What’s the difference between a semi-successful business and one that’s absolutely skyrocketing in its industry?
Skilled employees, long—term profitability, and above all, a cost-effective solution.
Why do cost-effective solutions make such a difference?
Well, a cost-effective solution saves more than just money, it saves time.
When it comes to saving time, switching to Voice over Internet Protocol (VoIP) telephone system can turn out to be the best business decision. We’re here to elaborate more on the topic for you – with our 16 VoIP stats!
Once you’ll read the VoIP stats we at HostingTribunal have prepared for you, you’ll know whether this service is the right choice for you.
Fascinating Facts about VoIP
- 3 billion people will become mobile VoIP users by 2021, approximately.
- With over $90 billion in revenue, Android OS will dominate the mobile VoIP market by 2024.
- 61% of businesses switch to a VoIP system — traditional phone systems are becoming a thing of the past.
- It’s estimated that by the end of 2020, the number of VoIP subscribers worldwide will be around 204,8 billion.
- New businesses experience a 90% reduction in start costs after the installation of a VoIP system.
- One company saved $1,200 just by having its 30 employees use VoIP services.
- Implementing VoIP system results in a 50% reduction in telecom costs for companies
- By the end of 2024, it’s estimated for the VoIP market to reach a staggering $194,5 billion market growth.
VoIP Stats 2021 (global market, the industry, businesses, mobile VoIP)
We’ll start with some of the most relevant VoIP statistics, that can hopefully, educate you on the importance of VoIP for any business.
You’ll find out how big the VoIP market is, whether it’s globally expanded or not, and how it can affect the productivity and profitability of your business.
1. By the end of 2020, nearly 204,8 billion users will use VoIP systems.
(Future Marketing Insight)
Yes, you’ve read that right.
In 2012, there were around 98,9 billion VoIP subscribers.
But, following the latest tech—trends, businesses are more open to the idea of implementing VoIP systems.
Also, more and more businesses are discovering the benefits of using cloud-based VoIP services and this number will only grow with time.
Now, it’s projected that by the end of 2020, the number of VoIP subscribers will be around 204,8 billion!
What about the current numbers, what do current VoIP stats tell us?
2. Total number of VoIP users will increase up to 350 million, by 2020.
Originally invented in 1995, it took a while until VoIP got the attention of the people who could actually visualize its worth.
It wasn’t until after 2008 that people started using VoIP more often and with the creation of Skype, it became even more popular.
Currently, it’s estimated that by the end of 2020, nearly 350 million people will use VoIP services, whether for personal use or business use.
Let’s check the business side first.
3. 35% of businesses have installed a VoIP technology.
Some businesses are just one step ahead of everyone else.
Blueface Business Communication conducted a survey in 2018, which included multiple types of companies, different in industry and size.
The executives of 35% of those companies have stated that they already use VoIP systems.
But that’s not the most promising discovery from the survey.
4. 61% of businesses are cutting down their traditional phone lines.
In the same survey by Blueface, 61% of the CEO’s have claimed to switch to VoIP service, once the current contract with their traditional phone line provider ends.
Perhaps some of them are late bloomers, but better late than never right?
Why is VoIP technology so popular among the business community?
It has a lot to do with saving costs.
5. On average, there are 30—50% savings after switching to a VoIP system.
The amount of saved money with one simple switch depends on the size of the company.
But, as the implementation of a VoIP system doesn’t require any additional equipment, it’s already less expensive than using an on-premise phone system.
Almost all companies see a significant reduction in telecommunication expenses, so if your business depends on phone lines, installing a VoIP system can be of real benefit.
But what do VoIP stats for startups tell us?
6. Startups witness a 90% reduction in starting costs by using the VoIP system.
Launching a company is not nearly as easy as seems. Especially in the beginning, when a lot of unplanned costs may arise.
The costs for setting up a proper means of communication may be unavoidable, but that doesn’t mean that they need to be high—priced.
Take VoIP systems for example. If businesses install VoIP systems, they’ll have a nearly 90% reduction on the initial start-up costs for communication. This is especially true for businesses that are constantly dependent on communication – fast-food chains and markets, the hospitality industry, the health sector, outsourcing agencies, and so on.
But there’s another benefit for small businesses and startups that want to install VoIP systems.
7. 77% improved productivity for small businesses by using VoIP features.
These VoIP statistics for improved productivity are especially important for small business owners to know because they can make a difference in the company’s productivity.
For example, one VoIP feature that’s used by businesses is Find Me/Follow me and it has shown to increase productivity by 77%!
Also, as there are no interruptions or disturbances between the calls, VoIP is often chosen as a conference call tool, and that has resulted in a 65% increase in productivity!
Employees have a lot to say about it too, reading from their own VoIP statistics.
8. 67% of employees find it better to handle phone calls with VoIP system.
When it comes to using VoIP services, not everything is always about saving money – it’s also about whether the employees are happy with the changes or not.
Luckily, employees are pretty open to using them.
That’s mainly because a VoIP system facilitates a lot of the operational tasks for them.
67% of employees have noticed a significant improvement in handling phone calls and 63% of them share the same opinion about messages.
However, the VoIP statistics about remote work are not to be underestimated, especially during times like this where all of our communication happens via the internet. 57% of employees have noticed improvements in remote work in general, just by using the VoIP system.
So, how much businesses can save on communication by switching to VoIP services?
9. Companies can save nearly 75% on communication costs.
Finding a telephone company, setting up the phone lines, paying for the service – all that costs money. But installing a VoIP system costs next to nothing because you already have everything you need to use the service.
That’s why once businesses adopt this technology, they experience a nearly 75% reduction in communication costs!
How much of the cost reductions is connected with mobile VoIP use?
10. Android dominates the VoIP market and it’s expected to reach over $90 billion by 2024.
Currently, there are over 2 billion Android users in the world, so there’s really no surprise here — the VoIP industry and Android work well together.
If the current rise of VoIP adaptation continues, it’s estimated that in four years, Android will not only dominate the VoIP market but will generate a revenue of $90 billion!
So far, all the VoIP stats are on the positive side of businesses, but what about the downside of not using VoIP? What do the VoIP statistics show us there?
11. In 2019, 83% of companies faced major problems due to communication issues.
One of the worst things that can happen to a business is to lose a customer or an employee as a result of a mistake that could have been easily prevented.
In 2019, 83% of companies reported that they have either lost a customer, ended an employee agreement, or missed a deadline, all due to issues related to communication.
Poor communication is the first indicator of the professionalism of a business and in 2020, with all the competition around you, you can’t afford to miss customers over this.
Let’s check VoIP market share numbers next.
VoIP Market Share
We looked at more generic VoIP stats, but now it’s time to see how well VoIP performs on the market.
We’ll elaborate on a few VoIP statistics that show the consumer behavior, VoIP demographics, and such, so you can get a clearer perspective of your users.
12. The US Is the Leading Country for Using VoIP System.
The US as a leader in VoIP stats it’s no surprise – it’s still one of the most technologically developed countries in the world.
However, switching to VoIP was a big change for anyone.
In 8 years, the number of residential telephone lines grew from 28 million in 2010 to 76,6 million in 2018! Somewhat similar was the growth of business telephone lines, with 6,2 in 2010 to 41,6 in 2018!
Although still below the residential numbers, with the number of benefits VoIP systems offer, more businesses will hop on this train.
13. Japan and France are second in line.
Next to the US on the list of countries with the highest VoIP numbers are Japan with 28 million users and France, with 21 million users.
However, as the center of technological development, countries from Asia Pacific and India will surely rise as one of the countries with more and more VoIP users.
Regardless of where your business is set, the user behavior is pretty similar.
And here are two VoIP statistics to prove it.
14. 60% of smartphone users use Google to find a business number and call It directly.
Google really simplifies the search for businesses of any kind, but it’s up to the business to provide relevant information.
The company’s phone numbers are directly shown on the first page of Google, so if a user uses a VoIP service, they can call the business directly, no other services required.
Well, that’s what 60% of all smartphone users do – because it’s easy and doesn’t require any additional service.
You thought phone services were dead?
15. 6 of 10 customers prefer to call a business by phone.
6 out of 10 customers will call a business after finding them online. Yes, emails and live chat software are not the best way to leave a good impression as a business.
So, if you want to stay on the list of favorite brands for your customers, be sure to invest in valuable communication lines.
What’s next for the VoIP industry?
How will the IP telephony industry develop?
What are the latest industry trends and what are you missing out on by not installing VoIP systems in your company?
16. The projected growth of the VoIP industry is 12% each year until 2025.
VoIP services are quickly becoming the standard of communication for international businesses but also domestic businesses with international clients. It’s all due to increased productivity and effectiveness and reduced costs for communication that businesses experience almost instantly after incorporating the VoIP system.
The way things are headed, it’s projected that the VoIP industry will grow 12% each year until 2025.
So, if you want to stay connected, VoIP might be the best solution.
17. The demand for 5G service will double up by the end of 2020.
5G is a technology built to change internet communication we
Over the last few years, one technology gained more online attention – the 5G technology.
The fifth-generation wireless network is built to change the way we use the internet – it’ll give us faster download speed, better connectivity, more capacity, and improved connection to different devices, especially VR or AI devices.
These benefits will encourage the use of VoIP services. In 2019, 25 operators started using a 5G technology and by the end of this year, that number is projected to double!
18. 7 out of 10 companies put mobility on the top of their priorities.
Our lives haven’t been the same since we started using smartphones and that’s particularly true from a business perspective.
By investing in proper mobile means of communication, businesses can witness a significant increase in productivity and efficiency.
A T-Mobile report from 2019 shows the 7 of 10 companies put mobility as their priority and this number will only go up. In that same report, it’s shown that on a global level, the costs for mobile solutions will reach $1,8 trillion in 2022!
This means only one thing – the number of VoIP users will increase as well!
These VoIP stats speak for themselves – it’s time to make the change and cut the landline.
It’s not only about not feeling excluded from the globalization that is happening around us and especially in the IT world, but there are actual measurable benefits from installing a VoIP system.
Aside from being an excellent communication tool, VoIP services can increase the employee’s productivity, enrich the entire customer experience, and increase the overall company’s credibility!
Don’t wait too long to make the switch.