openPR Logo
Press release

Global SIP Trunking Services Market to Reach USD 43.74 Billion by 2031: TMR Analysis

06-12-2024 04:31 PM CET | IT, New Media & Software

Press release from: Transparency Market Research

SIP Trunking Services Market

SIP Trunking Services Market

The Global SIP Trunking Services Market, valued at USD 11.96 billion in 2021, is poised for substantial growth, projected to reach USD 43.74 billion by 2031, advancing at a robust CAGR of 14.1% from 2022 to 2031. The increasing adoption of Voice over Internet Protocol (VoIP) services and the resultant decrease in telephony costs are primary drivers of this market expansion.

Download Sample PDF from Here- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=13928&utm_source=Openpr&utm_medium=Amit

Key Market Drivers
The adoption of SIP trunking services is accelerating due to several factors:
1. Cost Efficiency: SIP trunking significantly reduces the total cost of ownership by minimizing capital expenditures. By eliminating the need for PSTN gateway capacity across enterprises, businesses can achieve considerable cost savings.
2. Demand for Long-Distance and International Calls: As the need for efficient and affordable long-distance communication grows, VoIP trunking services, which offer lower rates compared to traditional Time-division Multiplexing (TDM), are gaining traction.
3. Shift to Cloud/Virtual PBX Systems: Businesses are increasingly adopting cloud/virtual PBX systems to reduce operational costs, and SIP trunk providers are responding by launching localized cloud communication solutions to expand their regional presence.

Market Insights
SIP trunking services utilize VoIP or PSTN to connect a Private Branch Exchange (PBX) to the Internet, facilitating communication with both fixed and mobile telephone subscribers. This technology enables businesses to transmit data and voice services over VoIP and PSTN lines, offering a modern, affordable, and versatile alternative to traditional landline connections. The rise in mobile technology usage and the adoption of Unified Communications-as-a-Service (UCaaS) platforms are further propelling the market.

Access Full Report from Here - https://www.transparencymarketresearch.com/sip-trunking-services-market.html

Leading Market Players
Key players profiled in the market report include 8x8, Inc., Avoxi, Bandwidth, Inc., Colt Technology Services, DID Logic, DIDWW Ireland Limited, Flowroute (part of Intrado), Inteliquent, Lumen Technologies, MessageBird B.V., Net2Phone, Inc., Orange S.A., Plivo Inc., RingCentral, Inc., Sinch AB, SIPSRUS, Tata Communication, Telkom SA, Telstra Corporation Limited, Twilio Inc., VoIP Innovations, and Vonage Holdings Corp.

Key Developments in Global SIP Trunking Services Market
• In August 2021, 8x8, Inc. signed a new distribution agreement with SYNNEX Corporation to provide 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. acquired the technology and engineering team at Kindite, a developer of cryptographic technologies. The new technology would be incorporated into RingCentral's global communications platform, providing customers with enhanced security capabilities including end-to-end encryption.
• In November 2020, Net2Phone, Inc. launched its fully localized cloud communications solution nationwide in Peru and announced plans to expand to six new cities in Brazil
• In June 2020, Sinch AB acquired ACL Mobile Limited, a provider of cloud communications services in India and Southeast Asia

Regional Outlook
• North America: Dominated the market in 2021 due to extensive SIP trunking service adoption and the increasing prevalence of cloud-based solutions in large enterprises.
• Europe: Second in terms of revenue share, driven by digital transformation initiatives aimed at achieving top-line growth.
• Asia Pacific: Expected to witness significant growth, fueled by the expansion of small and medium enterprises.
• Middle East & Africa: Growth driven by the emphasis on high-quality process outcomes and reduced operational costs.

Market Segmentation
The SIP trunking services market is segmented based on enterprise size (small & medium enterprises, large enterprises), end-user (BFSI, IT & telecom, government, healthcare, education, retail & ecommerce, travel & hospitality, others), and regions (North America, Europe, Asia Pacific, Middle East & Africa, South America).

Click Here to Purchase this Comprehensive Insights Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=13928<ype=S&utm_source=Openpr&utm_medium=Amit

0About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: sales@transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global SIP Trunking Services Market to Reach USD 43.74 Billion by 2031: TMR Analysis here

News-ID: 3536611 • Views:

More Releases from Transparency Market Research

Dried Apricots Market Growth Report 2023-2031 | 250 Pages Report
Dried Apricots Market Growth Report 2023-2031 | 250 Pages Report
The global dried apricots market (말린 살구 시장) was valued at USD XX billion in 2022 and is projected to reach US$ 1.1 Bn by 2031, growing at a CAGR of 5.4% during the forecast period. The growth is attributed to the increasing awareness of the health benefits of dried apricots, such as improved digestion, enhanced skin health, and a boosted immune system. Additionally, the convenience of dried apricots as
Dried Fruit Ingredients Market Insights: 2023, Progressive Trends, Growth Opportunities and Revenue Forecast to 2031
Dried Fruit Ingredients Market Insights: 2023, Progressive Trends, Growth Opport …
The global dried fruit ingredients market (말린 과일 성분 시장) is projected to witness substantial growth from 2023 to 2031. According to industry reports, the market was valued at approximately US$ 7.6 Bn in 2022 and is expected to reach around US$ 11.9 Bn by 2031, growing at a CAGR of 5.2% during the forecast period. This growth is attributed to the increasing consumption of healthy snacks and the incorporation
Cellular Modem Industry Poised for Significant Growth, Projected to Reach US$ 16.2 Billion by 2034
Cellular Modem Industry Poised for Significant Growth, Projected to Reach US$ 16 …
The Global Cellular Modem Market (携帯電話モデム市場) is poised for substantial growth, projected to expand from US$ 5.2 billion in 2023 to US$ 16.2 billion by 2034, reflecting a robust compound annual growth rate (CAGR) of 10.6%. This growth is propelled by escalating broadband connections worldwide and the increasing adoption of portable 5G networks, particularly in the military and defense sectors. Download Sample PDF from Here- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70089&utm_source=Openpr&utm_medium=Amit Market Dynamics: Cellular modems serve as crucial
Global System Integrator Market Poised for Significant Growth, Valued at $52.3 Billion by 2034: TMR Analysis
Global System Integrator Market Poised for Significant Growth, Valued at $52.3 B …
The Global System Integrator Market, valued at approximately $28.3 billion in 2023, is projected to experience substantial growth, with an estimated compound annual growth rate (CAGR) of 5.8% from 2024 to 2034. This surge is expected to elevate the market's value to around $52.3 billion by the end of the forecast period. The rise in the adoption of industrial robots and a surge in technological advancements are pivotal factors propelling the

All 5 Releases


More Releases for SIP

Semiconductor IP Market to 2025 - Global Analysis and Forecasts by Type (Process …
The global Semiconductor IP market is expected to grow to US$ 8,265.6 million by 2025 from US$ 3,346.1 million in 2017, growing at a CAGR of 11.9%. The semiconductor IP market is going through tremendous instability thereby plunging the CAPEX spending, due to persistent inventory adjustments in the Chinese smartphone industry. However, a remarkable growth has been witnessed in the automotive industry’s semiconductor demand amid the progression of advances in automotive
SIP Trunking Services Market - SIP Trunking Services Continue to be Used Extensi …
The SIP trunking services market in North America, Europe, and Asia Pacific is composed of several small and large vendors. These include Flowroute, Inc., 3CX Ltd., Nextiva, Inc., Twilio, Inc., Allstream, Inc., and Sangoma Technologies Corporation. Transparency Market Research finds that these companies have been depending on collaborations with local channel partners, geographical expansions, integration with WebRTC, and developing customized solutions for SMEs to sustain in this competitive market. For
Semiconductor IP Market to 2025 - Global Analysis and Forecasts by Type (CPU SIP …
A reusable unit logic or a cell or either a layout design that is developed to license it to multiple vendors for it being used as a building block in eventual designing of a chipset is a semiconductor Intellectual Property (IP). In today's scenario, more and more functionality is being integrated onto a single chipset and therefore the presence of a predesigned IP core block makes the entire chipset designing
SIP Trunking Services Market - SIP Trunking Services Continue to be Used Extensi …
The SIP trunking services market report provides analysis for the period 2014–2024, wherein the period from 2016 to 2024 is the forecast and 2015 is the base year. The report covers all the major trends and technologies playing a key role in the SIP trunking services market’s growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market’s growth during the said period
Global Trends in SiP Technology Development
Under the global trends where electronic products are getting thinner, multi-functional and low power, the SiP (System in Package) technology has grabbed increasing attention, especially in recent years where the demand for lightweight mobile devices and wearables rises. With the IoT (Internet of Things) era approaching, multi-functional integration and low power consumption are considered essential when selecting an electronic product. Hence, SiP is playing an increasingly important role in the
To Achieve Maximum SIP Value, Move Beyond SIP Trunking, Recommends Alsbridge
Award winning benchmarking, sourcing and transformation advisory firm, Alsbridge Inc., today released a report To Achieve Maximum SIP Value, Move Beyond SIP Trunking, discussing why enterprises fail to harness the full value of Session Initiation Protocol (SIP), in spite of it being considered an extremely powerful communications enabler. Session Initiation Protocol is becoming an increasingly ubiquitous game-changer for businesses. Yet, many enterprises that have already deployed SIP, and many others