Nov 4, 2020   SOURCE: PR NewsWire

Increased Worldwide Adoption of SIP Trunking Services across Small Organizations Drives Demand Opportunities in Market: TMR

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.

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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.

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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

SIP Trunking Services Market: Competitive Assessment

    --  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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The SIP trunking services market can be segmented as follows:

Deployment

    --  Hosted
    --  On-premise

Enterprise Size

    --  Small & Medium Enterprise
    --  Large Enterprise

End-user

    --  BFSI
    --  IT & Telecom
    --  Retail
    --  Government
    --  Healthcare
    --  Education
    --  Media & Entertainment
    --  Others

Region

North America

    --  U.S.
    --  Canada
    --  Mexico

Europe

    --  Germany
    --  U.K.
    --  France
    --  Italy
    --  Spain
    --  Rest of Europe

Asia Pacific

    --  China
    --  India
    --  Japan
    --  ASEAN
    --  Australia
    --  Rest of Asia Pacific

Middle East & Africa

    --  United Arab Emirates
    --  Saudi Arabia
    --  South Africa
    --  Rest of Middle East & Africa

South America

    --  Brazil
    --  Argentina
    --  Rest of South America

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