A significant number of businesses around the world have already switched to VoIP as it ensures great services and features at relatively less costs, reduced expenditure on equipment and support for multiple calls at the same time. The rising adoption of VoIP systems can be attributed to the efficiency, high quality and cost-effectiveness of VoIP. Considering that the business VoIP phone systems use cloud services, it offers complete flexibility and mobility to employees, while keeping them connected no matter their location. An active internet connection is the only requirement for staying connected on the move.
More and more organizations are now relying on VoIP service provider companies, allowing them to carry out business as usual during the uncertain times of COVID-19. The organizations using VoIP quickly adapted to remote working as it became the new normal during the global pandemic. Employees working from home could use a considerable number of office functionalities from home, making it easier for them to get their work done during nationwide lockdowns, all thanks to VoIP.
This has led to a rise in the demand for cost-efficient business communication solutions, which in turn is paving the way for new technologies and ideas to be implemented by service providers and A-Z VoIP Wholesale providers. The following trends will play an important role in helping the VoIP sector to evolve post COVID-19.
Artificial Intelligence (AI) have found takers in all sectors for its automated functionality and interminable potential. AI can be instrumental in improving customer service by recognizing speech patterns and mood to connect with the right agent. Self-help options are already being used widely by call centers for quick grievance redressal of simple problems without the need for involving an agent. This gives them the freedom to focus on more challenging concerns which need human intervention. AI-based bots are being accepted whole-heartedly by companies to analyze and predict customer behavior for actionable insights to improve the processes. Implementing these AI functionalities in VoIP systems can automate a lot of processes, thus helping companies save time and eliminate errors. The insights into customer behavior gathered using AI can help devise strategies to accelerate business expansion.
Cloud services are the most sought after in the current scenario. They allow companies to make the most of latest technologies and new versions of software and applications without investing in expensive equipment or upgrading infrastructure. The cost-effectiveness of hosted solutions, combined with the need to stay home and work remotely during the pandemic has led to an increase in the adoption of hosted solutions. Hosted Unified Communications platforms offer instant access to data along with facilitating audio and video communications via any internet-enabled device. Along with offering flexibility and accessibility, hosted solutions make disaster recovery easy, thus protecting your data. Cloud based solutions have already found a bigger audience and it won’t be long before hosted VoIP solutions become mainstream in the post-COVID world.
Blockchain that acts as a decentralized ledger, can help VoIP service providers improve their registries for local number portability (LNP), mobile number portability (MNP) and do not call (DNC) in the future. It can be used for creating a standardized repository of data that can be accessed by operators around the world. Blockchain can even successfully curb cyber-security attacks, by connecting millions of devices to a decentralized system. As businesses opt for virtual phone systems and VoIP based services for communication and data sharing, there will be a need for enhancing the security features to make sure the confidential information remains safe. Blockchain-enabled VoIP systems can eliminate all possibilities of fraud or data interception with its military-grade encryption.
The fifth-generation communication network or 5G offers lightning fast speeds and quick response rates along with reduced latency. Capable of playing 4K videos without buffering, its higher bandwidth can transfer a large amount of data in a relatively short time. The widespread availability of 5G in the near future will encourage more and more businesses to opt for VoIP and further expand their usage of VoIP services. The latest cellular network will have a huge role to play in improving global communication.
Mobile Unified Communications will get a push with the availability of 5G network in various countries. More and more VoIP service providers will offer mobile apps for their services, making it more convenient for employees to stay connected on the move. App-based virtual phone numbers will soon be a norm rather than an exception, allowing people to continue conducting video conferences and virtual team meetings more expediently even after the pandemic ends.
The global VoIP market is estimated to reach $55 billion by 2025, as per a report by Global Market Insights. The cost-effectiveness of VoIP will be one of the major reasons for its rising adoption across the world. An increase in the internet penetration as well as in the usage of unified communications platform will contribute to the growth in the adoption of VoIP globally. Additionally, there may be an increase in the adoption of residential VoIP as it can highly reduce the calling costs for local as well as international calls. Other sectors like education, which have adopted VoIP services to conduct online classes during COVID, will continue to use the services for added convenience of the schools, teachers and students.
VoIP services have a garnered a huge fan following during lockdowns and social distancing so as to continue business as usual from home. And we expect the trend to continue well after the pandemic ends. Not only is VoIP a cost-efficient option for traditional phone systems, but it can also play an important role in streamlining business calls and internal communication between co-workers. The upcoming trends can be leveraged by A-Z VoIP Wholesale companies and service providers to deliver an enhanced experience to businesses for getting a competitive advantage.