The voice over wireless LAN market is getting impacted strongly by demands for effective communication. Voice over wireless LAN is an effective method to communicate by sharing existing WiFi network at low, or no-cost. This increases the profit margin for any company substantially owing to which industries are now showing great interest in the sector. The market is buzzing with the prospect of voice over wireless LAN integration due to which an 11.65% CAGR during the forecast period (2020-2027) for the voice over wireless LAN market is quite possible. With this kind of growth rate, doubling the market valuation and reaching USD 34.68 billion mark by 2027 seems easily attainable. As per the reports of Market Research Future (MRFR), its ability to provide low-cost WiFi solution efficiently, improved indoor coverage through WiFi, and deft handling of increasing data traffic can take the voice over wireless LAN market forward in coming years.
However, the voice over wireless LAN market may have to ride across a few bumps regarding cost. Its installation procedure and infrastructural setup can incur high cost which can emerge as a set back for the voice over wireless LAN market during the forecast period. But 5G technology integration holds a lot of promise for the market making long-time depression a distant dream.
The global voice over wireless LAN market can be segmented by solution, application, and end-user.
Based on solution, the voice over wireless LAN market can be segmented into hardware and services. Hardware is the frontrunner, and can be segmented further into wireless LAN access points, wireless LAN controller, wireless hotspot gateways, voice handsets/IP wireless phones, and others. Services can be further segmented into network planning & design, deployment, upgradation, & implementation, and training, support, & maintenance. Services is the fastest growing segment.
Application-wise, the voice over wireless LAN market can be segmented by unified communication & collaboration, security & emergency alarms, and others. Other includes price marking, shipment tracking, and inventory management. Security & emergency alarms is expected to be the fastest growing segment.
Based on end-user, the voice over wireless LAN market can be segmented into residential & small office/home office SOHO, healthcare, public sector & government offices, retail facilities & warehouses, education, manufacturing & distribution, logistics & transportation, hospitality, and others. The last segment includes banking, financial services and insurance (BFSI), IT & Telecom. Residential & SOHO segment is leading the market with considerable share. Healthcare segment can be the fastest growing one during the forecast period.