The latest market research is out and landlines are quickly being replaced by VoiP technology throughout the telecommunications industry. This trend is predicted to continue for the unforeseeable future, and here’s why.
VoiP, which stands for voice over internet protocol, transmits voice and multimedia communications over the Internet, instead of traditional analog lines. These original lines were good at the time, but as technology has advanced, new needs have arisen within the telecommunications world, creating a need for a different type of voice transmission. This new technology is being utilized by residential customers and businesses alike.
One of the biggest benefits of VoiP technology is the setup process. It’s very easy and requires no technical or professional experience in telecommunications. The VoiP equipment and software connects directly into existing internet connections, and can be used with corded and cordless phones. Many VoiP service providers also have phone plans that include free features such as caller ID, call forwarding, 3 way calling, do not disturb, voicemail, and call waiting.
In the latest Global Mobile VOIP Market 2016-2020 report by Wise Guys Reports, this market is expected to grow 28% within the next 4 years. With this expected growth rate, it’s clear VoiP isn’t a trend that’s likely to go away any time soon. Across the world, companies are investing heavily in these services to streamline their business and increase profits. It seems clear; VoiP is here to stay.