According to a new report, published by KBV research, The Global Enterprise Voice Communication Equipment Market size is expected to reach $11.4 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 8.1% during (2023 - 2030). One key factor fueling the expansion of the enterprise voice communication equipment market is the implementation of cloud-based communication services. Reliable and effective communication methods have become increasingly important as remote & flexible work arrangements become more common; a trend that has been accelerated by situations like the COVID-19 pandemic.
The IP Phones segment is leading the Global Enterprise Voice Communication Equipment Market by Type in 2022 thereby, achieving a market value of $4.1 billion by 2030. An IP phone, commonly referred to as an Internet Protocol or VoIP phone, is a type of phone that transmits voice calls over the Internet instead of conventional phone lines. IP phones frequently provide lower distant communication and international call rates when compared to conventional phone networks.
The Switches segment has shown the high growth rate of 6.3% during (2023 - 2030). The network switches' capability to route data straight to the intended receiver allows them to send data at a rate that is faster than other networking hardware. Additionally, network switches' ability to offer security features like VLANs, which separate voice traffic from other forms of data on a network, is assisting the market expansion.
The Large Enterprises segment acquired the maximum revenue share in the Global Enterprise Voice Communication Equipment Market by Enterprise Size in 2022, thereby, achieving a market value of $8.6 billion by 2030. The enterprise voice communication equipment market is fiercely competitive, with various rivals competing in several categories. As more significant businesses transfer their business processes to the cloud, there is an increasing need for voice communication technology that enables seamless collaboration across various platforms and devices and is also simple to integrate with current systems.
The BFSI segment would display a CAGR of 5.7% during (2023 - 2030). To handle consumer questions, complaints, and requests for assistance, banks & financial institutions use voice communication equipment, including call centers and AVR systems. Banks and other financial organizations can notify their staff about important company initiatives, directions, procedures, and regulations with voice communication devices. Additionally, the segment is expanding due to the use of voice communication technology to protect massive amounts of data.
The North America region dominated the Global Enterprise Voice Communication Equipment Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.8 billion by 2030. The Europe market is poised to grow at a CAGR of 5.9% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/enterprise-voice-communication-equipment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Microsoft Corporation, IBM Corporation, Apple, Inc., Samsung Electronics Co., Ltd. (Samsung Group), 8x8, Inc., ADTRAN, Inc., Speedflow Communications Ltd., MDS Gateways, PanTerra Networks, Siemens AG.
By Component
By Type
By Network Equipment
By Enterprise Size
By Industry
By Geography
Companies Profiled
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