Today, we’re going to explore some of the most valuable VoIP statistics for 2023.
Let’s get started.
Key VoIP Statistics 2023 – MY Choice
- VoIP market size will grow to $102.5 billion worldwide by 2026
- Mobile VoIP is accelerating at an incredible pace, to a value of $145.76 billion by 2024
- North America holds around 40% of the global market for VoIP
- Cloud telecoms is growing at a rate of 19.9% CAGR as of 2021
- Nearly 1 in 3 employees now work at remote companies, increasing demand for VoIP
- VoIP can save customers an average of 50% of their communication costs.
- 82% of companies report a cost saving when moving to the cloud
- VoIP costs are expected to rise by only 3% by 2024.
General VoIP Statistics 2023 : Individual and Corporate VoIP Market Size 2023
- VoIP market is expected to grow at a CAGR of 3.8% from 2022 to 2026, with an estimated value of $102.5 Billion by 2026.
- The global mobile VoIP market was valued at US$ 46.9 billion in 2020. Plus, it is estimated to reach a size of US$ 183 billion by 2027 — exhibiting a CAGR of 21.5% during the forecast period 2021-2027.
VoIP Statistics 2023: Residential and Business Usage
- There are over 3 billion VoIP service users worldwide (approximately).
- 63% of startups, 34% of SMEs, and 32% of large-scale organizations use a business VoIP system.
VoIP Statistics 2023: Cost Benefits and Savings
- Businesses can bring down telecommunication costs by 50% by switching to VoIP. Costs savings to businesses without accounting money spent on PBX hardware (telecommunication cost decreases by 49%) vs. accounting PBS hardware (decreases by 69%).
- Mobility increases responsiveness and decreases productivity delays, leading to improved customer interactions.
- Companies that integrate contact centers with unified communications see agent productivity increase by 50%, decreased user complaints by 80%, and improved time handling by 2.9x.
VoIP Statistics 2023: VoIP Technology and Software
- 69.5% of businesses consider reliability the most important aspect of their phone service. 19% consider communication costs, whereas 4% say flexibility is the most important aspect when choosing phone services.
- Find me/Follow me (77% of them cited it), conference calling (65%), and access to mobile IP PBX (58%) are the top features that helped improve team productivity.
VoIP Statistics 2023: Startups and Small Business
- Auto attendees (57% of SMEs cited it), automatic call distribution (29%), and internet fax (28%) are the top features used by small and medium-sized businesses.
- Lack of scalability (15%), aging systems (14%), and lack of PBX applications (13%) were the top reasons cited by small businesses for shifting to VoIP services.
VoIP Statistics: Challenges 2023
- 46% of all illegal calls worldwide are made via VoIP phones.
- Unbound phone numbers (28%) and explaining the same issue to multiple employees (16%) are cited as top pain points with outbound phone calls.
VoIP Statistics 2023: The Future of Business Communications and VoIP Trends
- The rise of 5G internet connection, artificial intelligence for customer support, smarter VoIP assistants, unified business communications technology, and video conferencing all are likely to impact the VoIP industry for better or worse.
5G will be a major driver for the VoIP sector, as the VoIP systems can provide a better quality of service. The time to connect to the network will come down from 10 milliseconds (on 4G) to 1 millisecond with 5G connections.
Also, BusinessWire reports that 95% of all customer interactions will be powered by AI, suggesting that existing call handling, and auto attendees features will further revolutionize and improve VoIP processes.
At the same time, the rise of remote work, especially since the pandemic, indicates that businesses cannot rely on their on-premise phone system anymore.
Nevertheless, Millennials and Gen-Xers prefer messaging and video chats more than phone calls. Additionally, businesses realize the benefits of video communications, given it reduces handle time by 70%. Plus, it has a close rate of 35% to 75%.
Needless to say, video technology is giving tough competition to VoIP (although the VoIP technology is growing). WebRTC technology — real-time communication in a browser using APIs — will merge with VoIP to bring a more seamless communication system.
Still, many businesses’ ever-increasing demand for UCaas and mobile UCaaS will increase VoIP use among businesses. And the rise of mobile phone preference among businesses suggests the increase in mobile VoIP users.
What Do These VoIP Statistics Mean for Your Business?
The VoIP statistics show that the Voice Over Internet Protocol (VoIP) system is not about just phone calls and definitely cannot be treated as just any other business telecommunication infrastructure.
Businesses save money, customer services can better represent the company, and employees (including remote work) can save personal time and productivity. Moreover, consumer pain points highlight how VoIP systems can help phone interactions with customers. Additionally, its ability to integrate with other software like ecommerce CRM tools are helping businesses store, organize, and analyze data related to consumer interactions conveniently.
So, if your company still hasn’t upgraded from a traditional phone line to VoIP systems, now is the time to choose the best business phone service and move to a more reliable and flexible system that makes your communication system intelligent.