Looking Ahead: VoIP Trends for Businesses in 2024
With the growth in the VoIP market, it is showing no signs of slowing. The truth is, it's speeding up, and staying on top of the growing trends can help keep your business as a front-runner.
More companies are beginning to realize that enhancing their business phone systems is crucial and are relying on VoIP system features for good reasons.
Let's look at projected VoIP trends for 2024.
What Is VoIP?
VoIP Stands for Voice-over-Internet-Protocol, and its primary function is to route calls over business internet instead of landlines. It's used with hosted and on-premise phone systems and allows the information to be transmitted at a lower cost than traditional lines.
Tuning Into 5G
Businesses need to keep up with their competition, and this will require a communication process that is streamlined and fast, which is why 5G is being adopted in the VoIP market. This technology is set to transform connectivity because it enables faster communication and responses while eliminating packet loss and call jitter during data transfer.
Because of these benefits, one of the biggest trends is incorporating 5G to support the VIP systems.
Advanced AI Is Becoming the Standard
Artificial intelligence is a standard part of our everyday lives. Whether it involves picking shows for you on Netflix or filling your social media news page, it ensures you get relevant updates.
VoIP is adopting this, and it's projected that 95% of customer interactions will be done with AI technology by 2025.
This results in a trend that involves finding ways for companies to incorporate AI technology into their current VoIP system to maximize its benefits.
Companies Are Turning to UCaaS
Cloud phone systems are now a more cost-effective option for businesses than in-house networks.
VoIP makes it possible to have phone calls over the Internet, a feature that a UCaaS platform needs to function, and with the reported growth predicted at over $24.8 billion by 2024, this trend cannot be ignored.
Analog Telephones Are Becoming a Thing of the Past
Technology is enhancing the demise of landline systems, which is inevitable. With less than half the number of households in the United States having landlines, VoIP systems will become more sophisticated to meet the customers' demands.
VoIP can offer support in areas such as video calls, social media, SMS, chat, and e-mail, meaning the right investment for businesses is in the flexibility of VoIP platforms.
Enhanced Security for VoIP
VoIP systems can also become targeted and vulnerable to hackers between online learning, class collaboration, and on-demand access. So, one of the future trends is finding new ways for companies to prepare themselves as they roll out these systems for their communication.
To counter this, cyber security vendors and understanding data security practices can help minimize the risk and reap the system's benefits.
How Can VoIP Benefit Your Company?
Aside from e-mail, your phone system is critical to helping your business run effectively, and while switching might not be at the top of your list, VoIP systems deliver undeniable benefits.
Aside from the fact that you're getting amazing mobility, they can accommodate business moves and hybrid work, or if an employee transfers to a new location, it removes the headache that comes with non-cloud-based phone systems because it can easily adapt to changes.
It's also more versatile and is designed to help boost operations and productivity by offering features like:
● Automated attendance
● Call screening and flip
● Virtual numbers
● Call hold, transfer, and recording
VoIP also doesn't limit how many phone lines you have, so if you're a company that regularly makes long-distance calls, these costs can add up quickly. VoIP allows for unlimited lines, and if the Internet is down, the calls can be transferred to other devices.
How Do You Prepare for the Switch to VoIP?
Once you've decided to invest in a VoIP system, making the switch isn't complicated. A few things we recommend you consider are:
● Knowing what the current phone plan is.
● Are your employees remote, hybrid, or in-office?
● What's the average amount of time employees spend on calls?
● What kind of features do you need for your company?
VoIP systems are cheaper than landlines, but depending on the features you choose, it can affect the price, and before switching, the software may need to be installed on devices and your phone number transferred.
You also want to check with your network to ensure you have reliable services because the system depends on how fast your Internet speeds are, and we recommend your bandwidth is around 100kbps.
Streamlined Solutions for All Your Technology Needs
VoIP is just one solution to help enhance your business and simplify your telecommunications needs in Minnesota. Business enhancement comes in many forms, and whether you're looking for on-hold music services or digital signage, the experts at Lighthouse Technology Solutions have you covered.
Our priority is to put our customers first and ensure the most straightforward, highest level of care in every solution we provide. Whether you need consulting or development options, we are here to start you out with a free quote; message us online or call us at 612-345-9177 today.