With the growing emphasis of organizations on enhancing productivity and increasing demand for the voice over internet protocol (VoIP) software, the VoIP software market will advance over the forecast period of 2020–2025 at a CAGR of 13.4%. According to PS Intelligence, the market is expected to generate $30,441.5 million by 2025, which will be a substantial increase from the $15,114.3 million garnered in 2019.

This software allows people to make calls through the internet instead of the traditional telephone line, which leads to cost-effectiveness, especially if calling internationally. Small and medium enterprises (SMEs) across the globe are generating a huge demand for VoIP software, because these solutions are easy to use, install, and troubleshoot. VoIP systems require minimal technical knowledge for the installation process, which is one of the major reasons they are becoming rapidly mainstream.

The costs attached to calling over the internet are considerably lower than the call rates of the traditional telephony system. Thus, technical and economic benefits contribute massively to the growing popularity of the software. The technology segment of the VoIP software market is divided into three categories —session initiation protocol (SIP) trunking, managed private branch exchange (managed PBX), and hosted private branch exchange (hosted PBX).

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Among these, hosted PBX generated considerable revenue for the market in 2019, because it is a cloud-based IP telephony solution that can be accessed through the internet. This feature helps in the elimination of the unnecessary infrastructure costs associated with an on-premises setup, which is why hosted PBX will continue witnessing high adoption.

This market research report provides a comprehensive overview of the VoIP software market

• Historical and the present size of the VoIP software market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential