What many professionals have speculated received a formal stamp of approval thanks to Ibisworld Research, which released a report showing that VoIP had been the fastest growing technology of the past decade based on cumulative revenue growth from 2000 through 2009.
According to Ibisworld's survey, the VoIP industry exploded at an amazing 179035% over those ten years, with the second largest tech industry growth being in search engines standing at a growth rate of 1656%. If these phenomenal percentage rates fail to put things in perspective, this means VoIP industry as a whole grew 100 times more than any other industry during the decade by 2009.
Some even argue that the VoIP sector had reached even higher growth rates than those published by Ibisworld's research. When you think about, it really makes sense; VoIP has been as ubiquitous as the Internet itself for the past 15 years. Moreover, today a much greater number of people and businesses worldwide rely on voice over IP just as they do on the Web. Plus, the lack of a single monopolizing entity in the VoIP industry means competitive quality of service and costs for both private and wholesale VoIP customers.
Below is the list of the top 10 fastest growing technology sectors during 2000's first decade.
- Voice Over Internet Protocol Providers (VoIP) 179,035%
- Search Engines 1,656%
- eCommerce & Online Auctions 469%
- Online Dating & Matchmaking 249%
- Tank & Armored Vehicle Manufacturing 245%
- Petrochemical Manufacturing 221%
- Mining Support 187%
- Wireless Telecommunications Carriers 183%
- Biotechnology 182%
- Warehouse Clubs and Supercenters 147%
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Image credits: University of Oregon