Dublin, Dec. 04, 2018 (GLOBE NEWSWIRE) -- The "SIP Trunking Services Market by Organization Size (Small Businesses, Mid-sized Businesses, and Enterprises), End-user (Wholesale and Verticals (BFSI, Healthcare, Government, High-Tech, Retail, and Education)), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global SIP Trunking services market size is expected to grow from USD 7.63 billion in 2018 to USD 12.70 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.7% during the forecast period.
Major growth drivers for the market include reduction in the total cost of ownership by leveraging the pay-as-you-go model, increasing adoption of cloud and UC, and easy integration with Private Branch Exchange (PBX) systems. However, concerns overs security and privacy may restrain the market growth.
Enterprises segment to hold the largest market size during the forecast period
The enterprises segment is expected to hold the largest market size in the SIP Trunking services market by organization size during the forecast period. SIP Trunking helps enterprises break down the barriers between people using different communication modes, media, and devices to communicate with anyone, from anywhere, and at any time. Enterprises across verticals are at the forefront in adopting SIP Trunking services, as these services meet the critical communication requirements of enterprises by providing cost-effective and reliable centralized communication systems.
Banking, Financial Services, and Insurance (BFSI) vertical to hold the largest market size during the forecast period
The BFSI vertical is expected to hold the largest market size in the SIP Trunking market by vertical during the forecast period. BFSI companies are under significant pressure to offer anytime connectivity to value chain partners and customers while ensuring the low operational costs and communication delay. SIP Trunking services help simplify communication management and cost reduction. The services also offer multiple benefits, including customized inbound call routing for fast and efficient call processing, full integration with existing or new external paging systems, cell phone and smartphone integration, interconnection of various branches, and seamless call transfers between locations.
Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
The APAC region is expected to provide significant growth opportunities for vendors of SIP Trunking services during the forecast period, the region demonstrates a combination of high growth, developing economies, and mass adoption of mobile and internet. Rapid advancements in network infrastructure, cloud computing, telecom, and IoT have encouraged many enterprises to adopt SIP Trunking services. With the increasing pressure to achieve greater business agility, more IT organizations in the APAC region are planning to adopt the SIP trunk services in the business environment to function properly, improve operational efficiency, and reduce cost. The emergence of pay-as-you-go model is driving the adoption of SIP Trunking services specifically among SMEs.
The report profiles the following key vendors in the global SIP Trunking services market:
- AT&T (US)
- 8x8 (US)
- Bandwidth (US)
- BT Group (UK)
- CenturyLink (US)
- Colt (UK)
- Fusion (US)
- GTT Communications (US)
- IntelePeer (US)
- Mitel (Canada)
- Net2Phone (US)
- Nextiva (US)
- Orange (France)
- Rogers Communications (Canada)
- Sprint (US)
- Tata Communications (India)
- Telstra (Australia)
- Twilio (US)
- Verizon (US)
- Vodafone (UK)
- Vonage (US)
- Voyant Communications (US)
- West Corporation (US)
- Windstream (US)
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the SIP Trunking Services Market
4.2 Market Share of Top 3 Verticals and Regions
4.3 Market Investment Scenario
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Reduced TCO By Leveraging the Pay-As-You-Go Model
5.2.1.2 Rising Adoption of Cloud and UC
5.2.1.3 Ease of Integration With PBX Systems
5.2.2 Restraints
5.2.2.1 Security and Privacy Concerns
5.2.3 Opportunities
5.2.3.1 Increasing Demand for SIP Trunking Services Among SMEs
5.2.3.2 Untapped Potential Markets
5.2.4 Challenges
5.2.4.1 Increasing Concerns Over QOS
5.2.4.2 Difficulties in Implementing SIP Trunks
5.3 SIP Trunking Services Architecture
6 SIP Trunking Services Market, By Organization Size
6.1 Introduction
6.2 Small Businesses
6.3 Mid-Sized Businesses
6.4 Enterprises
7 SIP Trunking Services Market, By End-User
7.1 Introduction
7.2 Verticals
7.2.1 Banking, Financial Services, and Insurance
7.2.2 High-Tech
7.2.3 Government
7.2.4 Healthcare
7.2.5 Education
7.2.6 Retail
7.2.7 Transportation and Logistics
7.2.8 Manufacturing
7.2.9 Travel and Hospitality
7.2.10 Others
7.3 Wholesale
8 SIP Trunking Services Market, By Region
8.1 Introduction
8.2 North America
8.2.1 United States
8.2.2 Canada
8.3 Europe
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 Australia
8.4.3 Rest of Asia Pacific
8.5 Middle East and Africa
8.5.1 Kingdom of Saudi Arabia
8.5.2 United Arab Emirates
8.5.3 Rest of Middle East and Africa
8.6 Latin America
8.6.1 Brazil
8.6.2 Mexico
8.6.3 Rest of Latin America
9 Competitive Landscape
9.1 Overview
9.2 Competitive Scenario
9.2.1 Partnerships, Agreements, and Collaborations
9.2.2 New Product/Service Launches and Product Enhancements
9.2.3 Mergers and Acquisitions
9.2.4 Business Expansions
10 Company Profiles
10.1 Introduction
10.2 AT&T
10.3 BT Group
10.4 Centurylink
10.5 Fusion
10.6 Verizon
10.7 8x8
10.8 Windstream
10.9 Bandwidth
10.10 Colt Technology Services
10.11 GTT Communications
10.12 Intelepeer
10.13 Mitel Networks
10.14 Net2phone (IDT Corporation)
10.15 Nextiva
10.16 Orange
10.17 Rogers Communications
10.18 Sprint
10.19 Tata Communications
10.20 Telstra
10.21 Twilio
10.22 Vodafone
10.23 Vonage
10.24 Voyant Communications
10.25 West Corporation
For more information about this report visit https://www.researchandmarkets.com/research/t2qbsh/12_7_billion_sip?w=12
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