Session Initiation Protocol (SIP) Trunking Services Global Market To Reach Value Of About $21 Billion In 2025

The SIP trunking service market consists of sales of session initiation protocol (SIP) trunk and related services by entities (organizations, sole traders, and partnerships) that is offered by a communications service provider that uses the ability to give voice over IP (VoIP) connectivity between the on-premises phone system and public switched telephone network (PSTN). The SIP trunking service is used for call establishment, administration and teardown. SIP trunks are sold as a replacement for the digital primary rate interface (PRI), which is based on time-division multiplexing (TDM).

Global Session Initiation Protocol (SIP) Trunking Services Market Size And Drivers:

The global session initiation protocol (SIP) trunking services market is expected to grow from $11.29 billion in 2020 to $13.03 billion in 2021 at a compound annual growth rate (CAGR) of 15.4%. The change in growth trend of the SIP trunking service market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The SIP trunking service market is expected to reach $20.67 billion in 2025 at a CAGR of 12.2%. The reduction in communication costs is contributing to the growth of the SIP trunking service market.

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Trends In The Global Session Initiation Protocol (SIP) Trunking Services Market

Cloud-based SIP trunking service is a key trend gaining popularity in the SIP trunking service market. SIP trunking service providers offer cloud-based SIP or VoIP (Voice over IP) that can be bought and maintained virtually without any hassle. It has reduced service cost, the provider takes all the responsibility for SIP trunks, bandwidth and the best part of a cloud-based SIP trunk is that the system can be accessed from anywhere at any time. For instance, according to Onsip, a unified communication service provider, small businesses that migrate to VoIP might save costs up to 40% on local calls and 90% on international calls.

Global Session Initiation Protocol (SIP) Trunking Services Market Segments:
The global session initiation protocol (SIP) trunking services market is further segmented –
By Type: Hosted, On Premise
By Organization Size: Small Businesses, Mid-Sized Businesses, Large Enterprises
By End User: BFSI, Healthcare And Life Sciences, Telecommunications And IT, Government And Public Sector, Manufacturing, Consumer Goods And Retail, Media And Entertainment, Others
By Geography: The global session initiation protocol (SIP) trunking services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American SIP trunking services market accounts for the largest share in the global session initiation protocol trunking services market.

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Session Initiation Protocol (SIP) Trunking Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides session initiation protocol (SIP) trunking services market overviews, analyzes and forecasts market size and growth for the global session initiation protocol (SIP) trunking services market, session initiation protocol (SIP) trunking services market share, session initiation protocol (SIP) trunking services market players, session initiation protocol (SIP) trunking services market segments and geographies, session initiation protocol (SIP) trunking services market’s leading competitors’ revenues, profiles and market shares. The session initiation protocol (SIP) trunking services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.