Market Overview:
Session Initiation Protocol is the way to achieve a voice-over IP (VoIP) call. It’s an application layer protocol for setting up real-time sessions of audio and/or video between two endpoints. SIP is the technology that creates, modifies, and terminates sessions with one or more parties in an IP network, whether a two-way call or a multi-party conference call. It has emerged as effective cost-saving service and its adoption continues to grow across various sectors. and North America will dominate the SIP trunking services market because of the high adoption rates of advanced technologies and the major presence of key players along with increasing investments in the SIP trunking services market, especially in the United States and Canada.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Mitel (Canada), Rogers Communications (Canada), Sangoma Technologies Corp. (Canada), AT&T Inc. (United States), Verizon Communications (United States), CenturyLink (United States), Twilio Inc. (United States), Bandwidth (United States), GTT Communications (United States) and Voyant Communications (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Players of Sip Trunking Services Market Study:
Mitel (Canada), Rogers Communications (Canada), Sangoma Technologies Corp. (Canada), AT&T Inc. (United States), Verizon Communications (United States), CenturyLink (United States), Twilio Inc. (United States), Bandwidth (United States), GTT Communications (United States) and Voyant Communications (United States)
Sip Trunking Services Market Segment Analysis
Scope | Sub-Segments |
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Deployment Type | On-premise,Hosted |
Organisation Size | Large Organisation,Small & Medium Organisation |
End User | BFSI,Telecom and IT,Health Care & Life Sciences,Consumer Goods & Retail,Media and Entertainment,Government & Public Sector,Manufacturing,Others |
Market Growth Drivers:
Increasing Adoption of SIP Trunking Services in Industry Verticals such as Healthcare and IT & Telecom, Growing Adoption of Unified Communication Solutions in Enterprise Environments and Cost-Effective Solution In Comparison With the Equivalent Analog Trunks
Challenges:
Difficulties in Implementing SIP Trunks and Growing Concerns over Quality of Service (QoS)
Restraints:
Interoperability is one of the Major Issues Faced by SIP Trunking Services in the Market and Rising Security Concerns among End Users
Opportunities:
Increasing Adoption of Cloud-Based Technologies
Some of the other players that are also part of study are NTT Communications Corp. (Japan), BT Group (United Kingdom), Vodafone (United Kingdom), Tata Communications (India), Nextiva, Inc. (United States), ShoreTel Inc. (United States) and 8x8, Inc. (United States). The Global Sip Trunking Services market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In April 2019, Verizon Communications partnered with Microsoft Corporation to provide cloud-based integrated connectivity solutions, including SIP trunking services. This cloud-based service is likely to reduce the requirement for organizations to invest in new hardware systems to combine their collaboration and communication efforts.
In October 2019, SkySwitch partnered with 3CX Ltd, to provide advanced level SIP trunking solutions to create and manage virtual connections. The initiative would help the company to improve its customer base and enhance its market presence worldwide.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Sip Trunking Services market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Sip Trunking Services market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes SIP Trunking Services Providers, Cloud Service Providers, Telecom Operators, System Integrators, Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Communication Service Providers (CSPs), End-Use Industries and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.