Global SIP Trunking Services Market is projected to grow at a CAGR of 18.5% in the forecast period of 2018 to 2025
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. The renowned players in SIP trunking services market are Flowroute Inc., 3CX Ltd., Nextiva, Inc., XO Communications, LLC, Twilio, Inc., 8×8, 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.
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Competitive Analysis:
The global SIP trunking services breaker 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 Insights in the report:
- Historical and current market size and projection up to 2025
- Market trends impacting the growth of the global taste modulators market
- Analyze and forecast the taste modulators market on the basis of, application and type.
- Trends of key regional and country-level markets for processes, derivative, and application
- Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis
Customization Options
- All segmentation provided above in this report is represented at country level and can be customized according to needs.
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization).
Market Definition:
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:
- 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.
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