VoIP is perhaps the greatest industry to emerge in communications in recent decades, and it’s still experiencing momentous growth. In fact, global demand for VoIP services was valued at over $83 billion in 2015 and is expected to exceed $140 billion by 2021, representing a CAGR of over 9 percent. The continued rise of hosted/managed platforms and IP connectivity has propelled the world into a world where VoIP is simply impossible to avoid.
A 2015 survey conducted by Statista found that 50 percent of U.S. households still have an operating landline telephone. Conversely, more than half of adults aged 18-44 say they live in a wireless-only household. Similarly, many businesses are transitioning away from traditional landline (i.e. copper, analog, TDM) networks to more advanced, scalable and affordable technology—like VoIP, which converts audio into digital data and sends it via broadband Internet (fiber optic, DSL or cable).