Global IP Telephony Market to Reach $7.5 Billion by 2030,

Research firm Allied Market Research noted in a new report that the global IP telephony industry generated $2.13 billion in 2020 and is expected to reach $7.5 billion by 2030, growing at a compound annual rate of 13.7 percent during that time.

The report identified a surge in adoption by businesses, low costs, and ease in integration as the key growth drivers and the integration of 5G technology into IP telephony systems as a key growth opportunity going forward. However, requirements for stable and reliable internet connections and poor voice quality hinder market growth, the report said.

The report also found a surge in adoption during the COVID-19 pandemic. Doctors and healthcare professionals benefited considerably from mobile IP telephony for virtual consultations. Education also relied heavily on IP telephony infrastructures to facilitate video calling for online classrooms, and businesses enabled employees with IP video telephony to work from anywhere at any time.

In fact, based on end user, the corporate segment contributed to the largest share in 2020, accounting for around three-fifths of the global IP telephony market, and that is projected to continue through 2030. Allied Market Research attributes this to cost effectiveness in implementation as IP telephony offers lower overall costs in comparison to traditional phone carriers.

The report identifies Dialpad, Freshworks,, Microsoft, Mitel Networks, Ooma, RingCentral, Vonage, and 8x8 as the market leaders in the IP telephony market.