Thursday, November 21, 2019

The Growth Story of VoIP Technology

by Chrish (editor), , July 27, 2019

Since VoIP phone systems operate through the internet, there is no need for any expensive or complicated hardware or equipment.

Virtual phone systems are the greatest invention of the 21st century. They have modernized telecommunications worldwide and are now used to bring efficiency in a variety of industrial sectors. Medicine, education, retail, construction, and e-commerce are some important industries that have transitioned to virtual phone solutions. Global VoIP industry growth will grow at 9.1% CAGR between 2016 -2021.

Communication is the golden key to corporate success. The best companies make sure to have streamlined and affordable communication policies. Transparent and two-way communication is a necessity for operations management and to keep a conducive business environment.

Business phone number are an intelligent and comprehensive solution to modern communication requirements. Since VoIP phone systems operate through the internet, there is no need for any expensive or complicated hardware or equipment. It is a simple, hassle-free, and user-friendly communication system. It can be easily installed in just a couple of minutes.

Virtual phone systems offer certain advantages to businesses of all sizes. They can be personalized to create better long term relationships with clients. Another useful benefit of virtual phone platforms is that they can help to establish a strong presence in overseas markets. They facilitate robust interaction with local customers and give businesses a competitive edge in new markets. For example: If an organization has started operations in the United States, it would be a great asset to invest in the US virtual phone number. This would enable support representatives to provide quality service to US-based clients and also lend an air of credibility to the brand name.

Vital Landmarks in The Phenomenal Growth of VoIP Technology:

Virtual telephony is the current favorite buzzword in the business arena. Most organizations, right from new start-ups to huge multinational companies are ditching traditional wired phone lines and adopting virtual phone systems for their business communication.

  1. The trend of VoIP has shown continuous evolution in the last couple of decades. Here are some key landmarks in the growth of Voice-over-internet-protocol technology:
  1. The VoIP industry has grown steadily at a rate of around 9% every year since 2009. This progressive growth indicated the rapid adoption of virtual phone systems in the significant commercial regions across the world, such as North America, Europe, and Asia.
  2. By the end of 2019, only 6% of the entire US population will use traditional wired landline phone networks. The rest will move over to VoIP-powered modes of communication.
  3. Researchers have estimated the growth of the VoIP market to reach $140 billion by 2021.
  4. There are already over a billion VoIP subscribers worldwide, and the user base is expected to grow at an exponential rate. The value of the virtual telephony market is forecast to exceed $55 billion by 2025.
  5. Artificial intelligence and cloud-based systems are the future of VoIP. They provide quality service, enhance resiliency, and encourage seamless calling capabilities.
  6. VoIP technology is the way forward due to its environment-friendly nature. It eliminates the use of heavy cables and other equipment. This aspect makes it a popular green mode of communication.

The growth story of VoIP has been revolutionary. It is indeed a novel technology that can transform the modern workplace. The market growth is due to the ever-growing demand for cost-effective communication solutions that support enterprise mobility and expansion. Here are some compelling reasons that make business phone numbers a must-have asset in 2019 and beyond:

  1. Virtual phone numbers are very affordable communication platforms. They can easily fit into any organization’s budget as they have highly subsidized economic pricing plans. VoIP phone solutions are much cheaper than traditional phone networks. They can bring down communication expenses significantly in the long run and work well for companies that deal with a substantial volume of calls.
  2. Virtual phone systems have the power to increase customer satisfaction at the highest possible levels. Customers want instant service and do not want to wait to get in touch with support representatives. VoIP phone networks deliver speedy support and resolution as customer calls are immediately diverted to available agents. This goes a long way in enhancing client satisfaction and retaining valuable customers in the long run.
  3. It is the era of hyper-digitalization, and it is essential for workplaces to remain mobile. Virtual phone systems encourage remote work as employees can conduct business communication from any corner of the globe. They require a working internet connection to remain accessible at any time of the day. It increases team collaboration and boosts productivity – works never stops whether an employee is home, at the office, or any other location!
  4. Virtual phone platforms have several advanced features. Call analytics helps managers track vital metrics and deliver superior quality service to clients. Managers can also prepare reports that display key performance indicators and enhance decision making. User-friendly, agile and scalable, virtual phone systems are indeed a large medium that results in perfect two-way communication.

When it comes to choosing a communication system, you do not want to settle for anything other than the best. Virtual phone numbers are a smart investment for any organization. They can increase all-important bottom-line results and provide ultimate customer satisfaction. It is sure to give your organization a definite competitive advantage that will help it stand apart from the rest!

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