According to Cognitive Market Research, the global IP Telephonic market size is USD 38124.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.70% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 15249.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.9% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 11437.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 8768.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
Latin America had a market share for more than 5% of the global revenue with a market size of USD 1906.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 762.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031.
Services held the highest IP Telephonic market revenue share in 2024.
