A combined $120 billion will be spent on VoIP services between 2005 and 2009 in the 3 regions.
"Businesses around the world are migrating to IP for increased functionality, greater flexibility, improved productivity, and the potential of growing revenue through better customer service," said Stéphane Téral, principal analyst at Infonetics Research.
"VoIP services continue to pick up fast in North America and in many parts of Europe, particularly in central and Eastern Europe, where small businesses have a strong appetite for business trunking, IP Centrex, and VoIP VPN services," Téral continued. "In Asia Pacific, VoIP service revenue about doubled that of North America and Europe in 2004, and continues at a blazing pace. China will likely emerge as a major VoIP business market in the coming years because the Chinese government is encouraging carriers to accelerate the migration to IP Centrex and IP PBX from their existing TDM Centrex."