Global SIP Trunking Services Market Size study & Forecast, by Organization Size (Small Businesses, Mid-sized Businesses, Large Enterprises), by End User (Verticals, Wholesale) and Regional Analysis, 2023-2030

Global SIP Trunking Services Market Size study & Forecast, by Organization Size (Small Businesses, Mid-sized Businesses, Large Enterprises), by End User (Verticals, Wholesale) and Regional Analysis, 2023-2030

Global SIP Trunking Services Market is valued at approximately USD 11.44 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.7% over the forecast period 2023-2030. SIP trunking, or Session Initiation Protocol trunking, is a technology used in telecommunications to enable the connection of a private branch exchange (PBX) system to the Internet or a data network for the purpose of making voice, video, and other real-time communications over the Internet Protocol network. The SIP Trunking Services market is expanding because of factors such as increasing adoption of cloud platforms and growing demand for Unified Communications-as-a-Service. SIP trunking essentially replaces traditional analog or digital telephone lines with a virtual connection that uses the same protocols as VoIP Voice over Internet Protocol to transmit voice and multimedia sessions. As a result, the demand for SIP Trunking Services has progressively increased in the international market during the forecast period 2023-2030.

Cloud platforms offer on-demand scalability, allowing businesses to quickly adjust their SIP trunking capacity based on changing communication needs. This is particularly beneficial for businesses with fluctuating call volumes or those experiencing growth. According to Statista,
In 2021, the global market for cloud applications was valued at USD 133.6 billion, and projected to reach a value of USD 168.6 billion by 2025. Furthermore, in 2022, Amazon Web Services (AWS) held the dominant position in the cloud infrastructure services sector, commanding a significant 32% share of the overall market, followed by Microsoft Azure secured the second spot with a 23% market share, while Google Cloud claimed a 10% market share. Collectively, these three leading cloud service providers accounts 65% of the total expenditure during the same period. Another important factor that drives the SIP Trunking Services market is the increasing demand for Unified Communications-as-a-Service. UCaaS often includes voice services as part of its offering. SIP trunking plays a pivotal role in enabling voice communication within UCaaS platforms. SIP trunks connect the UCaaS platform to the public switched telephone network (PSTN), allowing users to make and receive calls to and from traditional landline and mobile numbers. In addition, as per Statista, the global unified communications & collaboration market grew by more than 9.8% year over year and reached a size of USD 59.3 billion in 2022 Moreover, increase in usage of Bring Your Own Device and a rising number of small and medium enterprises are anticipated to create lucrative growth opportunities for the market over the forecast period. However, growing concerns over quality of service and technical complexity are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global SIP Trunking Services Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to an increase in the adoption of cloud-based solutions and SIP trunking services in large enterprises in the region. The region’s dominant performance is anticipated to propel the overall demand for SIP Trunking Services. Furthermore, Asia Pacific is anticipated to grow fastest over the forecast period, owing to factors such as increasing demand for cloud-based SIP or VoIP and expansion of the small and medium enterprises sector in the region.

Major market player included in this report are:
CenturyLink, Inc
AT&T Corporation
GTT Communications, Inc
Net2Phone, Inc
Mitel Networks Corporation
British Telecommunications plc
Colt Technology Services Group Limited
Fusion Connect, Inc
IntelePeer Cloud Communications LLC
Bandwidth Inc

Recent Developments in the Market:
 In July 2023, Nuacom and DIDWW announced an expanded strategic relationship. DIDWW, a global telecom operator, provides enterprises and telecom carriers with high-quality VoIP communication and SIP trunking services. Furthermore, Nuacom's extensive collaboration with DIDWW allows the supplier of Cloud Phone Systems to use not only DIDWW's two-way Voice and SMS services and also their sophisticated outbound SIP trunking solution. DIDWW VoIP services provide outstanding audio quality, almost unlimited call capacity with adjustable SIP trunk settings, and the greatest degree of service reliability via a private, worldwide IP network. This combination of features provides organisations with a dependable and effective communication option.

Global SIP Trunking Services Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Organization Size, End User, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Organization Size
Small Businesses
Mid-sized Businesses
Large Enterprises

By End User
Verticals
Wholesale

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
CenturyLink, Inc
AT&T Corporation
GTT Communications, Inc
Net2Phone, Inc
Mitel Networks Corporation
British Telecommunications plc
Colt Technology Services Group Limited
Fusion Connect, Inc
IntelePeer Cloud Communications LLC
Bandwidth Inc

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