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Wholesale Voice Carrier Market CAGR to hit 4.6% with USD 31,754.36 million by 2028

09-20-2022 04:00 PM CET | Media & Telecommunications

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

Change in telecommunication system is inevitable as the technology is evolving rapidly. Customers often prefer services that offer more benefits at comparatively low prices. Voice over internet protocol (VoIP) provides enhanced benefits for voice termination than traditional call circuit. VoIP service has improvised the international voice communication by reducing call charges to almost zero, which were otherwise charged exorbitantly over traditional call switch. Also, the strong infrastructure development to support internet growth has helped VoIP enhance its market footprints.

The pricing structure of wholesale voice carriers underwent a positive change over a couple of years, favoring customers. The charges are decided by the firms based on their revenue and dominance in the local market, resulting in VoIP being 40-80% cheaper than the traditional call services based on the internet. A VoIP service can help companies reduce the telecommunication cost by almost 50% with negligible setup cost. Lower overhead requirements, elimination of call waiting & voicemail expenses, and slashed relocation costs are some of the major features of VoIP service.

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According to The Insight Partners' research, the global wholesale voice carrier market accounted for US$ 21,788.17 million in 2020 and is estimated to reach US$ 31,754.36 million by 2028 to rise at a stellar annual growth rate of 4.6% from 2021 to 2028. The rising penetration of VoIP call services, increasing focus on low-priced solution offerings, and growing adoption of smartphones and VoIP devices are the potential factors attributed to the market expansion.

Strategic Insights:

Key players dominating the global wholesale voice carrier market are AT&T Inc.; BT Group; Deutsche Telekom AG; IDT Corporation; Tata communication; Telefónica S.A; Lumen Technologies; Verizon Communications, INC; Orange S.A; and BICS, among others.

• In August 2019, BT Group partnered with Audacious, a mobile service provider which offers personalized service to users with a range of hearing requirements.

• In June 2020, Deutsche Telekom AG collaborated with Orange International Carriers on POC (proof of concept) to enhance IPX services.

• In July 2020, Tata Communications received a Type B telecom license in Saudi Arabia, which enabled the company to provide internet and telecom services to the regional enterprises.

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On the other hand, increasing cases of fraudulent voice traffic and advent of data communication over voice hinder the growth of global wholesale voice carrier market.

Based on service, the market is split into voice termination, interconnected billing, and fraud management. The voice termination segment held 46.0% market share in 2020. It was assessed at US$ 10,029.89 million in 2020 and is speculated to garner US$ 15,006.84 million by 2028 to expand at 5.0% CAGR during 2021-2028.

In terms of transmission network, the market sphere is categorized into owned network and leased network. The latter led the domain in 2020 with 65.9% market share. It amassed US$ 14,367.85 million in 2020 and is forecasted to generate US$ 21,654.55 million by 2028 to grow at 5.1% CAGR during the forecast period.

As per technology, the global wholesale voice carrier market is segmented into VoIP and traditional switching. With 52.8% share of the business, the VoIP segment dominated the market in 2020. It was valued at US$ 11,503.33 million in 2020 and is slated to accrue US$ 18,751.64 million by 2028 to elevate at 6.1% CAGR throughout the forecast period.

Our regional analysis states that Europe occupied 37.2% market share in 2020, accounting for US$ 8,095.51 million. It is likely to hit US$ 15,100.22 million by 2028 to surge at 4.5$ CAGR over the forecast period. The Asia Pacific market was evaluated at US$ 6,822.12 million in 2020 and is predicted to be worth US$ 10,224.90 million by 2028 to register the highest CAGR at 5.0%.

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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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