Increased Worldwide Adoption of SIP Trunking Services across Small Organizations Drives Demand Opportunities in Market: TMR
- Global SIP trunking services market is predicted to gather valuation of approximately US$ 35.5 Bn by 2030. This growth is attributed to increased acceptance of SIP trunking services by small enterprises across the globe.
- On regional front, North America SIP trunking services market is foreseen to gather promising revenues during 2020-2030.
ALBANY, N.Y., Nov. 4, 2020 /PRNewswire/ -- Numerous organizations across the globe are inclined toward the acceptance of cloud-based SIP trunking services. One of the important reasons behind this growing acceptanceis the ability of these services to eliminate the requirement for installation of equipment infrastructure in organizations. Thus, increased adoption of these services is resulting into slashing down the need for installation and managementcost. This factor is likely to help in the expansion of SIP trunking services market during 2020 to 2030.
The global SIP trunking services market is projected to grow at promising CAGR of ~13% in the assessment period of 2020 to 2030. This growth is attributed to rising acceptanceof cloud-based communication solutions and remarkable reduction in the overall ownership cost owing to the introduction of the pay-as-you-go model.Apart from this, the SIP trunking services market is likely to experience stupendous growth on the back of increasing integration between SIP trunking services and private branch exchange systems.
Key Findings of SIP Trunking Services Market Report
The global SIP trunking services market is expected to expand at a CAGR of ~13% during the forecast period.
The marketis foreseen to gain the valuation of approximately US$ 10.6 Bn in 2020.
The total valuation of market for SIP trunking services is likely to reach US$ 35.5 Bn by end of 2030.
Based on deployment, the on-premise trunking services segment is projected to gather prominent market share.
Of all end-users, IT & telecom segment is projected to gain dominant position in the SIP trunking services market.
North America is lucrative region in the market for SIP trunking services.
The abovementioned region is estimated to gain valuation of US$ 3,955.9 Mn by 2020 end.
Explore 224 pages of top-notch research, incisive insights, and detailed country-level projections on SIP Trunking Services Market (Deployment: Hosted and On-premise; Enterprise Size: Small & Medium Enterprise and Large Enterprise; and End User: BFSI, IT & Telecom, Retail, Government, Healthcare, Education, Media & Entertainment, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/sip-trunking-services-market.html
SIP Trunking Services Market: Key Driving Factors and Promising Avenues
The global SIP trunking services marketis estimated to gain prominent sales opportunities from various end-user industries including IT, retail, BFSI, education, healthcare, and media & entertainment. This growth is attributed to plethora of factors.
In recent period, small enterprises across the globe are inclined toward the use of cloud-based SIP trunking services. One of the key factors supporting this wide acceptance is cost-effectiveness of these services. This scenario is projected to help in the expansion of the SIP trunking services market in the forthcoming years.
The companies engaged in the telecom services are concentrated at providing cloud-based SIP trunking services to fulfill the rising demand for cloud solutions from all across the globe. All these factors are estimated to fuel the growth of the globalSIP trunking services market during assessment period of 2020 to 2030.
Analyze global SIP trunking services market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
The SIP trunking services market experiences presence of considerable number of well-entrenched players. As a result, the competitive landscape of the market for SIP trunking services is moderately intense.
Major vendors in the SIP trunking services market are growing focustoward development of innovative solutions in order to provide services as per the requirements of end users. This factor is likely to push market growth in the upcoming years.
The list of important companies working in the SIP trunking services market includes CenturyLink, Inc., AT&T Inc., Tata Communications Ltd., NTT Communications Corporation, Vodafone Group Plc, and Verizon Communications, Inc.
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