offer an array of advantages including low maintenance, easy installation, convergence of multiple systems into one, easy access, ability to combine data, voice, multimedia technologies and video into a single unified system, better productivity, simple conference call, service mobility, efficient client interaction, versatility and reliability of IP phone features. The dynamic combination of all these features and benefits is boosting the growth of the global market.
The extensive availability of migration and integration support strategies and the ability to elevate the quality of customer service accelerate the growth of the IP telephony market. One of the top trends that can positively influence the IP telephony market during the evaluation period includes the lucrative opportunities offered by the new GDPR regulation for the leading companies within the IP Telephony value chain. The intensifying competition among internet service providers and telecommunication service providers also boosts the growth of the IP phones market.
The COVID-19 analysis conducted by MRFR cites the lockdown situation as the biggest challenge for multiple industries around the world, including the semiconductor sector. IP phones market is resilient enough to bear the ramifications of the pandemic, since the companies are doing everything in their capacity to revive the collapsing supply chain network. MRFR experts confirm that the IP phones market could note significant growth in the near future, considering the long-term impact of covid-19 on the overall semiconductor industry. We will provide covid-19 impact analysis with the report.
The IP phones market has been segmented on the basis of component, type and end user.
The component segment comprises of hardware and software components. The software components segment is further bifurcated into TCP/IP, DNS, DHCP, SIP and others. Session Initiation Protocol (SIP) is easy to implement, debug and to integrate applications. The most common applications of SIP are in internet telephony for voice and video calls, private IP telephone systems, as well as instant messaging over internet protocol (IP) networks.
The types of IP phones are wired, Wi-Fi, DECT, and more.
The primary end-users in the industry are corporate and individual consumers.
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The regional study of the global IP phones market comprises Asia Pacific or APAC, Europe, North America, and the Rest of the World or RoW.
North America has been recognized as the most lucrative market for IP phones, while the fastest growth rate can be recorded by the APAC market during the appraisal period.
In North America, evolving business models and technologies, coupled with the extensive awareness about the cloud communications advantages among consumers can be major growth boosters in the following years. The technical brilliance of the region also boosts the adoption of IP phones across varying business sizes, giving rise to lucrative opportunities for leading service providers. The competitive landscape in the region is extremely fragmented with several firms vying for consumer attention as well as higher investments. Applications like wireless mobility, common dialing plans and e-learning are drawing the attention of universities toward IP phones. Therefore, the education sector has emerged as an important end-user, especially in the region, giving a considerable boost to the growth of the IP phones market.
The APAC market has a highly concentrated competitive landscape, with a few renowned companies holding significant shares in the IP phones industry. Despite the tough competition given by smaller services providers, the large-scale MNOs have made their presence felt as innovative next-generation leaders in the regional market. However, the present lockdown situation presents a host of challenges for the regional players, with the shutting down of manufacturing plants. With that said, exploration of avenues pertaining to covid-19 breakthrough across the region can lead to better growth in the years to come.
Top contenders in the market for IP phones include Cisco Systems, Inc. (U.S.), Mitel (Canada), Huawei Technologies Co. Ltd. (China), Avaya (U.S.), ShoreTel, Inc. (U.S.), NEC (Japan), Dahua Technology Co. Ltd. (China), Microsoft Corporation (U.S.), Alcatel-Lucent Enterprise (U.S.), Unify (U.S.), to name a few.
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