A new report issued by Research and Markets points to rising adoption rates by consumers in VoIP. The global consumer market in VoIP grew from 16 million in 2005 to over 50 million in 2006. Numerous forecasts point to total VoIP adoption to exceed 38% of worldwide broadband households by 2011. Revenue within the market is expected to grow from $16 to $44 billion in that period. Europe, with a heavier concentration of broadband users, is leading the way with above average consumer adoption rates. The United States is quickly rolling out new broadband infrastructure and adoption rates to VoIP are expected to follow Europe’s lead.
NewMarket Technology is well positioned to take advantage in the growth of VoIP, and recently the company announced plans to combine its wireless broadband and VoIP services. The company’s plan with the combination effort is to focus on developing countries that may not have the infrastructure needed to have an effective broadband rollout. NewMarket has already seen success with the rollout with $20 and $30 million in sales in South America and Asia respectively. The company is marketing the systems to municipalities to help with water distribution and power-grid distribution. As top-tier nations continue to adopt VoIP at a feverish pace, second-tier nations will become the target markets. NewMarket has already positioned itself as a leader in the developing nation market with annual sales of $20 and $30 million in second-tier areas such as South America and Asia.
About NewMarket Technology
NewMarket helps clients maintain the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations. NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions such as Microsoft, Cisco Systems, SAP, Siebel and Sun Microsystems. Concurrently, NewMarket continuously seeks to acquire emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions.