Press release
Global Session Initiation Protocol (SIP) Trunking Services Market to Reach $31.69 Billion by 2029, Growing at 14.1% CAGR
Session Initiation Protocol SIP Trunking Services
The growth of the SIP trunking service market is being fueled by the decrease in communication expenses. Transitioning to SIP (session initiation protocol) offers businesses advantages such as reduced cost, adaptable bandwidth allocation, improved video and audio quality, among others. Atlantech Online, a U.S.-based concern that provides telephone, internet, and data center services to enterprises and public sector entities, has noted that by changing to SIP, a company can on average cut their communication costs by between 20% to 60%. Moreover, the charges for SIP calls are lower, varying between $1.67 to $15 monthly per channel. Consequently, this decrease in communication costs is anticipated to spur the expansion of the SIP trunking service market in the forthcoming years.
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What is the projected compound annual growth rate (CAGR) of the session initiation protocol (sip) trunking services market from 2025 to 2034, and what factors influence it?
There has been rapid expansion in the market size of session initiation protocol (SIP) trunking services in recent times. The market value is predicted to rise from $16.75 billion in 2024 to $18.67 billion in 2025, representing a compound annual growth rate (CAGR) of 11.4%. This growth during the historical period is a result of increased adoption of cloud-based applications by SMEs, cost-effectiveness of SIP trunking, technological evolution, and robust economic growth in developing markets.
The market size of the session initiation protocol (SIP) trunking services is projected to witness swift expansion in the coming years. The market is set to reach $31.69 billion in 2029, with a compound annual growth rate (CAGR) of 14.1%. Factors attributing to the growth during the predicted period include immediate return on investment, the surge in smart cities, the tremendous increase in VOIP, growing popularity of cloud-based sip trunking services in emerging regions, and the advancement of IoT. Throughout the forecast period, key trends will involve strategic partnerships with tech companies, continued enhancements to existing products for improved flexibility and usability of the services, and tactical purchasing of industry-leading or innovative businesses.
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What trends are poised to drive the future success of the session initiation protocol (sip) trunking services market?
One significant trend gaining traction in the SIP trunking service market is the adoption of cloud-based SIP trunking services. Service providers in this market offer SIP or VoIP (Void over IP) services that can be procured and managed virtually, without any complications. This trend has led to a decrease in service costs, with the provider handling all aspects of SIP trunks and bandwidth. The most notable advantage of a cloud-based SIP trunk is its accessibility from any location at any given time. For example, Onsip, a unified communication service provider, reports that small businesses who transition to VoIP could potentially cut costs by 40% on local calls and as much as 90% on international calls.
What are the major segments of the session initiation protocol (sip) trunking services market and their role in driving growth?
The session initiation protocol (SIP) trunking services market covered in this report is segmented -
1) By Type: Hosted, On-Premise
2) By Organization Size: Small Businesses, Mid-Sized Businesses, Large Enterprises
3) By End-User: BFSI, Healthcare And Life Sciences, Telecommunications And IT, Government And Public Sector, Manufacturing, Consumer Goods And Retail, Media And Entertainment, Others
Subsegments:
1) By Hosted: Cloud-Based Solutions, Managed Services, Virtual SIP Trunking
2) By On-Premises: Integrated Solutions With PBX, Hardware-Based SIP Trunks, Dedicated Line Services
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Which regions are key players in the growth of the session initiation protocol (sip) trunking services market?
North America was the largest region in the Session Initiation Protocol (SIP) trunking services market in 2024. Europe was the second-largest market in the SIP trunking services market. The regions covered in the session initiation protocol (sip) trunking services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the session initiation protocol (sip) trunking services market?
Major companies operating in the session initiation protocol (SIP) trunking services market include AT&T Inc., Verizon Communications Inc., Lumen Technologies, Inc., Twilio Inc., GTT Communications, Inc., BT Group plc, Vonage, Mitel Networks Corporation, Bandwidth Inc., Sangoma Technologies Corporation, Calncall, SingTel, MyRepublic, Netpluz, AlienVoIP, Invite Communications, VoIP Unlimited, OBM Automation Private Limited, GoVOIP, OnSIP, RingCentral MVP, Sonetel, VND Solutions Limited, Insider Telemax, T-Max, Optimal Technology Ltd, China Mobile Limited, A-Z Telecom, Telnyx, Atos SE, Deutsche Telekom, Babble Cloud, Gamma, Spitfire, TalkTalk Business, Xinix, Zen, Mango Office, AstraQom, Beeline, MCN Telecom, Direct Call, Datora, Nvoip, VIVO, Vono, Central IP, Convergia, AVOXI, Net2Phone, Switch2Voip, Cheap SIP Trunking Qatar, Blue lynx, Ooredoo Qatar, Hivoox, 3CX, DIDWW, Telkom Kenya Limited, PBX Kenya, CM.com, ipNX Nigeria Limited, MTN Business, Wanatel South Africa
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What Is Covered In The Session Initiation Protocol (SIP) Trunking Services Global Market Report?
• Market Size Forecast: Examine the session initiation protocol (sip) trunking services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the session initiation protocol (sip) trunking services market for a structured understanding.
• Key Players Overview: Analyze major players in the session initiation protocol (sip) trunking services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the session initiation protocol (sip) trunking services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the session initiation protocol (sip) trunking services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the session initiation protocol (sip) trunking services market.
• Industry Challenges: Identify potential risks and obstacles affecting the session initiation protocol (sip) trunking services market.
• Competitive Landscape: Review strategic developments in the session initiation protocol (sip) trunking services market, including expansions, agreements, and new product launches.
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