Economic Meltdown Could Benefit VoIP

Posted By AVAD Business Editor on 2009-01-22

Ironically, the VoIP industry may actually benefit from the economic slow down. The increase in companies adopting VoIP technologies is expected to be greater than the loss of customers affected by general economic conditions. Approximately 4% to 12% of small businesses have already migrated to VoIP, this leaves at least 88% of small businesses that at some point will migrate to VoIP.

Another factor that should lead to greater VoIP adoption is that eventually, all of the currently installed telecommunications equipment will eventually need to be replaced.

The Economic Meltdown Will Have a Positive Impact on VoIP Growth

As a result of the economic slowdown and stock market crash, all executives are under increasing pressure to reduce costs. While there are a lot of areas where expenses can be cut, the phone bill is a monthly reminder to executives to look at VoIP. In addition, moving to VoIP allows companies to realize efficiencies enabled by Voice over IP. That is an added benefit. In fact, the benefit from the gain in efficiency should be greater than the savings from moving to a VoIP telephone system.

Finally, in my humble opinion, we are a lot closer to the end of the current recession. As the economy begins to improve and credit begins to flow more easily, the VoIP market will further benefit.