This report describes and evaluates the global session initiation protocol (SIP) trunking services market. It covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031.
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.
Growth in the historic period resulted from growing adoption of the cloud-based applications in SME’s, const-effectiveness in SIP trunking, technology development, and strong economic development in emerging markets. Factors that negatively affected growth in the historic period were cybersecurity concerns, government regulations, capital intensive nature of SIP trunking services, and high energy consumption.
Going forward, instant return on investment realization, increasing smart cities, the exponential growth in VoIP, rising adoption of cloud-based SIP trunking services in developing regions, and IOT will drive market growth. Factors that could hinder the growth of the session initiation protocol (SIP) trunking services market in the future include skills shortage and data localization.
The session initiation protocol (SIP) trunking services market is segmented by type into hosted and on-premise. The on-premise market was the largest segment of the session initiation protocol (SIP) trunking services market by type, accounting for 74.7% of the total market in 2021. The hosted market is expected to be the fastest-growing segment going forward at a CAGR of 12.0% during 2021-2026 period.
The session initiation protocol (SIP) trunking services market is segmented by end-user into BFSI, healthcare and life sciences, telecommunications and IT, government and public sector, manufacturing, consumer goods and retail, media and entertainment, and others. The BFSI market was the largest segment of the session initiation protocol (SIP) trunking services market by end-user, accounting for 38.1% of the total market in 2021. The healthcare and life sciences market is expected to be the fastest-growing segment in session initiation protocol (SIP) trunking services market is segmented by lease type, going forward at a CAGR of 12.2% during 2021-2026 period.
The session initiation protocol (SIP) trunking services market is segmented by organization size into small businesses, mid-sized businesses, and large enterprises. The large enterprises was the largest segment of the session initiation protocol (SIP) trunking services market by organization size, accounting for 46.1% of the total market in 2021. The small businesses segment is expected to be the fastest-growing segment in session initiation protocol (SIP) trunking services market is segmented by organization size, going forward at a CAGR of 11.7% during 2021-2026 period.
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 impact of COVID-19 rise has been relatively low on the SIP trunking services market with demand for online video conferencing and remote working during the pandemic. Video calling over SIP is one of the important options that entrepreneurs chose during the pandemic, due to its seamless connectivity and ease of operations. The growth of SIP trunking services was strong during the pandemic due to perpetual transition to UCaaS solutions, coupled with Bring Your Own Carrier (BYOC) connectivity.
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.
The top growth potential in the session initiation protocol (SIP) trunking services market by type will arise in the on-premise market, which will gain $1,906.1 million of global annual sales by 2026. The top growth potential in the session initiation protocol (SIP) trunking services market by organization size will arise in large enterprises market, which will gain $3,527.7 million of global annual sales by 2026. The top growth potential in the session initiation protocol (SIP) trunking services market by end-user will arise in BFSI market, which will gain $2,995.9 million of global annual sales by 2026. The session initiation protocol (SIP) trunking services market size will gain the most in the USA at $1,906.1 million.
Market-trend-based strategies for the session initiation protocol (SIP) trunking services market include focusing of offering cloud-based trunking services, investing in BYOC SIP trunking services, focusing on strategic merger and acquisition strategy to expand their market reach and competitiveness, and technological advancements.
Player-adopted strategies in the session initiation protocol (SIP) trunking services industry include strategic collaboration with technology-players, additional developments towards existing products to increase flexibility and usability of the trunking services, and strategic acquisition of established or innovative companies in the industry.
To take advantage of the opportunities, the publisher reccomends the session initiation protocol (SIP) trunking services companies to focus on cloud-based SIP trunking services, offer BYOC (bring your own carrier) SIP trunking, focus on technological advancements, expand in emerging markets, scale up through merger and acquisition activity, outsource activities to low-cost countries to save costs, offer attractive pricing, adopt subscription model-based pricing, provide freemium models, leverage social media, participate in trade shows and events, conduct seminars to generate awareness on the benefits of SIP trunking, focus on fast-growing end-use industries, offer services to startups and increase partnerships with IT and telecom companies.
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.
Growth in the historic period resulted from growing adoption of the cloud-based applications in SME’s, const-effectiveness in SIP trunking, technology development, and strong economic development in emerging markets. Factors that negatively affected growth in the historic period were cybersecurity concerns, government regulations, capital intensive nature of SIP trunking services, and high energy consumption.
Going forward, instant return on investment realization, increasing smart cities, the exponential growth in VoIP, rising adoption of cloud-based SIP trunking services in developing regions, and IOT will drive market growth. Factors that could hinder the growth of the session initiation protocol (SIP) trunking services market in the future include skills shortage and data localization.
The session initiation protocol (SIP) trunking services market is segmented by type into hosted and on-premise. The on-premise market was the largest segment of the session initiation protocol (SIP) trunking services market by type, accounting for 74.7% of the total market in 2021. The hosted market is expected to be the fastest-growing segment going forward at a CAGR of 12.0% during 2021-2026 period.
The session initiation protocol (SIP) trunking services market is segmented by end-user into BFSI, healthcare and life sciences, telecommunications and IT, government and public sector, manufacturing, consumer goods and retail, media and entertainment, and others. The BFSI market was the largest segment of the session initiation protocol (SIP) trunking services market by end-user, accounting for 38.1% of the total market in 2021. The healthcare and life sciences market is expected to be the fastest-growing segment in session initiation protocol (SIP) trunking services market is segmented by lease type, going forward at a CAGR of 12.2% during 2021-2026 period.
The session initiation protocol (SIP) trunking services market is segmented by organization size into small businesses, mid-sized businesses, and large enterprises. The large enterprises was the largest segment of the session initiation protocol (SIP) trunking services market by organization size, accounting for 46.1% of the total market in 2021. The small businesses segment is expected to be the fastest-growing segment in session initiation protocol (SIP) trunking services market is segmented by organization size, going forward at a CAGR of 11.7% during 2021-2026 period.
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 impact of COVID-19 rise has been relatively low on the SIP trunking services market with demand for online video conferencing and remote working during the pandemic. Video calling over SIP is one of the important options that entrepreneurs chose during the pandemic, due to its seamless connectivity and ease of operations. The growth of SIP trunking services was strong during the pandemic due to perpetual transition to UCaaS solutions, coupled with Bring Your Own Carrier (BYOC) connectivity.
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.
The top growth potential in the session initiation protocol (SIP) trunking services market by type will arise in the on-premise market, which will gain $1,906.1 million of global annual sales by 2026. The top growth potential in the session initiation protocol (SIP) trunking services market by organization size will arise in large enterprises market, which will gain $3,527.7 million of global annual sales by 2026. The top growth potential in the session initiation protocol (SIP) trunking services market by end-user will arise in BFSI market, which will gain $2,995.9 million of global annual sales by 2026. The session initiation protocol (SIP) trunking services market size will gain the most in the USA at $1,906.1 million.
Market-trend-based strategies for the session initiation protocol (SIP) trunking services market include focusing of offering cloud-based trunking services, investing in BYOC SIP trunking services, focusing on strategic merger and acquisition strategy to expand their market reach and competitiveness, and technological advancements.
Player-adopted strategies in the session initiation protocol (SIP) trunking services industry include strategic collaboration with technology-players, additional developments towards existing products to increase flexibility and usability of the trunking services, and strategic acquisition of established or innovative companies in the industry.
To take advantage of the opportunities, the publisher reccomends the session initiation protocol (SIP) trunking services companies to focus on cloud-based SIP trunking services, offer BYOC (bring your own carrier) SIP trunking, focus on technological advancements, expand in emerging markets, scale up through merger and acquisition activity, outsource activities to low-cost countries to save costs, offer attractive pricing, adopt subscription model-based pricing, provide freemium models, leverage social media, participate in trade shows and events, conduct seminars to generate awareness on the benefits of SIP trunking, focus on fast-growing end-use industries, offer services to startups and increase partnerships with IT and telecom companies.
Table of Contents
1. Session Initiation Protocol (SIP) Trunking Services Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction
7. Session Initiation Protocol (SIP) Trunking Services Market Characteristics
8. Session Initiation Protocol (SIP) Trunking Services Market Trends And Strategies
9. Impact Of COVID-19 On Session Initiation Protocol (SIP) Trunking Services
10. Global Session Initiation Protocol (SIP) Trunking Services Market Size And Growth
11. Global Session Initiation Protocol (SIP) Trunking Services Market Segmentation
12. Session Initiation Protocol (SIP) Trunking Services Market, Regional And Country Analysis
13. Asia-Pacific Session Initiation Protocol (SIP) Trunking Services Market
14. Western Europe Session Initiation Protocol (SIP) Trunking Services Market
15. Eastern Europe Session Initiation Protocol (SIP) Trunking Services Market
16. North America Session Initiation Protocol (SIP) Trunking Services Market
17. South America Session Initiation Protocol (SIP) Trunking Services Market
18. Middle East Session Initiation Protocol (SIP) Trunking Services Market
19. Africa Session Initiation Protocol (SIP) Trunking Services Market
20. Global Session Initiation Protocol (SIP) Trunking Services Market Competitive Landscape
21. Key Mergers And Acquisitions In The Session Initiation Protocol (SIP) Trunking Services Market
22. Session Initiation Protocol (SIP) Trunking Services Market Opportunities And Strategies
23. Session Initiation Protocol (SIP) Trunking Services Market, Conclusions And Recommendations
24. Appendix
Executive Summary
Session Initiation Protocol (SIP) Trunking Services Global Market Opportunities And Strategies To 2031: COVID-19 Implications And Growth provides the strategists; marketers and senior management with the critical information they need to assess the global session initiation protocol (SIP) trunking services market as it emerges from the COVID 19 shut down.
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Description:
Where is the largest and fastest growing market for session initiation protocol (SIP) trunking services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The Session Initiation Protocol (SIP) Trunking Services Global Market Opportunities And Strategies To 2031: COVID-19 Implications And Growth answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Session Initiation Protocol (SIP) Trunking Services market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - The introduction section of the report gives a brief introduction about segmentation by geography and segmentation by type, by organization size and by end user.
- Market Characteristics - The market characteristics section of the report defines and explains the session initiation protocol (SIP) trunking services market. This chapter includes different products covered in the report and basic definitions.
- Trends And Strategies - This section describes the major trends shaping the global session initiation protocol (SIP) trunking services market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Impact of COVID-19 - This section describes the impact of COVID-19 on the session initiation protocol (SIP) trunking services market.
- Global Market Size And Growth - This section contains the global historic (2016-2021) and (2021-2026 and 2026-2031) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021) and forecast (2021-2026 and 2026-2031) market value and growth, and market share comparison by region.
- Market Segmentation - This section contains the market values (2016-2031) and analysis for segment by type, by organization size and by end user in the market.
- Regional Market Size And Growth - This section contains the region’s market size (2021), historic (2016-2021) and forecast (2021-2026 and 2026-2031) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa).
- Competitive Landscape - This section covers details on the competitive landscape of the global session initiation protocol (SIP) trunking services market, estimated market shares, and company profiles of the leading players.
- Key Mergers And Acquisitions - This section gives information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies - This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for session initiation protocol (SIP) trunking services providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations, and currencies codes used in this report.
Scope:
Markets Covered:
- 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
Companies Mentioned:
AT&T Inc.; Verizon Communications Inc.; Lumen Technologies, Inc.; Twilio Inc.; GTT Communications, Inc.
Countries:
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; Session Initiation Protocol (SIP) Trunking Services indicators comparison.
Data segmentations:
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- AT&T Inc.
- Verizon Communications Inc.
- Lumen Technologies, Inc.
- Twilio Inc.
- GTT Communications, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 269 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 11618.9 Million |
| Forecasted Market Value ( USD | $ 32804.7 Million |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
