Session Initiation Protocol (SIP) Trunking Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Session Initiation Protocol (SIP) Trunking Services Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026

LONDON, GREATER LONDON, UK, April 21, 2022 /EINPresswire.com/ -- The growth trend in the SIP market is emerging, post-pandemic, as companies stabilize their output after the extraordinary demand levels experienced during the COVID-19 outbreak. This growth rate is expected to continue through to 2026, with a CAGR of 12.4% ($23.58 annual revenue).

Lower communication costs are also driving growth in the SIP Trunking market. A report by Atlantech Online states that companies can reduce the Total Cost of Ownership (TCO) by up to 60%, by switching to SIP trunking services.

Historically and currently, North America has been and is the lead market for SIP Trunking services, with a market share of 32% in 2016 and 34% in 2022. The other dominant regions in the market are Asia Pacific – 30% in 2016 and 29% in 2022 – and Western Europe – relatively static at 23% between 2016 and 2022. The market dominance of the Big Three regions is expected to continue through to 2031, however, not in the same proportions. BY 2031, the North America share is set to dip to 28% of the market, with Western Europe falling even more sharply to 17% and Asia Pacific coming out as a clear leader with 37% of the market.

In 2021, the USA was the biggest country market ($3.56 Bn), with China a distant second ($1.43 Bn). A long way behind comes Japan ($0.58 Bn), Germany ($0.45 Bn) and France ($0.43 Bn).

The session initiation protocol (SIP) trunking services market consists of sales of session initiation protocol trunking services by entities (organizations, sole traders and partnerships) that is offered by a communications service provider that uses the SIP protocol to provide voice over IP (VoIP) connectivity between the on-premises phone system and the public switched telephone network (PSTN). The SIP trunking service is used for call establishment, session management, administration and teardown. SIP trunks are sold as a replacement for the digital primary rate interface (PRI), which is based on time-division multiplexing (TDM).

The main types of SIP trunking services are hosted and on-premise. A hosted private branch exchange (PBX) allows users to use PBX features, such as automated attendant, automatic call distribution, voicemail, and call transfer, without having to own or operate all of the essential equipment on their premises.

Hosted solutions account for 25% of market in 2022 and this market segment is expected to grow to 29% by 2031. 75% of implementations are currently On-Premise, but a downward trend will reduce this to 71% by 2031.

The major players in the SIP trunking services industry are 8x8 Inc., Verizon Communications, 3CX, AT&T Inc, Bandwidth, BT Group plc, CenturyLink, Colt Inc., Flowroute, Fusion Connect, Inc., GTT Communications Inc., IntelePeer Inc., Level 3 Communications, Mitel Networks Corporation, Net2Phone, Nextiva Inc., NTT Communications Corporation, Rogers Communications, Tata Communications Ltd., Telstra Inc., Twilio Inc., Vodafone Group PLC, Vonage Holdings Corporation, Voyant Communications LLC., West Corporation, Allstream Inc., Plivo Inc, Ringcentral Inc., Sangoma Technologies Corporation, ShoreTel Inc., and Sprint Corporations.

As per data on the Global Market Model, the SIP Trunking Services Market Report is one of a series of new reports from The Business Research Company that provides SIP trunking market overviews, analyzes and forecasts SIP trunking market size, share, SIP trunking market players, SIP trunking market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.

Related reports on this topic include:
Voice Over Internet Protocol (VoIP) Global Market Report 2022 - By Type (Integrated Access Or Session Initiation Protocol (SIP) Trunking, Managed IP PBX, Hosted IP PBX), By Access Type (Phone To Phone, Computer To Computer, Computer To Phone), By Call Type (International VoIP Calls, Domestic VoIP Calls), By Medium (Fixed, Mobile), By End User (Consumers, Small And Medium Businesses, Large Enterprises) - Market Size, Trends, And Global Forecast 2022 - 2026
https://www.thebusinessresearchcompany.com/report/voice-over-internet-protocol-global-market-report

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