VoIP to flourish despite the economic downturn

The Voice over Internet Protocol (VoIP) industry has the potential to survive and thrive during the economic downturn, new research suggests.

According to a report by IBISWorld, projected revenues for the VoIP industry could grow to 20.1 per cent during 2009.

The study placed VoIP at the top of a list of emerging industries predicted to have the biggest growth this year.

This was ahead of eCommerce and online auctions in second place with 12.6 per cent, while the biotech sector came in third with 10.3 per cent.

George Van Horn, a senior analyst with IBISWorld, said in a statement: "Emerging industries remain well represented and continue to benefit from technological innovation and cost advantages."

"Unfortunately, the impact of the recession is equally pronounced among sectors directly benefitting from the social and financial stress associated with the downturn," he added.

Stephanie Viscusi, TMCnet.com assignment desk editor, recently said more businesses are deploying VoIP during the recession as a way to save money.