VoIP becomes a $15 billion market

The VoIP industry has taken some interesting turns in the last few years. Skype kicked the market into overdrive as customers began to embrace the ability to make video calls through their computer free of charge. Now consumers have seen an influx of other options like Facetime on Apple devices and Google Voice.

While the free customer versions of the technology have a number of users, the more complex solutions that are being deployed by businesses have become a booming market on their own – one that has bringing in billions of dollars a year.

According to a report from IBISWorld, 30 million Americans are currently paying for some form of VoIP service and the market is expected to generate $15.4 billion in revenue. Actual VoIP usage is much higher as the study does not include those that use the free services mentioned earlier.

TJ McCue broke down the study in a recent Forbes article. According to McCue, VoIP is a revolution for consumers and business owners alike.

“VOIP technology has saved corporations, small and large, millions of dollars. There are dozens of providers outside of the big guys,”  wrote McCue. “Now, with super smart phones, you can get a simple app to call for free when you are on wifi and text for free, too. You’ll likely still need a cell phone, but use the internet for calling in 2013 while the savings are extraordinary and free.”

VoIP technology is helping connect the business world in a way like never before. As improved internet connections reach all around the globe, having a conversation with customers and vendors in another country can be done without a problem.

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