Thinking of switching your company over to a VoIP-based system? Here are some statistics that might help make your decision easier.
Cost Savings Of Up to 90%
It’s no secret that VoIP helps businesses save money. In fact, that’s one of the main reasons why businesses switch to VoIP.
Tech.co reports that businesses don’t just save a little money on VoIP. They save a lot. For example:
- Small businesses that switch to VoIP reduce the cost of their local calls by up to 40%
- Those same small businesses reduce the cost of their international calls by up to 90%
- VoIP can cut initial startup costs for a new business by up to 90%
VoIP Is Becoming More and More Popular Every Year
VoIP is becoming the best choice for companies looking to save costs, enhance convenience, and give employees the tools they need for a modern, efficient workplace. That all sounds good – but what do the stats actually have to say about it?
- IBISWorld states that the VoIP industry’s contribution to the economy, also known as their industry value added, is expected to increase at a rate of 15.3% every year until the year 2017, which means VoIP companies are clearly growing even amidst these uncertain economic times
- The combined business and residential VoIP industries are expected to be worth a total of $74.5 billion by the end of 2015, according to one study by Infonetics Research. This industry value is expected to grow for two reasons: first, because VoIP companies are making more money; and second, because VoIP is expected to be an essential service well into the future.
- That same Infonetics report revealed that VoIP subscribership grew by approximately 14% year over year since 2009
- In a press release from Juniper Research, that firm announced that the total number of mobile VoIP users is expected to be 1 billion by the year 2017 (and that’s just mobile VoIP users)
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America’s Oldest Phone Company is Testing All-VoIP Phone Networks
It was only a matter of time before major carriers started going all-in on VoIP.
In 2014, AT&T began testing all-digital IP phone networks in two American cities, including West Delray Beach in Florida and Carbon Hill in Alabama.
AT&T launched this project because their ultimate goal was to abandon legacy switched telephone networks (like the PSTN and POTS we use to connect traditional landlines and mobiles) in favor of a system where all voice, data, and video information is shared over IP.
Of course, AT&T isn’t the only company that has started investing significant resources into VoIP. Other major developments include:
- In September 2014, Google Voice was integrated into Hangouts, giving Google an all-in-one calling system based entirely over IP
- Facebook’s free VoIP calling was launched in Facebook Messenger in April 2014, turning the IM app into a VoIP video and voice calling app
- WhatsApp has had mobile VoIP in addition to traditional messaging since March 2015
These companies aren’t doing this because they think VoIP could be the next big thing: they’re doing this because VoIP is already here and companies that don’t invest significant resources in its development today will get left behind tomorrow.
Market Research from Statista Shows VoIP is Growing Faster Than Many Of Us Expected
Market research published on Statista.com revealed some surprising information about VoIP’s growth over the past few years. That research, for example, shows the following:
- In 2011, 147 petabytes of data were sent using VoIP communications platforms.
- By 2015, that number had risen to 156 petabytes of data. It’s expected to reach 158 petabytes in 2016.
- The biggest explosion in VoIP adoption occurred between 2008 and 2012, but growth around the world remains steady to this day
Statistical Benefits of Switching to VoIP
At the top of this list, we talked about the monetary gains your company could enjoy by switching to VoIP. Here are some other major benefits of switching to a VoIP system.
Approximately 50% of a voice conversation is silence. VoIP fills the empty silence spaces with data so that the bandwidth in data communication channels is not wasted. In other words, this “silent” data can be put towards things like Netflix streaming. With traditional phone lines, the two ends are constantly sending data to one another – even if that data is just silence.
Other data savings in VoIP include compression and the ability to remove redundancy in some speech patterns, all of which adds up to more efficient data usage around the world
Ultimately, the only cost you have when switching to a VoIP network is your monthly internet bill to your ISP (when you switch to free VoIP services at home). VoIP business plans typically cost a little more, but still provide enormous savings over traditional phone lines).
Go Green and Reduce your Business’s Environmental Impact
Even if you don’t care about the environment, some of your customers probably do. That’s why many businesses appreciate switching to VoIP systems.
Some of the biggest savings of VoIP systems come from virtual faxing. Many providers bundle virtual faxing with their VoIP system as a bonus.
Online faxing saves time and money for your business in so many different ways. Every year, traditional fax machines handle somewhere between 20 and 100 billion faxes worldwide. Virtual faxing means you never have to print out a fax again if you don’t need to. Think of the billions of pages you can save.
Whether it’s environmental benefits or future growth for your business, these VoIP statistics should give you a clear picture of the future of the VoIP industry.
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Many businesses are moving away from analogue phone lines and systems in favor of VoIP. Good article. Thanks for sharing.