Disrupting Wholesale Telecom: VoIP Market Trends and Predictions
When considering the telecommunications and technology ecosystem, change is simply inevitable. The ways in which we communicate with the world and conduct day-to-day business operations is continually disrupted by emerging technologies, not least of which includes VoIP transmission. Successful organizations have learned to adapt to these changes and take advantage of the opportunities presented, allowing them to reap the benefits of cost savings, enhanced reliability, simplified Unified Communications (UC) and more associated with making the switch to wholesale VoIP services.
Traditional practices of Time-Division Multiplex (TDM) communications technologies are going by the wayside as more businesses opt for VoIP transmission services. As evidenced by the below chart, since its introduction in the early 2000s, VoIP has steadily gained increased market share across international communication traffic.
In addition, according to a recent study by Transparency Market Research, the global VoIP market is forecast to experience a Compound Annual Growth Rate (CAGR) of 9.7 percent between 2014 and 2020. When translated to monetary value, this equates to an increase from approximately $70.9 billion at the end of 2013 to an estimated $136.76 billion by 2020. Adoption of VoIP both within the home and the workplace will contribute to this growth with a predicted 348.5 million subscribers by 2020.
Though this growing technology may provide many benefits, VoIP and UC services also present multiple challenges to users and providers. Managing and tracking network routing can be a complex task, as organizations including Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Tier 1 carriers, retail players, enterprise customers and service providers seek cost-effective solutions for maximum redundancy and transparency. For providers and carriers looking to share their services, buying, selling, trading and bidding are necessary processes that can quickly become cumbersome when attempting to reach a large community of users.
In response to these challenges, BridgeVoice™, a global leader in retail and wholesale VoIP termination services, has provided a solution through an Automated Carrier Platform. This platform is designed to provide wholesale VoIP service providers and carriers the ability to buy, sell and trade a wide range of high-end VoIP termination services and routes. This process takes place across a global network of operators through a secure, easy-to-use online portal. This platform is a revolutionary way to access a worldwide network of suppliers and meet capacity demands with guaranteed quality assurance, allowing users to benefit from efficient network management, maximized network redundancy, transparency, and quality-based routing at competitive pricing.