The Global Session Initiation Protocol (SIP) Trunking Services Market Report by The Business Research Company covers SIP trunking services market drivers and restraints, SIP trunking services market size, major players, and the impact of COVID-19 on the SIP trunking services market.
The SIP trunking service market consists of sales of session initiation protocol (SIP) trunk and related services by entities (organizations, sole traders, and partnerships) that is offered by a communications service provider that uses the ability to give voice over IP (VoIP) connectivity between the on-premises phone system and public switched telephone network (PSTN). The SIP trunking service is used for call establishment, administration and teardown. SIP trunks are sold as a replacement for the digital primary rate interface (PRI), which is based on time-division multiplexing (TDM).
The global session initiation protocol (SIP) trunking services market is expected to grow from $11.29 billion in 2020 to $13.03 billion in 2021 at a compound annual growth rate (CAGR) of 15.4%. The change in growth trend of the SIP trunking service market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The SIP trunking service market is expected to reach $20.67 billion in 2025 at a CAGR of 12.2%.
The reduction in communication costs is contributing to the growth of the SIP trunking service market. Switching over to SIP (session initiation protocol) provides benefits to the businesses such as lower cost, flexible bandwidth allocation, better video and audio quality, and so on.
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Some session initiation protocol trunking services market trends include cloud-based SIP trunking service. SIP trunking service providers offer cloud-based SIP or VoIP (Voice over IP) that can be bought and maintained virtually without any hassle. It has reduced service cost, the provider takes all the responsibility for SIP trunks, bandwidth and the best part of a cloud-based SIP trunk is that the system can be accessed from anywhere at any time
Global session initiation protocol (SIP) trunking services market segments include:
1) By Type: Hosted, On Premise
2) By Organization Size: Small Businesses, Mid-Sized Businesses, Large Enterprises
3) By End User: BFSI, Healthcare And Life Sciences, Telecommunications And IT, Government And Public Sector, Manufacturing, Consumer Goods And Retail, Media And Entertainment, Others
4) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Session Initiation Protocol (SIP) Trunking Services Global Market Report 2021: COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides session initiation protocol (SIP) trunking services market overviews, analyzes and forecasts market size, share, session initiation protocol (SIP) trunking services market players, session initiation protocol (SIP) trunking services market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The session initiation protocol (SIP) trunking services identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Session Initiation Protocol (SIP) Trunking Services Global Market Report 2021: COVID-19 Implications And Growth from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: 8×8 Inc., Verizon Communications, 3CX, AT&T Inc, Bandwidth, BT Group plc, CenturyLink, Colt Inc., Flowroute, Fusion Connect, Inc., GTT Communications Inc., IntelePeer Inc., Level 3 Communications, Mitel Networks Corporation, Net2Phone, Nextiva Inc., NTT Communications Corporation, Rogers Communications, Tata Communications Ltd., Telstra Inc., Twilio Inc., Vodafone Group PLC, Vonage Holdings Corporation, Voyant Communications LLC., West Corporation, Allstream Inc., Plivo Inc, Ringcentral Inc., Sangoma Technologies Corporation, ShoreTel Inc., and Sprint Corporations.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Session Initiation Protocol (SIP) Trunking Services Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Session Initiation Protocol (SIP) Trunking Services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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