Telephony refers to the transmission of voice, fax and other information by using electronic means. Telephony equipment includes landline telephones, fax machines, computers, handheld devices such as mobile phones, laptops, tablets and others. In enterprise telephony, communication is accomplished over the intercom systems, internet protocol (IP) and others. Currently, with increasing sizes and areas of businesses across the world, communication amongst the colleagues becomes a crucial issue for the organizations.
Enterprise telephony communication is used to provide a smooth flow of communication and a socialized environment among the colleagues in an organization. Telephony is used by various enterprises such as banks, financial institutions, manufacturing sector, education organizations and others to enhance the communication among the people for smooth workflow. Enterprise telephony facilitates real-time communication which enables the employees to make quick decisions.
Government and healthcare sectors are the major consumers of the enterprise telephony solutions. In government sector, enterprise telephony is used to provide a common platform for communication between various departments in the government offices. In healthcare sector, efficient enterprise telephony plays an important role as it helps to make quick decisions. Furthermore, enterprise telephony is also used in educational institutes, transportation, banks, and other organizations as it helps to reduce costs of communication within the organization.
Banks and financial institutions implement enterprise telephony to facilitate communication of their employees among various departments and branch offices. In education sector, enterprise telephony is used to establish communication in the organizations such as colleges, universities and other institutions. Moreover, it enhances the productivity of the organization due to reduced efforts for communication.
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Rising urge for adoption of unified communication solutions is one of the most important factors driving the growth of enterprise telephony market. Additionally, increasing investment of the organizations such as hotels in enterprise telephony is another factor driving the market. Sectors such as BFSI, transportation, information technology (IT), retail and other business services are expected to pose significant demand for enterprise telephony in near future.
Additionally, small and medium size businesses (SMB) are increasingly shifting towards enterprise telephony for enhancement of communication in their organizations. Moreover, introduction of advanced technology for communication such as voice over internet protocol (VoIP) is expected to significantly contribute to the growth of enterprise telephony market. However, intense competition and improper standards for the solutions are major factor hampering the market growth. Security of data and network infrastructure is another challenge faced by the vendors in the enterprise telephony market.