Worldwide business VoIP service revenue is expected to grow at a compound annual growth rate (CAGR) of 7 percent through 2017.
That's one finding in Infonetics Research's latest VoIP and UC Services and Subscribers report, which tracks service providers and their voice over IP (VoIP) and unified communications (UC) services revenue and subscribers.
"The VoIP services market is on track with our expectations for 2013," said Diane Myers, principal analyst for VoIP, UC and IMS at Infonetics Research. "Residential VoIP services make up the majority of revenue, but growth is being fueled by business services as SIP trunking and cloud unified communications continue to expand and find broader adoption with enterprises of all sizes."
The report says global residential and business VoIP services revenue rose 3 percent, to $33 billion, in the first half of 2013. Hosted PBX/UC grew the most of any VoIP service between Jan. 1 and June 30, as businesses, particularly larger enterprises, continue to turn to hosted services as a viable alternative to premises-based solutions.
SIP trunking jumped 23 percent over the second half of 2012, driven primarily by activity in North America, Infonetics said.