VoIP: Industry of the Decade

Say what you want about where the cool new gadgets are popping up, but according to some analysts, the 'naughts' were all about VoIP growth. According to IBISWorld, VoIP was ranked 'industry of the decade' for the decade just come to a close.

According to the IBISWorld report "in the short period [from 2002 when VoIP emerged] to 2009, revenue growth accumulated to an astronomical 179035.8%." Compared to the runners up--search engines and e-commerce--VoIP crushed the competition. Sure the wireless world has their iPhones and Androids, but they only came in 8th with just 183 percent growth.

"VoIP has skyrocketed from non-existent to a massive application targeting telecom carrier's voice revenues," says George Van Horn, senior analyst with IBISWorld in the release.

When they peered into their crystal balls, IBIS also saw VoIP as the industry of the next decade beating out retirement plans and biotech. The cost savings of VoIP technology coupled with all the opportunity to upgrade all the legacy phone systems lying around means we've got a lot more work to do in the new decade. Sounds good to us!

For more:
- read the release

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