Just as the nefarious (and hair-less) Dr. Evil in “Austin Powers: the Spy Who Shagged Me” came to discover, one billion is a really big number. For example, you could triple the current population of the U.S., and you’d still be about 30 million short. But as massive as it is, according to the number crunchers at Juniper Research, one billion is indeed the amount of VoIP phone system users worldwide predicted by the end of 2017.
However, where Dr. Evil was astonished, experts in the VoIP phone system space — including the team here at Votacall — are not surprised, because the surge of new VoIP phone system users has been gaining momentum for several years. According to market research firm MarketResearchStore.com, the global VoIP services market is poised to hit a staggering $140 billion in 2021 — up from $83 billion in 2014. And IBISWorld named VoIP as the fastest-growing industry in the world from 2000-2016, surpassing industries like e-commerce and biotech.
What’s more, rather than relying on hype and hope — which often fuels the growth in some industries, only to fizzle out and leave investors, customers and users racing for the exits — the reasons for the skyrocketing growth and widespread penetration of VoIP are fundamentally sound. Here are the 5 key factors driving the (cue Dr. Evil voice) “multi-BILLION dollar” VoIP phone service sector:
1. Cost Savings
Without question, the biggest reason that VoIP phone systems are spreading across the business landscape is cost savings (followed by even more cost savings).
For example, there is no hardware or software to purchase, install, configure and support. In addition, there are no long distance costs or user-to-user calling costs. Adding lines is also seamless and can be done in a matter of seconds, since there are no cables to lay or wires to install.
2. Total Mobility
A growing number of businesses have remote workers and distributed teams, as well as staff that spend at least part of their time away from the office. VoIP phone systems support total mobility, so everyone is connected on a centralized platform regardless of where they are located. Furthermore, end users don’t even need a special VoIP phone. They can plug into the system through their smartphone or even a softphone on their desktop at home.
3. Unified Calling Features
While executives like the cost savings of VoIP phone systems, end users like (some of them even love) the unified calling features that transform their work experience. Just some of the most popular and beloved features include voicemail-to-email, web conferencing, one-number-service, direct-inward-dial, and customizable auto-attendants to greet and route callers.
4. Business Continuity
Staying online to keep employees connected and ensure customers reach a human being instead of a “Sorry, your call cannot be connected at this time” recording is vital — especially for small businesses that must compete with large enterprises and need to demonstrate that they’re as just (if not more) reliable and responsive. VoIP phone systems feature 99.99% uptime and use multiple fallback strategies to ensure business continuity, including a geographically dispersed cloud-based infrastructure that keeps the system online even in the event of a local power outage.
5. Integrations and Innovations
Last but not least, VoIP phone systems support numerous integrations with class-leading SaaS solutions, such as Salesforce. And since the solution is cloud-based, all customers — and not just new ones — get ongoing innovations and upgrades.
The Bottom Line
One billion VoIP phone system users is a massive number and certainly worth noting. But we aren’t far away from marking two billion users, because the advantages and benefits of VoIP are not one-time wins. They are constant and ongoing. Simply put? The future of business telecommunication is VoIP!
To learn more about ensuring that your business reaps the rewards, contact the Votacall team today. Your consultation with us is free.
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