The Voice over Internet Protocol (VoIP) industry has thrived over the past decade due to the fact that it presented a cheaper alternative to landline phone calls thereby making it set for its unceasing growth as the business world continues to appreciate the benefits the technology can deliver.
George Van Horn, a senior analyst at IBISWorld, said that IP telephony has confirmed to be so popular because it allows companies to make substantial cost-savings on calls when compared to traditional landlines.
The recent data figure from Market Research Company IBISWorld declares that VoIP is the highest performing industries of the past decade, registering a revenue growth of 179,036 per cent between 2002 and 2009.
The VoIP Technology does not engage the same expensive network switching as wired voice calls, and also the geographic distinctions between incoming and outgoing calls are not made. Moreover, prices are similar from one fixed point to another.
The irony is that though the technology has been confirmed to offer cheaper alternatives to traditional telephone communication, many people do not use the service.
The survey conducted last month by home phone comparison website Homephonechoices. co. uk exposed that only 17 per cent of respondents claimed they used VoIP services.
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