31 Dec By the Numbers: 10 Statistics that Show Hosted VoIP is Booming
The legendary journalist Harry Reasoner once said that “statistics are to baseball what flaky crust is to Mom’s apple pie.”
While this is certainly true (and a slice of Mom’s flaky apple pie would be delightful right about now), there is another discussion where statistics are also a major part of the story: the one that shows, beyond any doubt, that hosted VoIP is flat-out booming.
And so, we invite you to grab some pie, pour some coffee, and allow us to present 10 hosted VoIP statistics that every business owner and executive should know:
- VoIP is now the number one telephone choice by U.S. businesses. (Source: Software Advice)
- By the year 2020, VoIP will have approximately 204.8 billion subscribers worldwide. (Source: Future Marketing Insights)
- The global market for VoIP and Unified Communications (UC) is projected to reach $88 billion by the end of 2018. (Source: Infonetics Research)
- US-based VoIP vendors are expected to generate $27 billion in 2018, which represents a 10.4% rise from 2013 levels. (Source: IBISWorld)
- The hosted VoIP service segment is expected to grow at a compound annual growth rate (CAGR) of 7.8% between 2016-2024. (Source: Persistence)
- New businesses that switch to hosted VoIP can cut initial startup costs by up to 90% (Source: Tech.co)
- Businesses with 30 phone users enjoyed $1,200 in monthly savings when switching to VoIP. (Source: PC World)
- The total number of mobile VoIP users worldwide has now surpassed 1 billion. (Source: Juniper Research)
- VoIP is the fastest-growing industry in the world. (Source: IBISWorld)
- 70% of businesses said they have already deployed Unified Communications (UC) in the cloud or plan to do so in the near future. (Source: InformationWeek)
In light of the above, it’s not a mystery why TMCnet reports that phone companies are losing an average of 700,000 landline customers per month. It’s because these customers want to:
- Significantly cut year-over-year telecommunication costs by anywhere from about 25% to over 50%.
- Empower their mobile workforce to succeed and stay flexible.
- Improve sales results and shorten the customer journey.
- Enhance service and support.
- Get “peace of mind” business continuity and 99.99% guaranteed uptime.
- Give employees and contractors a wide range of advanced carrier-grade features such as auto attendant, voicemail-to-email, live call transfer, music-on-hold, and more.
Need some more numbers? 336-544-4000. When you dial that, you’ll connect with our smart and friendly staff who will learn about your needs, and answer your questions without any jargon or “geek speak” (unless you want geek-speak, in which case we can definitely do that!).
Then, at a time that is convenient to you and your team, we will provide you with a free live, guided demo that clearly shows how our hosted VoIP solution targets your unique, specific needs. We can visit you on-site for the demo, or provide it to you over-the-web. There is no risk, and the gains could transform your business’s bottom-line now and for years to come!