The 21st century has seen a large growth in the Voice Over Internet Protocol (VOIP) market. The core reasons for this exponential growth are technological advancements, government support, and business enhancement. The recent pandemic that surged the world and encouraged businesses to operate remotely will give a boost to the VOIP industry.
Moreover, the cloud telephony services market is growing usages, market share, and revenue. The core reason for this growth is because; these technologies are adopting 5G services and integrating artificial intelligence (AI); in the processes.
In this blog, we will cover the most popular trends to look for in cloud telephony solutions in 2021:
5G will take over the market:
The business paradigm is evolving at a faster pace and they will need a communication channel; to adapt to the shift. As a result, 5G networks are the most popular trend to look for in cloud telephony services in 2021.
5th generation technology (5G) is capable of transforming internet connectivity exponentially. This technology can make communication faster by reducing the response rate by substantially minimizing the call jitters and packet loss during data transfer.
According to research by Verizon in 2019, the advantages of the 5G network improves data transfer speeds by 72%, enhances the connectivity of wearable tech by 50%, and minimizes the number of dropped calls by 47%. This is why many businesses are adopting VOIP, and the organizations that have implemented this technology are exploring more possibilities to expand the usage.
Artificial Intelligence in After-Sales:
Artificial intelligence (AI) is the new normal and plays a crucial role in most of the tasks, which we do today. OTT and social media platforms use AI to showcase the most relevant content for you. Additionally, it is also present on most of the websites in the form of chatbots to ask you whether you need any help through chats. The business contact centers use AI in the IVR solutions that act as self-help kiosks to resolve customer queries quickly.
This technology reduces the burden on the customer assisting teams; so that the team can focus on more challenging issues. AI-assisted chatbots help to analyze and predict customer preferences and behavior to give in-depth insights for your business. The benefits of AI are immense that is why the prevalence of AI in Interactive voice response systems will increase in the future.
Intelligent VoIP Assistants:
Artificial intelligence (AI) in your IVRS software is capable of making your virtual assistant smarter and more intelligent. According to research by E-Marketer, states that approximately 40% of internet users make use of voice assistants monthly. To sum it up, approximately 111 million people either use Alexa, Siri, or Ok google to surf the internet.
The virtual assistant market is making large progress in natural language processes to make the IVR software more intelligent; to answer complex questions of the customers. Furthermore, your customer service teams do not have to handle easy queries because the voice assistant can answer them for your team.
The best IVR service provider in India integrates AI in their processes which gathers customer information. It also automatically tracks the previous grievances of the customer and the updates on it so the current customer service agent can pick up the conversation from where it lefts.
The Increase in Mobile Communications:
Portable mobile devices have changed the way we perceive and perform our daily tasks because these devices are not only used for texting and calling. These portable mobile devices have become so robust that you do not even need a laptop to operate heavy software and also allow customers; to handle their social media or shop from anywhere.
Moreover, businesses emphasize mobility solutions to improve the efficiency and productivity of their teams. Cloud telephony solutions allow your team to connect and interact with each other with ease. The VoIP systems are using mobility solutions and 5G networks that is why this technology is gaining popularity.
Internet of Things Supported VoIP:
Voice over Internet Protocol (VoIP) technology advance to do more than sending voice notes and video packets. This technology will ensure that all your devices like cameras and speakers are well connected with other devices. When you integrate VoIP with IoT, it will revolutionize the business processes. Cloud telephony solutions with IoT will convert your organization into smart offices.
These smart office spaces will have a network that gathers the data from the official systems, and you could also have voice assistants and ask the cloud telephony services to record the meetings for you.
Mobile Number Portability:
It is a difficult challenge to create a loyal customer base for any business, and the customer service department plays a crucial role in this. There is a possibility that you change your service providers or numbers; but, even when you change, then it should be easy for your customer; to connect with your team. Moreover, blockchain technology is revolutionizing every aspect of the business, and it is a global database; that saves data on the internet permanently. Cloud telephony services can use blockchain to migrate service numbers to other network providers quickly. The most prominent progress is in the mobile number portability is also available for VoIP systems for better services.
Higher Adoption of VoIP in the Education Sector:
Many education leaders understood the benefits of VoIP systems in the business and have implemented the same in their schools. Cloud telephony solutions get all the communication with your students, parents, and team on a single platform. The education industry can use this technology to enrich the online learning experience because it provides a better collaboration platform. Additionally, with the current scenario around the world where everything is online; classes also can conduct with this technology. According to research, the education VoIP market will grow by 18% because of the use of IP phones and softphones. The use of cloud phone systems will grow in the future because the demand for mobility is increasing.
Cloud telephony service providers in India are a cost-effective option for small and medium-sized enterprises than the traditional phone systems. Trends like; the adoption of 5G, AI, and other popular trends in the cloud telephony software the businesses should look for in 2021.