The global residential VoIP services market size is expected to increase from US$ 22,102.1 million in 2023 to US$ 67,819.1 million by 2033. Over the projection period (2023 to 2033) global demand for residential VoIP services is forecast to rise at 11.9% CAGR.
Key Market Shaping Factors:
Residential VoIP is also referred to as Voice over Internet Protocol. It enables one to place and receive phone calls using the internet rather than relying on conventional telephone lines. By converting voice signals into digital data packets, VoIP technology facilitates the transmission of calls over an internet connection.
Residential VoIP services, leverages the exisitng internet connection to make calls, eliminating the necessity for a dedicated telephone line. This approach presents potential cost savings for long-distance and international calls.
Residential VoIP services frequently provide competitive pricing options and supplementary features such as voicemail, caller ID, call forwarding, and call waiting.
Rising demand for alternative communication services to traditional phone systems is expected to drive the global residential VoIP services industry swiftly. Growing popularity of mobile VoIP or internet-based phone services due to their various advantages will create growth prospects for the market.
The ever-expanding 5G network across the globe is set to create lucrative opportunities for residential VoIP service providers. It is expected to be a key factor to boost global residential VoIP services sales revenue.
Cost benefits of VoIP services over circuit-switched networks will act as a catalyst elevating demand in the market and the trend is expected to continue during the assessment period.
| Attributes | Key Insights |
|---|---|
| Estimated Residential VoIP Services Market Size (2023) | US$ 22,102.1 million |
| Projected Residential VoIP Services Market Value (2033) | US$ 67,819.1 million |
| Anticipated CAGR (2023 to 2033) | 11.9% |
| Top 5 Vendor Market Share | 34.2% |
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Global residential VoIP sales revenue grew at a considerable CAGR during the historical period from 2018 to 2022. Looking forward, the worldwide market for residential VoIP services is expected to thrive at 11.9% CAGR.
The growth of VoIP services in the residential sector is bolstered by the global expansion and enhancement of high-speed internet infrastructure.
As internet connectivity continues to improve and offer greater bandwidth availability, the quality of VoIP calls is enhanced, rendering it a more appealing choice for residential users. This will fuel market expansion during the assessment period.
Another key driver of the demand for residential VoIP services is the potential for cost savings. Residential users are drawn to VoIP due to its typically lower calling rates, particularly for long-distance and international calls, in comparison to traditional telephone services. This affordability factor appeals to individuals seeking economical communication options.
Feature-rich Residential VoIP Services Boosting the United States Market
The United States residential VoIP services industry is projected to thrive at 10.9% CAGR, reaching a valuation of US$ 11,503.7 million in 2033. In 2022, the United States held a share of 73.2% in North America market.
The United States is home to several leading companies that offer residential VoIP services. They also provide unlimited calling features, creating the potential to attract customers in large numbers.
Several end users can use their residential VoIP solutions for both personal and professional reasons. The strong presence of residential VoIP players and the plethora of features being offered to end users are key factors that will continue to boost the United States market.
Rise in High-speed Internet Connections Driving Residential VoIP Service Demand in Japan
As per Future Market Insights (FMI), Japan residential VoIP services market is forecast to thrive at a CAGR of 14.4% over the forecast period. Overall residential VoIP services sales revenue in Japan is anticipated to total US$ 5,555.2 million by 2033.
Increasing penetration of high-speed internet (5G) and rising popularity of Wi-Fi calling due to its benefits are expected to fuel demand for residential VoIP services in Japan.
Residential VoIP services industry is gaining popularity in Japan. Various international and domestic companies are competing in the Japan market. Call quality, pricing, features, and international calling ranges are important factors that determine the success of a residential VoIP service provider in Japan.
Principal Consultant
Need for Easy & Affordable Solution for International Calling Fueling International VoIP Calling Demand
Currently, domestic VoIP calling segment dominates the global residential VoIP services industry with an estimated valuation of US$ 14,863.8 million. On the other hand, demand for international VoIP calling is also expected to rise at a robust CAGR of 10.8% through 2033.
Rise popularity of remote working and need for easy & affordable solutions for international calling are key factors driving the international VoIP calling segment.
Residential VoIP solutions can provide an easy solution for end users to communicate with other people from different countries without any high investment in technologies or infrastructure.
Growth in remote work practices and the need to collaborate with employees and team members that are from different countries also act as factors that drive the demand for international VoIP calls.
Cloud Computing Solutions Making Pay-as-you-go Model Popular and Driving Revenues
The pay-as-you-go pricing model has gained popularity with the growing use of cloud computing services and solutions. The growth in residential VoIP solutions deployed on the cloud further influences the growth of the pay-as-you-go pricing model.
The pay-as-you-go pricing model also allows the end users to only pay for the services that they use and when they use them. This benefit of pay-as-you-go pricing model is making it extremely popular among the end users.
According to Future Market Insights (FMI), the pay-as-you-go pricing model segment is expected to progress at an impressive CAGR of 12.6% from 2023 to 2033.
Leading residential VoIP service providers are focused on providing audio quality that is better than their competition to gain an edge over them. While most companies are concentrated on providing the necessary software and devices for residential VoIP, various players are also focusing on providing supplementary features such as online account management.
Recent Developments:
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| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | US$ 22,102.1 million |
| Projected Market Value (2033) | US$ 67,819.1 million |
| Anticipated Growth Rate (2023 to 2033) | 11.9% CAGR |
| Share of top 5 players | 34.2% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ Million for Value |
| Key Regions Covered | North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan & Baltics; Middle East and Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Rest of Latin America, China, Japan, South Korea, India, ASEAN, Oceania, Germany, Italy, France, United Kingdom, Spain, BENELUX, Nordics, Rest of Western Europe, Poland, Hungary, Romania, Czech Republic, Central Asia, Russia & Belarus, Balkan & Baltics, GCC Countries, Turkiye, Northern Africa, and South Africa |
| Key Segments Covered | Service Location, Revenue Model, and Region |
| Key Companies Profiled | Verizon Communications; Zoom; DialPad; Vonage; Ooma; Nextiva; Aircall; CallTower; Grasshopper (Citrix); CallHippo; Open Phone; 3CX; Mighty Call; Frejun; Go To Connect |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Increasing application in end-use industries drives sales.
Growing usage of mobile VoIP apps is a key trend in the market.
The market is forecast to register a CAGR of 11.9% through 2033.
The market is estimated to secure a valuation of US$ 22,102.1 million in 2023.
The need for easy & affordable solutions for international calling fuels demand.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. VoIP Technology Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, by Residential VoIP Services
4.2. Average Pricing Analysis Benchmark
5. Global Market Demand (Value in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022
5.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.2. Forecast Factors - Relevance & Impact
6.3. Value Chain
6.4. COVID-19 Crisis – Impact Assessment
6.4.1. Current Statistics
6.4.2. Short-Mid-Long Term Outlook
6.4.3. Likely Rebound
6.5. Market Dynamics
6.5.1. Drivers
6.5.2. Restraints
6.5.3. Opportunities
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Service Location
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Million) Analysis By Service Location, 2018 to 2022
7.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Service Location, 2023 to 2033
7.3.1. Domestic VoIP Calling
7.3.2. International VoIP Calling
7.4. Market Attractiveness Analysis By Service Location
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Revenue Model
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Revenue Model, 2018 to 2022
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Revenue Model, 2023 to 2033
8.3.1. Pay-as-you-go Pricing
8.3.2. Subscription Pricing
8.4. Market Attractiveness Analysis By Revenue Model
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By Region, 2018 to 2022
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. East Asia
9.3.4. South Asia and Pacific
9.3.5. Western Europe
9.3.6. Eastern Europe
9.3.7. Central Asia
9.3.8. Russia & Belarus
9.3.9. Balkan and Baltics Countries
9.3.10. Middle East & Africa
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
10.1. Introduction
10.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.3.1. By Service Location
10.3.2. By Revenue Model
10.3.3. By Country
10.3.3.1. United States
10.3.3.2. Canada
10.4. Market Attractiveness Analysis
10.4.1. By Service Location
10.4.2. By Revenue Model
10.4.3. By Country
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
11.1. Introduction
11.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.3.1. By Service Location
11.3.2. By Revenue Model
11.3.3. By Country
11.3.3.1. Brazil
11.3.3.2. Mexico
11.3.3.3. Rest of Latin America
11.4. Market Attractiveness Analysis
11.4.1. By Service Location
11.4.2. By Revenue Model
11.4.3. By Country
12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.3.1. By Service Location
12.3.2. By Revenue Model
12.3.3. By Country
12.3.3.1. China
12.3.3.2. Japan
12.3.3.3. South Korea
12.4. Market Attractiveness Analysis
12.4.1. By Service Location
12.4.2. By Revenue Model
12.4.3. By Country
13. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction
13.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.3.1. By Service Location
13.3.2. By Revenue Model
13.3.3. By Country
13.3.3.1. India
13.3.3.2. ASEAN
13.3.3.3. Australia & New Zealand
13.3.3.4. Rest of South Asia and Pacific
13.4. Market Attractiveness Analysis
13.4.1. By Service Location
13.4.2. By Revenue Model
13.4.3. By Country
14. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction
14.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.3.1. By Service Location
14.3.2. By Revenue Model
14.3.3. By Country
14.3.3.1. Germany
14.3.3.2. Italy
14.3.3.3. France
14.3.3.4. United Kingdom
14.3.3.5. Spain
14.3.3.6. BENELUX
14.3.3.7. Nordics
14.3.3.8. Rest of Western Europe
14.4. Market Attractiveness Analysis
14.4.1. By Service Location
14.4.2. By Revenue Model
14.4.3. By Country
15. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction
15.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
15.3.1. By Service Location
15.3.2. By Revenue Model
15.3.3. By Country
15.3.3.1. Poland
15.3.3.2. Hungary
15.3.3.3. Romania
15.3.3.4. Rest of Eastern Europe
15.4. Market Attractiveness Analysis
15.4.1. By Service Location
15.4.2. By Revenue Model
15.4.3. By Country
16. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16.1. Introduction
16.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
16.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
16.3.1. By Service Location
16.3.2. By Revenue Model
16.4. Market Attractiveness Analysis
16.4.1. By Service Location
16.4.2. By Revenue Model
17. Russia & Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17.1. Introduction
17.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
17.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
17.3.1. By Service Location
17.3.2. By Revenue Model
17.4. Market Attractiveness Analysis
17.4.1. By Service Location
17.4.2. By Revenue Model
18. Balkan & Baltics Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033
18.1. Introduction
18.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
18.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
18.3.1. By Service Location
18.3.2. By Revenue Model
18.4. Market Attractiveness Analysis
18.4.1. By Service Location
18.4.2. By Revenue Model
19. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
19.1. Introduction
19.2. Historical Market Size (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
19.3. Current and Future Market Size (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
19.3.1. By Service Location
19.3.2. By Revenue Model
19.3.3. By Country
19.3.3.1. GCC Countries
19.3.3.2. Turkiye
19.3.3.3. Northern Africa
19.3.3.4. South Africa
19.3.3.5. Rest of Middle East & Africa
19.4. Market Attractiveness Analysis
19.4.1. By Service Location
19.4.2. By Revenue Model
19.4.3. By Country
20. Key Countries Analysis- Market
20.1. United States Market Analysis
20.1.1. By Service Location
20.1.2. By Revenue Model
20.2. Canada Market Analysis
20.2.1. By Service Location
20.2.2. By Revenue Model
20.3. Brazil Market Analysis
20.3.1. By Service Location
20.3.2. By Revenue Model
20.4. Mexico Market Analysis
20.4.1. By Service Location
20.4.2. By Revenue Model
20.5. India Market Analysis
20.5.1. By Service Location
20.5.2. By Revenue Model
20.6. ASEAN Market Analysis
20.6.1. By Service Location
20.6.2. By Revenue Model
20.7. Oceania Market Analysis
20.7.1. By Service Location
20.7.2. By Revenue Model
20.8. Australia and New Zealand Countries Market Analysis
20.8.1. By Service Location
20.8.2. By Revenue Model
20.9. Germany Market Analysis
20.9.1. By Service Location
20.9.2. By Revenue Model
20.10. France Market Analysis
20.10.1. By Service Location
20.10.2. By Revenue Model
20.11. Italy Market Analysis
20.11.1. By Service Location
20.11.2. By Revenue Model
20.12. United Kingdom Market Analysis
20.12.1. By Service Location
20.12.2. By Revenue Model
20.13. Spain Market Analysis
20.13.1. By Service Location
20.13.2. By Revenue Model
20.14. Nordics Market Analysis
20.14.1. By Service Location
20.14.2. By Revenue Model
20.15. BENELUX Market Analysis
20.15.1. By Service Location
20.15.2. By Revenue Model
20.16. Poland Market Analysis
20.16.1. By Service Location
20.16.2. By Revenue Model
20.17. Hungary Market Analysis
20.17.1. By Service Location
20.17.2. By Revenue Model
20.18. Romania Market Analysis
20.18.1. By Service Location
20.18.2. By Revenue Model
20.19. India Market Analysis
20.19.1. By Service Location
20.19.2. By Revenue Model
20.20. ASEAN Market Analysis
20.20.1. By Service Location
20.20.2. By Revenue Model
20.21. Oceania Market Analysis
20.21.1. By Service Location
20.21.2. By Revenue Model
20.22. Australia and New Zealand Countries Market Analysis
20.22.1. By Service Location
20.22.2. By Revenue Model
20.23. GCC Countries Market Analysis
20.23.1. By Service Location
20.23.2. By Revenue Model
20.24. Turkiye Market Analysis
20.24.1. By Service Location
20.24.2. By Revenue Model
20.25. South Africa Market Analysis
20.25.1. By Service Location
20.25.2. By Revenue Model
20.26. Northern Africa Market Analysis
20.26.1. By Service Location
20.26.2. By Revenue Model
21. Market Structure Analysis
21.1. Market Analysis by Tier of Companies
21.2. Market Share Analysis of Top Players
21.3. Market Presence Analysis
22. Competition Analysis
22.1. Competition Dashboard
22.2. Competition Benchmarking
22.3. Competition Deep Dive
22.3.1. Verizon Communications
22.3.1.1. Business Overview
22.3.1.2. Solution Portfolio
22.3.1.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.1.4. Key Strategy & Developments
22.3.2. Zoom
22.3.2.1. Business Overview
22.3.2.2. Solution Portfolio
22.3.2.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.2.4. Key Strategy & Developments
22.3.3. DialPad
22.3.3.1. Business Overview
22.3.3.2. Solution Portfolio
22.3.3.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.3.4. Key Strategy & Developments
22.3.4. Vonage
22.3.4.1. Business Overview
22.3.4.2. Solution Portfolio
22.3.4.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.4.4. Key Strategy & Developments
22.3.5. Ooma
22.3.5.1. Business Overview
22.3.5.2. Solution Portfolio
22.3.5.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.5.4. Key Strategy & Developments
22.3.6. Nextiva
22.3.6.1. Business Overview
22.3.6.2. Solution Portfolio
22.3.6.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.6.4. Key Strategy & Developments
22.3.7. Aircall
22.3.7.1. Business Overview
22.3.7.2. Solution Portfolio
22.3.7.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.7.4. Key Strategy & Developments
22.3.8. CallTower
22.3.8.1. Business Overview
22.3.8.2. Solution Portfolio
22.3.8.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.8.4. Key Strategy & Developments
22.3.9. Grasshopper (Citrix)
22.3.9.1. Business Overview
22.3.9.2. Solution Portfolio
22.3.9.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.9.4. Key Strategy & Developments
22.3.10. CallHippo
22.3.10.1. Business Overview
22.3.10.2. Solution Portfolio
22.3.10.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.10.4. Key Strategy & Developments
22.3.11. Open Phone
22.3.11.1. Business Overview
22.3.11.2. Solution Portfolio
22.3.11.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.11.4. Key Strategy & Developments
22.3.12. 3CX
22.3.12.1. Business Overview
22.3.12.2. Solution Portfolio
22.3.12.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.12.4. Key Strategy & Developments
22.3.13. Mighty Call
22.3.13.1. Business Overview
22.3.13.2. Solution Portfolio
22.3.13.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.13.4. Key Strategy & Developments
22.3.14. Frejun
22.3.14.1. Business Overview
22.3.14.2. Solution Portfolio
22.3.14.3. Profitability by Market Segments (Service Location/Revenue Model/Region)
22.3.14.4. Key Strategy & Developments
23. Assumptions and Acronyms Used
24. Research Methodology
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Residential VoIP Services Market
