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VoIP Technology is one of the most innovative technologies of the 21 st century. This revolutionary technology combines the internet protocol and traditional telephony. VoIP Technology provides low cost international or long distance calls throughout the world. Both end users and various corporate sectors have taken up VoIP technology due to its numerous features. VoIP Technology is the main reason behind the tremendous transformation of the business communication sphere.

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Here are the key factors which helps the VoIP technology to grow: The market of the VoIP industry remains fresh as new players or companies enter frequently. This increases the competition and also in turn benefits the user. US the largest user of VoIP 36 of all businesses are already using VoIP and this number increases steadily. 41 states of US are in favour of VoIP over the traditional phone line. As compared to its counterpart the PSTN VoIP Technology is more environment friendly. It reduces the use of cables and heavy infrastructure hardware eventually reducing waste generation.

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VoIP industry is one of the most profitable sectors to invest in today’s world. Increase in the number of VoIP Providers increases the competition in the VoIP industry. It also provides the consumers a wide range of options to choose from. Developed countries use the VoIP technology more than the developing nations or others. The estimate for growth of global VoIP equipment is around 20 - 40 per year.

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Various researches estimate the growth of VoIP market to reach 140 billion USD by the year 2021. The global mobile VoIP market trend shows an impressive CAGR of around 28 percent during the forecast period 2016-2020. Projections show the VoIP services market to expand at the rate of 10 percent every year until 2021. According to this the number of VoIP users individuals will exceed 1 billion by the end of 2017.

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Projecting the decline of traditional telephone system reports predict that by the end of 2018 only 6 of the U.S. population will continue with the traditional landline phone network. According to Information Week 70 of companies use UC Unified Communications in the cloud or plan to do so. The number of Mobile VoIP users will touch 1 billion by the year 2017. The global enterprise mobility market expects to reach USD 500.0 billion in 2020.

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