Future of VoIP Industry: Top 10 Rising VoIP Trends to Watch in 2024
- Last Updated: 28 Dec 23
- 15 min read
VoIP is like fire asteroids that have hit the world and made massive changes during the pandemic.
It seems like one of the cornerstones of many companies’ communication strategies. VoIP has connected all of us to one platform and made things more accessible to make and receive calls over the internet at reasonable costs and stay in touch from anywhere.
VoIP has made “Work from home” possible by helping the businesses establish remote work setup and remain operational during the pandemic. However, this pandemic won’t vanish like Thanos’s snap.
So, we need to emerge stronger from it. Testing and implementing new mainstream communication options, VoIP will still evolve.
Keep reading to find out the game-changing future of VoIP Industry trends this year that will shape IP telephony in the future.
Why are businesses shifting to VoIP & Cloud Communication tools?
In today’s market, every business needs to turn towards VoIP service providers for their central communication and understanding VoIP industry trends to see whether your business is using this VoIP technology to its full potential.
However, it has impacted every business, and any business can take advantage of this VoIP in the coming years to maximize their investment in this VoIP revolution.
Knowing better about the digital age, the future of the VoIP industry has enabled a tradition wherein every demand is available within a single click.
VoIP is helping businesses grow with the need for cost-effective communication solutions or services that can support enterprise mobility.
VoIP allows users to get flexible, effective communication with fulfilling all your business requirements such as calls, SMS, email, video conferences, and other communication methods, surprisingly all this at an operational, relevant cost.
One of the other advantages of VoIP, it reduces 30% of the phone bills and teleconferencing costs. Conversely, VoIP flexible communication systems can reduce costs up to 40% on local calls and 90% on international calls.
Moreover, these are some reasons that GlobalNews wire in 2019 estimated VoIP marketing growth up to $55 billion. It can grow its share over 50% in International VoIP calling services, up to 55% share in the internet protocol market for enterprises with more safety, security, and internet connectivity.
That is why every business is pushing them to “go global” in terms of improving their communication and collaborating with employees from anywhere. It increases VoIP services such as IP phones and cheap call plans.
Additionally, any business, including government agencies worldwide, is investing a considerable amount in VoIP and wireless telecommunication technologies such as 4G/LTE and the upcoming 5G network to make work better, more efficient, and perform powerfully.
These progressions and shifting to VoIP of every business have led to higher transfer speeds for high-quality voice and data services.
We can expect that the VoIP industry will continue to evolve and significantly impact how global business is conducted.
VoIP in Last Year: What was on Top in 2021?
The VoIP industry has always been in the limelight every year, and we can’t deny it permanently has something surprising inside its box. In 2021, implementing VoIP was new for everyone due to sudden changes in technology.
However, everything went fine in the end; some of the changes we saw that was on top in 2021:
- Beginning of Artificial Intelligence (AI) with VoIP
- Improve VoIP Call Center
- Responsive Machine Speech
- Merged with voice-first technology
- Upgrading with 5G networks
And all of these were possible with the help of top players in VoIP. They have provided the best services to make individuals be connected from anywhere.
VoIP impact on Business
The VoIP industry will have vast growth in 2024, with a compound annual growth rate (CAGR) of 15% from 2021 to 2027.
It is also projected that VoIP market revenue will lead to $194.5 billion by 2024. However, the most fantastic fact about implementing VoIP in business is that it will help companies save expenditure up to 30%-50%.
It will allow businesses to have smooth cloud-telephony services that help to access from anywhere.
Additionally, VoIP provides businesses leverages to support other communication and collaboration solutions like audio and video conferences. Overall, VoIP manages the calls, the group of servers that perform the call routing functions, and many more.
VoIP will be one of the most demanded platforms for any business that will hit like Stormbreaker of Thor in the real world.
So, it’s better to understand VoIP’s upcoming trends in 2024 and know the predictions to come in front of us and the market.
Top 10 Hot VoIP trends in 2024: Predictions to Come
The fear of the COVID-19 pandemic is on even in 2024; however, looking at the excellent phase, it has brought a powerful momentum change.
Everything from large businesses to solopreneurs, from school to small grocery stores, has to switch to remote work for the first time or implement a remote-hybrid system.
Conversely, the VoIP industry has been showing its adjusting needs of its customers to meet their demands and requirements.
It developed a CRM that unlocked several developments that can be seen as the prime indicators of where VoIP will be a permanent part of every industry.
Here are the top 10 VoIP trends in 2024 as per recent developments and adoption in the industries.
1. Big-Bang of 5G
VoIP and 5G can be dependent on one another in 2024. 5G is expected to have a vast radical change in internet connectivity.
5G is constantly working to improve the quality of video chat conferences along with internet-based voice calls and increment in communication speeds.
With the new introduction of 5G technology with VoIP, we can expect to reduce the vanishing of lousy call quality due to poor internet. We will get faster, more transparent, and more productive communication which is vital for any business organization from 5G in 2024.
We can even expect to be quick in real-time and processes. Most importantly, for the businesses needing to meet their company’s target when dealing with customers, 5G will be one of the most anticipated VoIP trends.
Some of the advantages we can see through 5G in 2024:
- Quick and enhanced communication speeds and response rates
- No VoIP jitter, latency, and response rates
- Better mobile broadband connection for internet users.
- Improved customer experiences
- Making your business more available and responsive on every platform
2. Coverage of AI
Artificial Intelligence surrounds us (AI) everywhere we look. From Netflix recommendations to social media feeds, AI entirely helps you to fulfill relevant updates.
Every business is looking to integrate Artificial Intelligence into accelerating their relations to improve customer support and provide more customized service.
VoIP and artificial intelligence may be inseparable terms in upcoming years because of speedy adoption and improvement.
The recent research of IDC states that some of the large businesses have already started to adopt AI and visioned into AI investments that can include $4.5 billion on automated customer service agents, $2.7 billion on sales process automation, and $2.7 billion on threat prevention.
Overall, AI can reach up to 95% of customer experience without humans by 2025.
For instance, the call center industry is already implementing AI (auto-attendants) to improve service delivery and provide self-help options.
It also helps them engage their customers in quick solutions, enabling call center agents to concentrate and respond quickly to more challenging issues.
AI helps to grow to predict customer behavior and provides invaluable insights to businesses. It also helps to get better ideas about how it can be beneficial to you and your business.
3. Unified Communication as a Service (UCaaS) at the peak
Unified Communication as Service will be one of the top business VoIP trends in 2024 as it brings all communication and collaboration demands into one platform.
However, a business must be in multiple locations with multiple offices worldwide and remote workers because of ongoing pandemics from the past few years.
With the start of COVID-19 lockdowns worldwide, unified communication has played a vital role in seamless communication and has become the key to normalizing routine operations for every business.
WIth UCaas, VoIP, and different applications such as Google Meet, Zoom, and Microsoft teams used them as their analog or virtual phone systems, video conferencing or calling or contact in real-time across businesses and governments education, health care, and service-based operations.
Unified communication hit like a bang and increased its value integrating everywhere. As UCaas grows, we expect the businesses and services combined to get seamless use of a secure, remote environment to continue their communication-based operations.
4. Support of Internet of Things (IoT)
The Internet of Things has always been there to optimize our production efficiency, and IoT has new opportunities for everyone. However, it has opened doors for VoIP.
In 2024, VoIP devices will not revolve around sending voice and video packets, but VoIP will be used for further interconnection with IoT.
It will play a vital role in recording the data and transferring levels to IoT. VoIP and IoT will bring revolution in business operation and make workplaces connected to have more functionality for their phone networks.
VoIP with IoT will bring great ability to transmit data to any location more reliably and securely and develop a level of digital intelligence to devices.
5. Mobile Devices with VoIP Everywhere, Anywhere
Mobile has become an essential element in our hectic lives. They are no longer used for only calling and texting but improvised in that it’s referred to as the mini-computer in today’s world.
It performs every task that a personal computer does with a single click. You check social media feeds, IM with your friends, or even do office work from the comfort of your place.
Moreover, VoIP is associated with mobility solutions for better communication. With the 5G network launch, the functionality of mobility solutions is already being manufactured, taking care of VoIP.
VoIP providers seek forward embedded app support systems that can help businesses take advantage of mobility. Surely, mobility in the industry will open up new challenges and opportunities.
Moreover, experts explain, “VoIP will make business calls, conferencing, and team meetings smoother and efficient on app-based virtual numbers with the mobile services.“
We can’t deny mobile communication solutions have been too helpful during the pandemic when people are meant to work from anywhere.
6. VoIP collaboration with WebRTC
WebRTC is an open-source standard and structure to make and run real-time communications in a browser using easy-to-use APIs.
It makes the VoIP system more flexible, so more companies are associated with it than other communication structures. WebRTC improves the VoIP experience with real-time calls and live video support and enhances peer-to-peer file transmission from the web browser.
In 2024, with the collaboration of VoIP with the webRTC platform, you can easily adapt ways to handle your business’ communication and no stress about extra plugins and widgets for various business communication functions.
7. Omni-Channel Support
VoIP services providers are focused on implementing Omni-Channel as it retrieves every unified communication such as live chat, messages, emails, calls, and for the better customer support package.
Omni-channel is for everyone. It attracts and retains clients to know more about your excellent service and makes them comfortable through its unified chatbox to chat with you on your platform of their choice.
Moreover, in 2024 omnichannel is viewed as the support and a place to talk to all of your business and will be a leading way for VoIP tools to collaborate for better live chat video conferences.
8. Blooming Security
Internet accessibility is still vulnerable, including cyberattacks, phishing, network intrusion, system misconfiguration, stolen records/information, cybercrimes, and breaches which are also considered disadvantages.
According to Statista of 2020, cyberattacks have raised their percentile. It includes 38% of phishing, 32% network intrusion, and 12% of inadvertent disclosure. Conversely, look at the articles of GlobeNewswire of 2021, the number of cyber-attacks has increased to 15% worldwide compared to 2019.
However, associating with VoIP internet security has uplifted to another layer of privacy and security and can be one of the VoIP trends worth watching.
It will prepare companies to roll out VoIP for their communication. Moreover, even for cybersecurity vendors providing VoIP protection, they can focus more on minimizing its risks, including organizations performing highly regulated industries such as Healthcare, Defense, Pharmaceuticals, Finance, or for the vast business having a volume of sensitive information.
9. Increment Adoption in Academics Sector
It is expected that VoIP will grow over 18% with the extensive use of IP phones and softphones applications, and it’s likely to be one of the prevalent VoIP trends as the demand for mobility arises.
Looking at the current situation of the pandemic, we expected VoIP in education institutions to be more popular than ever, not only among employees and teachers but even with the prospect of students.
VoIP has prompted a lot for remote learning, which is one of the priorities implemented quickly to deliver education and be a reliable backbone for interactive software use.
VoIP will deliver long-term benefits to enhance communication between multiple locations, provide valuable security tools, and great collaboration among different facilities among the students, educators, parents, and administrators.
10. Farewell to Traditional Phone System
According to Statista, in 2004, 90% of households used landline phones, but as the time was revolving, landline phones were cut to half only in the US in 2018.
However, the increment of cell phones increased 50% between 2004 and 2018, and it was time for VoIP to conquer the communicating means.
Now, we can see cell phones having some features of VoIP on every individual’s hands for communication, which enforces more companies to invest in VoIP.
Among all, VoIP is ahead for support for chat, SMS, email, video calls, phone calls, and social media, and providing all sorts of ways to communicate.
As a result, we will watch businesses keep engaging their customers via various platforms that will be an integrated way to connect with people and give an excellent experience for VoIP channels in 2024.
Future of VoIP Industry After Covid Pandemic: We May See in Upcoming years
Covid pandemic has brought us to be hard! We can’t deny that the things we have adapted will vanish after the post-pandemic.
As we are still facing the effects of the COVID-19 pandemic, business operations in upcoming years and beyond will watch the maximizing VoIP platforms that will help you stay ahead of the pack.
Working together with the following trends of VoIP technologies in your business, you’ll get the benefits of more effective team collaboration, crystal-clear communication, and a better customer experience.
Here are some of the VoIP trends after the COVID pandemic in upcoming years.
- Work from home will be prevalent.
Big companies have already made WFH a permanent choice for the smooth running of their business. As WFH is not the need of the hour but the future of work, it is understood by various companies and planning to adapt for their permanent option.
- Cloud dependence at the peak
As WFH will be our habitat, we need to connect for everything in real-time as well all the necessary services on the cloud will remove the requirement of meeting physically.
However, looking at the increment of distributed, global workforce, small and mid-sized companies, cloud dependence will be more tempted rather than the establishment of permanent headquarters.
- Increment of UCaaS value
Unified Communications as a Service combines different tools, including social media, messaging, email, voice, and video call platforms, and into one platform.
UCaaS is an easy-to-use platform that works seamlessly but may require the assistance of VoIP tech experts, which can involve third-party vendor supplies and set up all the key components that will be needed in their VoIP systems.
- Academics on the tech-insight
Schools, colleges, and educational institutions have been closed for the long term and VoIP is at its peak for continuing operation. And, this doesn’t stop here! The use of UCaaS in the education industry benefited greatly.
Teachers, professors, and students had no option but to use a computer/mobile/tablet to conduct/ attend classes. It will continue in upcoming years too, will be adapted through the world as homeschooling, and will encourage less physical presence in the future post-pandemic world.
- Upskilling will be one of the keys to growth.
Upskilling is the significance that has risen manifold before the pandemic. The business has to find new ways to sustain and turn a profit. There is no room for company politics in post-pandemic culture with upskilling.
It provides a secure way to prove your point and take action under the company’s laws.
To Sum Up VoIP : The Future of Telephony Network
VoIP is the one thing to look forward to the application and ways we will watch in the future technologies, but it is crucial to understand how the organizations will take VoIP as their needs.
We are sure VoIP will continue its evolution in features such as call quality, video calls, and conferences and expect future technologies to drive it into a central position in any business’s communication and business strategies.
However, VoIP’s main components to make it more successful are VoIP providers like KrispCall.
KrispCall is cloud-based telephony offering radically better call quality, better integration with the full feature options used by the business, and flexibility, which scale up and down and provide personalized opportunities for different parts of the organization.
KrispCall has always offered cost savings to businesses through affordable prices, affordable maintenance costs with new efficiencies, boosted quality, features for better performance which is the perfect fit for the future of the VoIP industry.