The global VoIP (voice over internet protocol) market is expected to reach $102480 million by the end of 2026.
VoIP technology has allowed the market to grow at a fast rate, changing the way businesses communicate forever.
As more and more companies become reliant on VoIP as their primary communication method, it’s important to keep on top of the latest trends and benefits that can be gained from one of the fastest-growing communication methods.
Advantages of VoIP technology
The main benefits of VoIP include:
- Reduced line rental costs
- Reduced call costs – reducing your monthly bills
- Built-in voicemail
- Voicemail to email – meaning you can receive your messages wherever you are
- Make and receive calls wherever you are
- Reduce multi-site costs by having extensions in multiple locations
- Free calls between employees
- Economical international calls
2020 has seen the biggest rise of home working in history, a cause of the rise of VoIP usage. In April 2020, 46.6% of people in employment did some work at home, mainly because of the pandemic. However, it is predicted that many employees can expect to see a permanent shift towards home working in a post-covid world.
VoIP technology trends to watch in 2021
We describe the top five VoIP trends to keep an eye on next year and the benefits they could bring your company.
5G has created new opportunities for people, businesses and technologies across the world, and VoIP is no exception.
The fifth-generation wireless network technology could improve call quality and provide faster connections and increased capacities for VoIP users. 5G could also eliminate call interference and data lost, improving the quality of VoIP calls even further.
Integrating 5G technology with VoIP will improve response rates and customer experience, whilst keeping you ahead of your competition.
Increased Artificial Intelligence (AI) usage
AI and VoIP are two of the fastest-growing technologies of all time. Combined, they have the power to dramatically enhance a company’s customer service offering through analysing speech patterns and providing real-time call translations to prevent language from becoming a barrier.
AI technology is predicted to be able to predict a customer’s behaviour over the phone in the future. Providing valuable insights into the customer will allow companies to adapt their approach to customer service based on the type of customer they are.
AI has allowed the technology behind virtual assistants to become so advanced that they can help everyday tasks such as routing calls or diverting calls to voicemail. It is expected that this technology will also be used in the future to collect customer information and help provide a more personalised service to customers.
Mobile unified communications
Mobile technology has opened up new ways to be productive and work efficiently while on the go. A mobile VoIP system allows businesses to communicate with people faster and makes it easier for professional business calls and conferences to take place.
VoIP and WebRTC
WebRTC will enhance VoIP technology through its ability to provide real-time communications such as instant calls and live video support. Direct calls from web browsers and file-sharing will also become seamless thanks to the combined technology, eliminating the need for additional plugins and widgets.
Keeping your phone lines open for your customers is key. New blockchain technology is predicted to simplify the process of switching phone service providers or numbers by providing a standardized access and routing option for all operators. Mobile Number Portability (MPN), Local Number Portability (LNP), and Do Not Call (DNC) registries will become a big part of the technology businesses use in 2021.
Embrace VoIP technology
VoIP is here to stay and will shape how businesses, employees and clients communicate with each other for many years to come.
Why not embrace the benefits of VoIP technology and enjoy a more reliable, affordable and faster method of communication? Call today to find out more about our VOIP services.