Regardless of their size or market share, carriers need an expansive telecommunications portfolio to keep up with their competitors and the rapidly advancing industry.
On the flip side, businesses, from enterprises to SMBs to individual entrepreneurs, need reliable, efficient telecom solutions to meet their communication needs. Demand on both the carrier and business side is resulting in a heightened need for telephony service all around, specifically in the area of IP-telephony.
Indeed, the VoIP market is taking off, and you’d be hard pressed to find a carrier that wasn’t onboard with the industry’s IP-transition. In fact, a recent study from Transparency Market Research revealed that the global VoIP services market will generate revenue worth $136.76 billion and reach a subscriber base of nearly 348.5 million by 2020.
It’s no surprise that the market is continuing to burgeon, as the business advantages afforded by VoIP telephony are numerous. For instance, carriers can now offer businesses of any size the ability to communicate via Internet-based phone lines as opposed to traditional on-premises copper wires—which engender speedier communication and heightened reliability. In doing so, carriers can better serve their customers with a streamlined version of communication that mitigates the need for on-site repairs as phone calls are conducted over an Internet connection.
Additionally, once carriers provide VoIP to their customers—whether they are Fortune 500 companies with hundreds of employees or a local computer repair shop with just a few hands on deck—the world of communication possibilities becomes endless. And because VoIP in and of itself is a cost saver, many businesses are adding on more sophisticated features, such as unified communications (UC) to experience a comprehensive telephony experience.
In effect, UC enables businesses to communicate over a myriad of channels in near real time whether they’re on-the-go or in the office. The need for more robust telephony is at an all time high and a great majority of today’s businesses take advantage of UC features such as instant chat, voicemail-to-email, Web conferencing as well as mobile capabilities so they can stay connected at all times.
With that said, it’s clear that the race is on to be the best of the best in the VoIP market—as most carriers large and small offer these services. These services are becoming business necessities, rather than luxuries, and they are therefore increasingly in demand. In fact, even Google announced that it’s becoming a wireless carrier in the near future. In doing so, it will be able to integrate its search, email and other features into a mobile phone services as well.
With innovations taking place throughout the market, carriers that have been in the VoIP game all along must evaluate their own portfolio of offerings. For example, VoIP as a standalone is now a gateway for carriers to provide further IP enabled capabilities that leaders in the business world are demanding like UC. As such, carriers are expanding their horizons and beginning to offer as many business communication options as possible, from cloud hosted solutions to virtual phone systems.
So whether you’re a mid size carrier that’s offered VoIP for years but is now just starting to expand your portfolio, or a phone carrier giant that offers everything under the sun, there is always room for improvement. That is, there is always a new technology you need to embrace to further fulfill your customers’ needs, the end-user experience and to boost your own bottom line.
And since the VoIP market is booming you can rest assured that your carrier business will be successful for as long as businesses demand IP-enabled communications. So why not continue capitalizing on this winning streak by improving other areas of your portfolio of telecommunications offerings?
Click here to learn just what type of service companies like you can implement to become more than just another VoIP carrier.