The global demand for SIP Trunking Services Market is presumed to reach the market size of nearly USD 35.14 MN by 2028 from USD 13.37 MN in 2021 with a CAGR of 14.8% under the study period 2022 - 2028.
SIP trunking Services provides voice and other unified communications over the internet. SIP is used in conjunction with an IP-enabled private branch exchange (PBX). Traditional telephone lines or primary rate interfaces are replaced by SIP trunking (PRIs). SIP trunks are virtual phone lines allowing users to make and receive phone calls to anyone in the world who has a phone number over the internet. SIP trunks function with a packet switch network, which breaks down voice communications into digital packets and sends them across a network to their eventual destination.
Market Dynamics
The demand for SIP trunking services is being driven by the growing adoption of unified communication (UC) solutions in enterprise contexts and the significant decrease in telephone costs and speedy Return on Investment (ROI) facilitated by trunking services. SIP trunking services reduced the need for businesses to invest in an extra public switched telephone network (PSTN) gateways, resulting in increased demand for SIP trunking services. Furthermore, the need for SIP trunking services is further boosted by VoIP services and the availability of numerous digital streaming capabilities. The growing adoption of SIP trunking services in industry verticals like hospitals, hospitality, and restaurants is likely to contribute to the market growth. Nevertheless, rising security concerns among end-users might impede the growth of the SIP trunking services market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of sip trunking services. The growth and trends of sip trunking services industry provide a holistic approach to this study.
Market Segmentation
This section of the sip trunking services market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
By End User
- Bfsi
- It & Telecom
- Government
- Healthcare
- Education
- Retail & E-Commerce
- Travel And Hospitality
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the SIP Trunking Services market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global SIP Trunking Services Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the sip trunking services market include Orange S.A., Vonage Holdings Corp., Bandwidth, Lumen Technologies, Sinch AB, Telkom SA, RingCentral, Inc., MessageBird, Plivo Inc., Twilio, Inc., 8x8, Inc., AVOXI Inc., Colt Technology Services. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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