As technology progresses, businesses large and small are gaining the opportunity to interact with consumers and other companies all across the world. With the acceleration of the Internet and mobile platforms, it is becoming easier and easier for international commerce to thrive.
That also means that companies must develop a global strategy if they expect to compete. Small businesses that are unable to reach a wide, international audience may be left out as their competitors advance. Having said that, there is no need to panic – the platforms necessary to do that kind of business are more available and widespread than ever.
VoIP set to expand
Voice over Internet Protocol has made headlines in recent years for its ability to provide clear, reliable calling for a low, flat rate anywhere in the world. Now, more than ever, small businesses can leverage VoIP to give them a broader scope.
A study from Transparency Market Research found that the market for VoIP is expanding at a remarkable rate, reported TMCnet. As of now, the VoIP market is at about $71 billion – but by 2020, the study forecasts that number will rise to $136.76 billion with a compound annual growth rate of 9.7 percent.
"The global VoIP service market is basically driven by rising demand for mobile communication services, technological development in the area of network infrastructures, and high performance ratio," the report stated. "Other factors like diversification of telecommunication service providers to VoIP services, and the trend of bring your own device in corporate consumer segment, also drive this market."
Companies can broaden their horizons through VoIP
Not only is the VoIP market growing in dollar amounts, it's expanding across the world – providing more business opportunities in any region. In South Africa, for example, VoIP is taking off, reported ITWeb. Louis Jardim, director of South Africa's Turrito Networks, expressed his enthusiasm over the development.
"As engineers became more skilled and developed a greater understanding of how VoIP configurations and routing should be done to achieve a proper solution, so it became a more mainstream technology for corporate clients," Jardim told ITWeb.
With a growing VoIP program in countries like South Africa and around the world, global business will thrive.
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