VoIP market continues to grow, $65 billion projected by year’s end

Traditional telephone solutions have one foot in the business technology grave. The rise of VoIP solutions, which offers lower costs and better communication options, have created a strong new market that many companies are taking advantage of. The new technology is also far reaching on a global level.

Business information and research firm Visiongain, released a new report on July 26 that looked at the global VoIP market. According to the study, spending on internet-based phone solutions will reach $65 billion by the end of 2012. There are a number of options and providers in the market, but as a whole the VoIP landscape has a positive trend in front of it.

"VoIP simultaneously represents a huge threat to mobile operators as well as a significant opportunity for growth and the only barrier to success lies with strategy," says the report. "VoIP can no longer be throttled by operators, instead it must be adopted and the telecoms landscape must change in accordance."

According to the report, continued financial uncertainty and slow economic recovery has caused companies to perform a closer examination of budgets and spending, which has created the market place of VoIP growth. As traditional phone systems lose traction with businesses, those companies need new resources and the internet-based communications system market is benefiting.

Investing in a VoIP system can benefit a number enterprises in any vertical. Businesses in Ohio that are interested in deploying a VoIP phone system would be wise to partner with an IT consulting firm to get prepared to implement a BYOD policy.

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