The global Session Initiation Protocol (SIP) trunking market is expected to grow at a compound annual growth rate (CAGR) of 18.2 per cent between 2017 and 2021, according to new research.
Big Market Research revealed this in its ‘Global Session Initiation Protocol Trunking Market 2017-2022 report.
Meanwhile, business consulting firm Frost & Sullivan has announced that its own research has shown that SIP trunking market revenue will grow at a CAGR of 21.5 per cent to 2020, while the user base will increase at a CAGR of 18.1 per cent.
According to Frost & Sullivan, the benefits of Voice over Internet Protocol (VoIP) access and SIP trunking services are driving enterprise customers to make the transition to fully converged IP-based networks, without the need to overhaul their existing IT networks.
The company explained that disruptive pricing, packaging, feature/functionality and business models within the existing VoIP and SIP trunking market, as well as the emerging Communications Platform as a Service (CPaaS) market, are increasing adoption among enterprises and resulting in more competition between service providers.
Frost & Sullivan digital transformation industry analyst Michael Brandenburg said: “There are significant opportunities for providers of IP-based voice access to build on current successes and branch out into the emerging CPaaS arena.”
SIP trunking offers real benefits to businesses. For example, it provides a flexibility that is not offered through traditional Integrated Services Digital Network (ISDN). It can also support businesses by allowing them to decide which number they want to display on a call-by-call basis.
With ISDN struggling to keep up with the demands of modern businesses, it is no surprise that more firms are seeing the benefits of SIP trunking.
Arrow can offer your business cost-effective and easily implemented SIP trunking services that can result in greater continuity.