About Sip Trunking Services
Session Initiation Protocol is the way to achieve a voice-over IP (VoIP) call. It’s an application layer protocol for setting up real-time sessions of audio and/or video between two endpoints. SIP is the technology that creates, modifies, and terminates sessions with one or more parties in an IP network, whether a two-way call or a multi-party conference call. It has emerged as effective cost-saving service and its adoption continues to grow across various sectors. and North America will dominate the SIP trunking services market because of the high adoption rates of advanced technologies and the major presence of key players along with increasing investments in the SIP trunking services market, especially in the United States and Canada.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 12.43% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Sip Trunking Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mitel (Canada), Rogers Communications (Canada), Sangoma Technologies Corp. (Canada), AT&T Inc. (United States), Verizon Communications (United States), CenturyLink (United States), Twilio Inc. (United States), Bandwidth (United States), GTT Communications (United States) and Voyant Communications (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NTT Communications Corp. (Japan), BT Group (United Kingdom), Vodafone (United Kingdom), Tata Communications (India), Nextiva, Inc. (United States), ShoreTel Inc. (United States) and 8x8, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Sip Trunking Services market by and Region.
On the basis of geography, the market of Sip Trunking Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Type, the sub-segment i.e. On-premise will boost the Sip Trunking Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size, the sub-segment i.e. Large Organisation will boost the Sip Trunking Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. BFSI will boost the Sip Trunking Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increasing Adoption of SIP Trunking Services in Industry Verticals such as Healthcare and IT & Telecom, Growing Adoption of Unified Communication Solutions in Enterprise Environments and Cost-Effective Solution In Comparison With the Equivalent Analog Trunks
Challenges:
Difficulties in Implementing SIP Trunks and Growing Concerns over Quality of Service (QoS)
Restraints:
Interoperability is one of the Major Issues Faced by SIP Trunking Services in the Market and Rising Security Concerns among End Users
Opportunities:
Increasing Adoption of Cloud-Based Technologies
Market Leaders and their expansionary development strategies
In October 2019, SkySwitch partnered with 3CX Ltd, to provide advanced level SIP trunking solutions to create and manage virtual connections. The initiative would help the company to improve its customer base and enhance its market presence worldwide.
In April 2019, Verizon Communications partnered with Microsoft Corporation to provide cloud-based integrated connectivity solutions, including SIP trunking services. This cloud-based service is likely to reduce the requirement for organizations to invest in new hardware systems to combine their collaboration and communication efforts.
Key Target Audience
SIP Trunking Services Providers, Cloud Service Providers, Telecom Operators, System Integrators, Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Communication Service Providers (CSPs), End-Use Industries and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.