The global session initiation protocol (SIP) trunking services market reached a value of nearly $11,618.9 million in 2021, having increased at a compound annual growth rate (CAGR) of 9.3% since 2016. The market is expected to grow from $11,618.9 million in 2021 to $19,463.4 million in 2026 at a rate of 10.9%. The market is then expected to grow at a CAGR of 11.0% from 2026 and reach $32,804.7 million in 2031.
Request Research Sample (270+ Pages Report): https://altusmarketresearch.com/reports/sample/43226
Growth in the global session initiation protocol (SIP) trunking services market resulted from...
- Growing adoption of cloud-based applications in SME’s,
- Const-effectiveness in SIP trunking, technology development,
- Strong economic development in emerging markets.
- Instant return on investment realization,
- Increasing smart cities,
- Exponential growth in VoIP,
- Rising adoption of cloud-based SIP trunking services in developing regions
- Rising adoption of IoT
%20Trunking%20Services.jpg)
Factors that could hinder the growth of the session initiation protocol (SIP) trunking services market in the future include...
- Skills shortage and data localization.
- Cybersecurity concerns
- Government regulations
- Capital intensive nature of SIP trunking services
- High energy consumption
Segmentation By Type
- Hosted
- On-Premise
Segmentation By Organization Size
1. Small Businesses
2. Mid-Sized Businesses
3. Large Enterprises
Segmentation By End User
1. BFSI
2. Healthcare And Life Sciences
3. Government and Public Sector
4. Manufacturing
5. Consumer Goods And Retail
6. Telecommunication and IT
7. Media and Entertainment
8. Other End Users
Session Initiation Protocol (SIP) Trunking Services Market Trends And Strategies
1. Cloud-based SIP Trunking service
2. BYOC (Bring Your Own Carrier) SIP Trunking
3. Continuous Mergers And Acquisitions
4. Technological Advancements
Make Purchase Inquiry: https://altusmarketresearch.com/reports/enquiry/43226
Global Session Initiation Protocol (SIP) Trunking Services Market, By Country, Historic and Forecast, 2016 – 2021, 2026F, 2031F, Value ($ Million)
North America was the largest region in the session initiation protocol (SIP) trunking services market, accounting for 34.3% of the global market in 2021. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the session initiation protocol (SIP) trunking services market will be South America and Asia Pacific, where growth will be at CAGRs of 15.7% and 14.2% respectively from 2021-2026.
The Report Covers:
1. Country Information
2. Market Information
3. Background Info
4. Government Initiatives
5. Regulations
6. Regulatory Bodies
7. Major Associations
8. Taxes Levied
9. Corporate Tax Structure
10. Investments
11. Major Companies
Major Players Analysis:
The global session initiation protocol (SIP) trunking services market is moderately fragmented, with a large number of regional players operating in the market. The top ten competitors in the market made up to 13.16% of the total market in 2021. Major players in the market include AT&T Inc., Verizon Communications Inc., Lumen Technologies, Inc., Twilio Inc., and GTT Communications, Inc.
