3 min
According to an IHS Markit report, the SIP Trunk market is growing in all regions of the world, although North America stands out with 59% of the market. Thus, the SIP Trunk market is dominant in North America for voice connectivity services and in other geographical regions it enjoys a continuous expansion that helps boost its growth.
SIP Trunking’s global revenues are on track to achieve double-digit year-on-year growth through 2020, according to data in this report.
There’s no denying that the world is moving to IP, and SIP Trunk has become the preferred de facto communications solution for business connections. Topping the list of reasons why companies are implementing SIP Trunk are improving reliability, centralized applications and flexibility and cost savings.
Although there is a large number of SIP Trunk providers in North America and a growing expansion throughout the world, only a few have reached a scale with more than 1 million SIP Trunk in service. And only a small number of suppliers have more than 3 million SIP Trunk in service. Most vendors that have sold legacy voice connectivity services have made the switch to the SIP Trunk connection, but the installed base of legacy time division multiplexing (TDM) connections still prevails.
Looking ahead, according to IHS Markit, continued strong global growth is forecast for the SIP Trunk market until 2021, when revenues are expected to reach 9 billion dollars and SIP Trunk is expected to reach 53 million.
How can you save with the SIP Trunking?
SIP Trunking can offer both financial and functional advantages over the traditional connections of companies. This is because SIP trunks are virtual connections that support multimedia communications (voice, video and web) over the Internet outside of traditional telephone networks, which gives organizations more capabilities at a lower cost.
In fact, if a company needs to scale its telephone system, add features and / or support long distance calls, it is likely that it will obtain significant cost savings with the implementation of the SIP Trunk.
9 Ways In Which Companies Can Reduce Their Spending On Communications With SIP Trunking
1.- Lower price: SIP Trunk is cheaper than traditional connections.
2.- Does not incur capital costs: SIP Trunking does not require capital investment and has a minimum initial cost, so the cost savings in the first monthly billing statement are appreciated.
3.- Reduce connection costs: The SIP Trunking eliminates the need for traditional lines, thus saving up to 70% on a company’s monthly telephone bill.
4.- Pay-per-call routes: The SIP Trunking allows organizations to implement and pay only the concurrent call routes they need.
5.- Lower long distance rates: National and international long distance calls are much cheaper than regular calls through SIP Trunk.
6.- Free internal calls: Internal calls between employees of different offices are free with the SIP Trunking.
7.- Conserve the current investment: The SIP Trunking also modernizes the existing telephone system by connecting it to a virtual PBX in the cloud that offers real-time communications services, such as call recording. With these instant feature updates, SIP Trunking allows you to conserve the capital investment in the phone system for months or years.
8.- Reduce the migration time to the cloud: You can gradually migrate to a virtual PBX solution in the cloud for the entire company. With SIP Trunking, for example, a company can make the transition to a virtual PBX in the cloud by location or department, according to their needs and/or budgets.
9.- Reduce overall costs: When adding SIP Trunk resources in the locations of a company, general costs can be reduced.
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