Global SIP Trunking Services Market, By Type (On-premise, Hosted), Applications (Telecom, IT, Health Care, Retail, Media, Entertainment, Government, Education, Others), Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa)- Industry Trends and Forecast to 2025
Market Analysis: Global SIP Trunking Services Market
The Global SIP Trunking Services Market is expected to reach USD 28.8 billion by 2025 from USD 7.4 billion in 2017 and is projected to grow at a CAGR of 18.5% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global SIP Trunking Services Market
Session Initiation Protocol (SIP) trunk helps in the reduction of commonly used analog, T1-based Public Switched Telephone Network (PSTN) and allows the company to get a public or private internet connection by the SIP provider. All these types of session initiation protocol providers are also known as internet telephony service providers. Session initiation protocols are widely used for internet telephony, instant messaging, over Internet Protocol (IP) networks and others. According to statista, in 2017, the telecommunication market was valued at around USD 1.4 trillion and estimated to grow to around USD 1.46 trillion by 2020. As per the ACS Chemical Neuroscience, in 2016, in U.S., the global pharmaceutical industry was stated to be USD 446 billion alone. For instance, in 2016, 3CX (Unified communication solution provider) had come into partnership with Partner-Netwerk, a VoIP provider. This partnership would have helped both the companies to offer various services like internet connectivity, IPTV and SIP trunking to their customers. Thus, the above factors prove that the telecommunication and healthcare sectors are growing and will derive the demand of SIP trunking services.
Market Drivers and Restraints:
- Migration reduces the use of fixed PSTN lines
- Cost-effective for multiple lines and hardware requirements for multiple PRI ports
- Increasing reliability of services by adding VoIP services
- Rising security crackdown is a challenge
Market Segmentation: Global SIP Trunking Services Market
- The market is based on type, application, and geographical segments.
- Based on type, the market is segmented into on-premise and hosted.
- Based on application, the market is segmented into telecom and IT, health care, retail, media and entertainment, government, education, others.
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global SIP Trunking Services Market
The global SIP trunking services market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares for global, Europe, North America, Asia Pacific and South America.
In 2015, GTT acquires one source network a global data, Internet, Session Initiation Protocol (SIP) trunking and managed services. This acquisition will help the company to solidify its presence in SIP trunking market.
Key Players: Global SIP Trunking Services Market
The renowned players in SIP trunking services market are Flowroute Inc., 3CX Ltd., Nextiva, Inc., XO Communications, LLC, Twilio, Inc., 8x8, Inc., KPN International N.V., 3CX, Allstream Inc., ShoreTel Inc., Level 3 Communications, LLC, NTT Communications Corp., Digium, Inc., One Source Network, Sangoma Technologies Corp., and many more.
Research Methodology: Global SIP Trunking Services Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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