The SIP Trunking Market was valued at US$ 13.44 billion in 2019 and is projected to reach US$ 30.22 billion by 2027. The SIP trunking market is expected to grow at a CAGR of 10.8% during the forecast period of 2020 to 2027.

Telecommunication networks are getting evolved at a rapid rate as business are transforming toward globalization. International business calling services is gaining traction as communicating with other country clients, investors, and distributors has become simple and faster. Supporting infrastructure development of communication and logistic network is boosting the IP based call services ratio. Increasing use of smartphones, laptops, and cloud platforms with supporting infrastructural growth inexorably transformed the telecommunication industry. Advent of 5G, fiber optic, and other connectivity services enhanced the growth of Internet services in developed as well as developing nations. Rising development in Internet-based voice calling services is accelerating the SIP trunking market growth. Growing competition in voice carrying business has increased pressure on market players.

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SIP trunking Market – Company Profiles

8×8, INC.
AT&T Inc.
RINGCENTRAL INC.
PLIVO INC.
Telstra Corporation Limited
VERIZON COMMUNICATIONS INC.
VONAGE
TWILIO, INC
CENTURYLINK
BANDWIDTH INC.

Increasing adoption of internet-based calling apps and services is getting supported by the growing sale of smartphones and other network connected devices. The global SIP trunking market is segmented in terms of deployment type, end user, organization size, and geography. Based on deployment type, the market is segmented into on-premise and hosted. In terms ofend user, the market is segmented into education, IT &telecom, retail, media &entertainment, BFSI, healthcare, and government. Based on organization size, the market is segmented into small &medium businesses and large enterprises. Based on region, the market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East &Africa (MEA), and South America (SAM).

Impact of COVID-19 Pandemic on SIP Trunking Market

The COVID-19 pandemic has hampered the economic growth of almost every country. Office premises, public places, schools, and transportation remained closed, which declined market growth owing to low communications over voice. The telecommunication industry took several hits as the demand for business communication services decreased. The revenue model for voice has declined as no operations were carried during the lockdown period. On other hand, post lockdown, the market is emerged with a new growth model as businesses shifted toward remote working and work from home models. Communicational channel evolved with SIP trunking technology with supporting software and apps for laptops and smartphones. For instance, according to the i3forum, international voice traffic increased by 20% in March 2020, compared to the same month in 2019.

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Players operating in the SIP trunking market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the SIP trunking market. A few developments by key players of the SIP trunking market are:

In November, 2020,Vonage declared a strategic reseller partnership of Vonage Contact Center with Evolution to offer services across Spain. This agreement reinforces Evolution’s position as a leading independent cloud-based service provider in the region.

In 2019, Verizon Enterprise Solutions introduced voice services to let its customers combine with a Microsoft unified communications platform. The collaboration service integrates direct routing and SIP trunk connectivity, and helps Verizon’s network customers embed their voice infrastructures in the Microsoft Teams platform. Verizon’s Session Border Control as a Service powers the new service.

SIP trunking Market – Deployment Type

On-premise
HostedSIP trunking Market – by End User
Education
IT &Telecom
Retail
Media &Entertainment
BFSI
Healthcare
GovernmentSIP trunking Market – by Organization Size
Small &Medium Businesses
Large EnterprisesSIP trunking Market – by Geography
North America




US
Canada
MexicoEurope
UK
Germany
France
Italy
Russia
Rest of EuropeAsia Pacific (APAC)
China
Japan
India
Australia
South Korea
Rest of APACMiddle East &Africa (MEA)
Saudi Arabia
UAE
South Africa
Rest of MEASouth America (SAM)
Brazil
Argentina
Rest of SAM

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