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Global SIP Trunking Services Market is projected to grow at a CAGR of 18.5% in the forecast period of 2018 to 2025

Global SIP Trunking Services Market

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. 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:

Customization Options

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:

Market Segmentation: 

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