15 Feb 2010

VoIP 'set to gain in popularity'

Voice over Internet Protocol (VoIP) communications could see a major boom in the years to come, it has been claimed.

George Van Horn, senior analyst at IBISWorld, said continuing development of the technology and the obvious cost-saving benefits of VoIP could mean more firms switch to its use in the months ahead.

He commented: "The industry has come off a very low base and has grown considerably as more people and businesses take up the service."

Mr Van Horn added, however, it is unlikely VoIP will ever fully supersede landline or mobile communication.

According to figures published by IBISWorld in December, VoIP is a new industry that only began to earn revenue in 2002, but, in the short period to 2009, revenue growth accumulated by 179,036 per cent.

Furthermore, the firm predicted that the technology and innovation industries that have thrived in the past decade are generally expected to continue their run through 2019.