VoIP and SIP Trunking Capabilities Exceeds Traditional Voice Services
Published on: 26th Feb 2014
The broad acceptance of Internet protocol (IP) based communications within enterprises is fueling the North American voice over IP (VoIP) access and session initiation protocol (SIP) trunking market.
The advanced capabilities VoIP and SIP trunking provide to customers over traditional voice services drive much of the uptake. Moving from a nascent stage to one of long-term growth, the market continues to experience intense competition and consolidation among participants.
New analysis from Frost & Sullivan finds the market earned revenue of $2.83 billion in 2013 and estimates this to reach $9.35 billion in 2019. This analysis provides a market overview, drivers and restraints, forecasts and trends, market share and competitive analysis, and a last word of analyst predictions.
"Businesses are transitioning from legacy private branch exchange systems to IP-based unified communications platforms, and as such, are looking to VoIP access and SIP trunking services to complement these new platforms," said Frost & Sullivan Information and Communication Technologies Industry Analyst Michael Brandenburg (http://frost.com/MichaelBrandenburg). "Likewise, VoIP and SIP trunking offer business recovery and mobile features that are simply not available on more traditional telecommunications services."
Nonetheless, hosted or cloud unified communications (UC) services offer a compelling alternative to on-premises UC platforms, effectively shutting VoIP access and SIP trunking services out of consideration in several North American firms. Moreover, lack of customer awareness on the benefits of IP-based trunking services remains a challenge for service providers.
With hosted UC solutions vying for the same customers as VoIP and SIP trunking services, offering a robust set of features and a commitment to simplified deployment and assured uptime will aid long-term market development in the region.
"Service providers need to provide a wide range of value-added services to attract customers while holding the line on pricing," suggested Brandenburg. "Many customers are trying to decide whether to keep their communications platforms on-premises or move to the hosted model, and hence, service providers should leverage VoIP capabilities to deliver customer value, rather than continually battle on price."