The IP telephony market is expected to reach $10.96 trillion by the end of the 2022-2032 forecast period, growing at a compound annual growth rate (CAGR) of 8.3%, according to a recently published report by Fact.MR. As of 2022, the market is poised to reach $49.4 billion, yielding a dollar opportunity worth $60.2 billion throughout the forthcoming decade. Significant increase in AI implementation in the IP telephony market have pushed sales to new heights.
Demand expanded significantly from 2017 to 2021, registering a growth rate of 8.9% to be valued at $29.5 billion. As countries strengthen their communication systems, investments in furthering IP telephony are rising. Due to the superior broadband speed, minimal upfront investment, reliability, flexibility, and lots of advanced features, the global IP telephony market is experiencing an exponential growth.