Report: VoIP market grew to $20.7 billion

We've heard this before: the bad economy was a boon for VoIP. Well now there is some pretty decent evidence coming out of Infonetics Research with their latest report VoIP and UC Services and Subscribers Report. According to the report, for the first half of 2009 the VoIP services market worldwide grew to $20.7 billion.

The majority of worldwide VoIP revenue, which consisted of residential VoIP and subscribers, was up 14 percent from the end of 2008. On the business side, IP PBX revenue growth slowed, but the research firm forecasts that IP Centrex and hosted UC revenue will grow 26 percent year-over-year in 2009.

"Demand for residential and business VoIP services continues to grow even as spending in other communication areas tightens." explains Diane Myers, directing analyst for service provider VoIP and IMS at Infonetics Research.

For more:
- read this release from Infonetics
- read this article from Seeking Alpha

Related articles
Infonetics Chart: 2013 VoIP Growth
Report: SIP Trunking catching on
Report: Mobile VoIP to impact operator voice revenue