The global business and residential VoIP services market rose 8 percent in 2013 to $68 billion, said Infonetics Research.
SIP trunking increased 50 percent in 2013 from the prior year, driven predominantly by activity in North America.
Infonetics Research says EMEA is expected to be a strong contributor for SIP trunking business in 2014.
“Business VoIP services have moved well beyond early stages to mainstream, strengthened by the growing adoption of SIP trunking and cloud services worldwide. Hosted unified communications are seeing strong interest up market as mid-market and larger enterprises evaluate and move more applications to the cloud, and this is positively impacting the market,” said Diane Myers, principal analyst for VoIP, UC, and IMS at Infonetics Research.
Sales of hosted PBX and unified communication (UC) services increased 13 percent in 2013, and seats grew 35 percent due to continued demand for enterprise cloud-based services, the report said.
Global residential VoIP subscribers increased 8 percent to 212 million in 2013.
Infonetics Research says managed services are benefitting from the continued adoption of IP PBXs: Roughly 10 percent–20 percent of new IP PBX lines sold are part of a managed service or outsourced contract.
Infonetics expects VoIP services revenue to reach $88 billion by 2018.