The SIP trunking services market
in North America, Europe, and Asia Pacific is composed of several small
and large vendors. These include Flowroute, Inc., 3CX Ltd., Nextiva,
Inc., Twilio, Inc., Allstream, Inc., and Sangoma Technologies
Corporation. Transparency Market Research finds that these companies
have been depending on collaborations with local channel partners,
geographical expansions, integration with WebRTC, and developing
customized solutions for SMEs to sustain in this competitive market. For
instance, 3CX has increased its customer base across high-potential
markets. In July 2016, the company expanded its reach in Denmark by
partnering with ALLNET Nordic, a Denmark-based distributor.
Companies’ Initiatives to Overcome Security and Interoperability Issues Prove Conducive for Market’s Growth
One of the key factors driving the SIP
trunking services market in North America, Europe, and Asia Pacific is
the large-scale migration of telecom companies to Internet Protocol
(IP)-based networks. “Several established players are taking initiatives
to shift their customers to IP networks owing to the benefits of SIP
trunking over traditional telephony services,” the author of the study
observes. For instance, Slovak Telekom, part of the Deutsche Telekom
Group, completed the migration of its entire customer base to the IP
network in December 2014.
The advantages of SIP trunking services
are many and this significantly favors the market. Greater scalability
to companies so as to add more channels over their existing trunks is
one such benefit.
For More Extensive Insights into the Global SIP Trunking Services Market, Request a Sample
“Data breach and interoperability issues
are some of the key challenges that the SIP trunking services market is
faced with in North America, Europe, and Asia Pacific,” the analyst
reports. The smooth functionality of SIP trunk calls is threatened by
the differences among service providers, vendors providing edge devices,
and IP-PBX. However, IP phone vendors as well as SIP trunk service
providers have been taking initiatives to conduct interoperability
tests.
Hosted SIP Trunking Services to Surpass On-premise Services in terms of Revenue by 2024
The opportunity in the SIP trunking
services market in North America, Europe, and Asia Pacific is poised to
rise from US$4.47 bn in 2015 to be worth US$20.70 bn by 2024, expanding
at a healthy 18.6% CAGR therein. By deployment, on-premise SIP trunking
services led the market in 2015, accounting for a share of nearly 67%.
“Hosted SIP trunking services, however, are anticipated to overtake
on-premise services by 2024 to account for a share of over 51%,” states
the analyst. This segment is projected to exhibit an impressive CAGR of
25.3% between 2016 and 2024. Based on geography, the SIP trunking
services market was led by North America in 2015, with Asia Pacific
emerging as the fastest growing regional segment by 2024.
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