Sip Trunking Services Market is projected to reach USD 67.43 billion by 2032 & Forecast 2022 to 2032 -Flowroute, 3CX, Nextiva, XO Communications, Twilio, 8x8, KPN International, Allstream, ShoreTel, Level 3 Communications, NTT Communications, Digium, Sang

The global Session Initiation Protocol Trunking Services market size was USD 13.43 billion in 2021 and is projected to reach USD 67.43 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period. The base year considered for the study is 2021, and the forecast period is 2021-2032

The report aims at estimating the market size and potential of the SIP Trunking services market across segments, such as organization size, end users (wholesale and verticals), and regions. The primary objectives of the report is to provide a detailed analysis of the major factors (drivers, restraints, opportunities, industry-specific challenges, and recent developments) influencing the market growth, analyze the market opportunities for stakeholders, and offer details of the competitive landscape to the market leaders.

Some of the Top companies Influencing this Market include:

Flowroute, 3CX, Nextiva, XO Communications, Twilio, 8x8, KPN International, Allstream, ShoreTel, Level 3 Communications, NTT Communications, Digium, Sangoma Technologies

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The research report categorizes the SIP Trunking services market to forecast revenues and analyze trends in each of the following subsegments:

By Organization Size
Small Businesses
Mid-sized Businesses
Enterprises

SIP Trunking Services Market By End-user
Verticals
Banking, Financial Services, and Insurance (BFSI)
High-Tech
Government
Healthcare
Education
Retail
Transportation and Logistics
Manufacturing
Travel and Hospitality
Others (Media and Entertainment and Legal)
Wholesale

Sip Trunking Services Market Types:

On-premise, Cloud.

Sip Trunking Services Market Applications:

BFSI, Telecom and IT, Health Care, Retail, Media and Entertainment, Government, Education, Others

The session initiation protocol (SIP) is an application layer protocol that allows the user to use their phone system over an internet connection instead of traditional phone lines. The backbone of phone lines used by various users that connects to a telephone network is referred to as trunking. SIP trunks connect an on-premise phone system to the public switched telephone network, often known as PSTN, via Voice over Internet Protocol (VoIP). For instance, an office may already have a PBX for phone service. SIP trunks give phone service to the entire office, allowing them to communicate with the rest of the world.

SIP trunking is mostly used to replace PRI technology. SIP trunking makes use of VoIP technologies to deliver voice and data. Other data, such as instant messages and video conferencing, is also supported by SIP. Thus, SIP trunking is used for call setup, management, and teardown. It is very flexible, reliable, and quite lightweight solution.

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Competitive Landscape and Session Initiation Protocol (SIP) Trunking Services Market Share Analysis
Session initiation protocol (SIP) trunking services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to session initiation protocol (SIP) trunking services market.

Some of the major players operating in the global session initiation protocol (SIP) trunking services market are 3CX, 8X8, Inc., BT, CenturyLink, Colt Technology Services Group Limited, Fusion Incorporated, GTT Communications, Inc., Intelepeer Cloud Communications LLC., Mitel Networks Corp., NET2PHONE, Nextiva, ORANGE, Rogers Communications, TELSTRA, TWILIO Inc., Verizon, Vonage, Voyant Communications, Intrado Corporation, and IBM Corporation among others.

Many new product developments, business expansions, contracts and agreements are also initiated by the companies' worldwide which are also accelerating the session initiation protocol (SIP) trunking services market.

For instance,

In January 2022, TWILIO INC. have signed an agreement with Teleperformance for bringing the next generation of cloud contact centre solutions to companies around the world. This partnership will help to enhance company's service portfolio and also will give customer the access to deliver market leading cloud solutions
In November 2021, Fusion Connect, Inc. had expanded service guarantee covering voice and data services, including Unified Communications (UCaaS) and SD-WAN. This had further helped the company to enhance their service portfolio in the premium market

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Unparalleled Flexibility and Scaling Being Preferred in SIP Trunking Services
There is a growing demand for SIP trunking services that automatically scales up or down in order to meet traffic needs with unlimited capacity. Twilio - the cloud communications platform as a service company based in San Francisco, California, U.S. is gaining recognition for its easy to use self-service SIP trunking tools that eliminate dependence on slow providers. The growing interest of startups to fuel revenue is driving the global SIP trunking services market.

Unparalleled agility and scaling are being preferred in SIP trunking services. Companies in the SIP trunking services market are offering platforms that help users to take control of all communications by providing on-demand self-service trunk provisioning.

SIP Trunking Services Market: Key Developments
Key players in the SIP trunking services market, such as CenturyLink, Inc., Verizon Communications, Inc., AT&T Inc., net2phone, Vodafone Group Plc, 8x8, Inc., and RingCentral, Inc. are focusing on adopting alternative distribution channels such as online sales to further strengthen their market presence globally. Additionally, players active in the market are focusing on inorganic growth strategies such as strategic collaborations and merger & acquisition activities with technology partners to improve their offerings and market reach. Some other key developments in the global SIP trunking services market are highlighted below:
In August 2021, 8x8, a key player in the SIP trunking services market signed a new distribution agreement with SYNNEX Corporation. Under this, 8x8 will deliver access to 8x8 XCaaS to SYNNEX's partner community of traditional value-added resellers (VARs), system integrators, and managed service providers (MSPs).
In March 2021, RingCentral Inc., one of the key players of the SIP trunking services market acquired Security Technology to deliver more secure video meetings and business communications. The new technology will be integrated into RingCentral's global communications platform and offer customers enhanced security features, with end-to-end encryption.
In November 2020, net2phone, a key player of the SIP trunking services market launched its fully localized cloud communications solution nationwide in Peru and expanding to six new cities in Brazil
In June 2020, Sinch AB, a key player of the SIP trunking services market acquired ACL Mobile Limited for a total cash consideration of US$ 71.6 Mn for the expansion of business in India
In the global SIP trunking services market report, we have discussed individual strategies, followed by company profiles of providers of SIP trunking services. The 'Competition Landscape' section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global SIP trunking services market.

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