IP Phones Market Overview:
In this rapidly changing world of technology, IP phones market is projected to show major growth prospects during the forecast period. The continuous developments and increasing technological advancements are major factors leading to rapid adoption of IP phones services. An IP phone transports voice over a data network.
As compared to other regions, the IP Phones Market in North America is expected to witness significant growth. North America is expected to hold the largest market share and dominate the market of the IP phones market during the forecast period. U.S and Canada are anticipated to drive the growth of IP phones market. This is owing to the developed economies in that region. In addition to this, the region also has a well-established infrastructure and allows high penetration of devices, while the developed economies in these regions is another reason for the growth of IP phones market.
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IP Phones Market Key Companies:
Some of the prominent companies shaping the worldwide IP phones market include Mitel (Canada), Cisco Systems, Inc. (U.S.), Microsoft Corporation (U.S.), Alcatel-Lucent Enterprise (U.S.), NEC (Japan), Avaya (U.S.), Unify (U.S.), ShoreTel, Inc. (U.S.), Dahua Technology Co., Ltd. (China), Huawei Technologies Co. Ltd. (China), among others.
IP Phones Market Segmentation:
The worldwide IP phones trends in market segmentation analysis includes component, type, and end-user.
The component segment comprises hardware and software components. The software components segment can be split into DNS, TCP/IP, DHCP, SIP, and others.
Session Initiation Protocol (SIP) is a communications protocol for signaling and is easy to debug, implement, and integrate applications. Its common applications are in private IP telephone systems, in internet telephony for voice and video calls, along with instant messaging over internet protocol (IP) networks.
The types of IP phones are wired, Digital Enhanced Cordless Telecommunications (DECT) and Wi-Fi. Depending on end-user, the market caters to corporate consumers and individual consumers.
IP Phones Market Regional Analysis:
The global IP phones industry is split into the primary regions of Europe, North America, Asia Pacific and Rest of the World (RoW).
Asia Pacific is expected to achieve the highest CAGR during the review period. An invigorated market growth is perceived in the region as a result of advancement in the product portfolio that boosts its demand. The budgetary aspect on the part of the regional competitors within the market have become active. The region’s working environment is steering the industry towards greater heights. In addition, increasing business needs within the market is providing an advantageous backdrop for positive changes that could solidify market position in the near future.
In Europe, countries like the United Kingdom (U.K), Germany and France are projected to lead the IP phones market. The regional market growth is impressive, given the presence of well-developed infrastructure along with the rising adoption of technology and technological advancements. Eagerness to adopt new and advanced technologies coupled with surge in business needs are also expected to benefit the IP phones market in the region.
In North America, market proficiency is backed by the profitable nature of the assets in the region. Contenders in the region are dedicated to deal with any issues that could hamper the market growth rate. Moreover, high economic status can elevate the development in the market. Product launches and other effective marketing strategies are also adopted by the players, which takes them a notch higher than their rivals. To illustrate, in March 2019, Grandstream had reported that their WP820 WiFi Cordless IP phone is expected to be in compliance with BroadSoft’s BroadWorks platform. Service providers, as well as enterprises all across the globe that use BroadSoft’s Business Platform, will now be able to employ this advanced cordless WiFi IP phone to elevate their mobility as well as productivity.
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