The global session initiation protocol (SIP) trunking market is expected to grow at a significant CAGR during the forecast period (2024-2031). The Session Initiation Protocol (SIP) trunk eliminates the need for traditional analog, T1-based Public Switched Telephone Network (PSTN) connections with termination, allowing businesses to connect to the internet via a SIP provider. As they offer PSTN service on a minute or channelized pricing model, these session initiation protocol providers are also known as Internet Telephony Service Providers.
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Over Internet Protocol (IP) networks, these session initiation protocols are frequently used for Internet telephony and instant messaging. One of the IP options for decreasing the utilization of fixed PSTN lines with a single link is the session initiation protocol trunk. This reduces the expense of several lines as well as the hardware needs for additional PRI ports. This cutting-edge approach enables the organization to address concerns such as scalability, maintenance, and convergence.
The cost-effectiveness of the solution is a primary driver of SIP trunk service. Instead of being stuck into surplus analog lines or partially-used T1s and PRIs, organizations can pay for the number of lines they need with the SIP trunk. This saves money as the user just buys the channels they need and only pays for the time they utilize them. Furthermore, by incorporating VoIP services into the session initiation protocol trunk, it supports improving service reliability. The security crackdown is a major stumbling block for the SIP trunk industry. The integration of voice over internet protocol (VoIP) with SIP trunk services has an impact on security as if the SIP trunk is stolen, the VoIP password is easier to crack. Furthermore, when a SIP server is hacked, the hacker can cause harm to the trunk by inserting falsified source code that leads to a road map.
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Market Coverage
- Segment Covered-
o By End-User
- Competitive Landscape: AT & T, Inc., Verizon Communications Inc., and NTT Communications, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Session Initiation Protocol (SIP) Trunking Market Report Segmentation
By Product Type
- On-Premise SIP Trunking
- Hosted SIP Trunking
By End-User
- BFSI
- IT and Telecom
- Energy and Utilities
- Manufacturing
- Transportation & Logistics
- Others (Education, Travel & Tourism)
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