(IT-NEWSWIRE.COM, January 13, 2022 ) According to a new market research report "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", published by MarketsandMarkets™ , the SIP Trunking Services Market size 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 the reduction in the total cost of ownership by leveraging the pay-as-you-go model, an increasing adoption of cloud and Unified Communications (UC), and easy integration with Private Branch Exchange (PBX) systems.
Browse in-depth TOC on "SIP Trunking Services Market”
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=84754280
Small businesses segment to grow at the highest rate during the forecast period
In the SIP Trunking services market by organization size, the small businesses segment is expected to record the highest growth rate during the forecast period. Small businesses are adopting SIP Trunking services over Time-division Multiplexing (TDM) circuits, as SIP Trunking services are available at a lower cost and with varied pricing models. The need to enhance collaboration among remote and mobile workers is a major driving factor for the growing adoption of SIP Trunking services among small businesses.
Healthcare vertical to grow at the highest CAGR during the forecast period
In the SIP Trunking market by vertical, the healthcare vertical is expected to grow at the highest CAGR during the forecast period. For hospitals, communication and collaboration among staff members are critical to deliver urgent care. It is also a major driving factor for the adoption of SIP Trunking services in hospitals and other healthcare facilities. Cloud-based telecommunication, in the form of Voice over Internet Protocol (VoIP) telephony, enables medical professionals to stay connected with their patients and centers of operations from heterogeneous locations, at any time of the day.
North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the global SIP Trunking services market. The region is the mature market comprising the US and Canada. These countries dominate the global SIP Trunking market with developed economies, empowering them to strongly invest in Research and Development (R&D) activities for the development of new technologies.
Speak to Research Expert @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=84754280
Key players in the global SIP Trunking services market include 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), and Windstream (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/sip-trunking-services.asp
Mr. Aashish Mehra