Although VoIP systems have been around for nearly 20 years, many consumers are unaware of what it is. A survey by Software Advice concluded that over 50% of those interviewed did not know what the managed telephony service was, and 10% gave an incorrect definition of the term.
Although the concept may be lost among the average consumer, VoIP is a fast growing business solution in the telecommunications world. Cloud-based solutions are popping up in a number of different industries, and for many companies, moving to the cloud means a more efficient work environment. Offering businesses an offsite method to handle their phone systems, many companies are making the switch to cloud hosted VoIP phone systems.
A new study by market research group Infonetics predicts a bright future for cloud hosted VoIP systems, with hosted PBX and unified communications expected to expand by 13% in 2014.
Many small and large companies alike are ditching their premise-based communications systems and embracing hosted options over the cloud. Advantages of hosted VoIP include lower startup and subscription costs, greater media options and phone portability.
As VoIP becomes a more popular business solution, the competition is heating up with more and more companies entering the market. Recently, UniVoIP, a telephony company offering cloud solutions, announced its certification with the Local Small Business Enterprise Preference Programs of Los Angeles County and the state of California. The Local SBE gives small, independently owned businesses access to contracts with government agencies, as well as other incentives. UniVoIP is the only cloud phone provider certified by the program to provide services to Los Angeles County small businesses.
Aside from more VoIP companies emerging and greater competition in the cloud phone system industry, the Infonetics study also pointed out that resellers are also embracing the changing environment as more begin to pitch cloud based phone solutions and encourage their clients to switch.
Infonetics expects the unified communications and hosted PBX industry to grow to 62.2 million seats in service and profits to near $12 billion by the year 2018.