Technological advancements have reached a landmark; depicted by the overwhelming use of VoIP services globally. The internet is also becoming integral—a point widely advanced during the peak of Covid-19. The push to have people work at home has worked for SIP Trunk Providers, who have witnessed a jump in the demand for their services all over the world.
The SIP Trunking market is dynamic, according to some market research reports that help leaders in industries make business decisions. The technology is multidimensional, as it has changed the way companies handle their email, ordinary calls, text messaging, and communication via video.
While the demand for SIP trunking services remains high, some constraints and other inhibitors have limited the growth of the space immensely. However, the next decade will witness a jump in the use of SIP technology.
What Makes SIP Trunking Attractive?
As with every technology that is widely adopted anywhere, the price for deployment of a service often sits on top of other priorities. The beauty of SIP trunking is that it is easy to adopt for any business, and costs a fraction of other technologies. In the networking space, a ton of other services exist, which underpin the efforts by different quarters to dominate the field of video and voice communication.
It costs about $0.0085 to be in a call with another party per minute using the SIP technology. Traditionally, leading carriers in the voice and video business charge about $65 per month to access similar services. On the other hand, a typical SIP network will take about a third of what traditional networks charge.
Do SIP Services Work in an Enterprise?
From the cost perspective, SIP services are highly attractive for most businesses. While traditional networking services provided by giants boast of the best voice and video services, SIP services offer similar quality at a smaller price. For a typical business going for modern SIP services, it saves about a third of their total communication on voice services. The massive savings are a huge contributor to the growth of SIP technology.
How Different Regions Fare In Their SIP Coverage
On top of the list is Western Europe, which has about 80 percent coverage of SIP technology. North America is the least-covered region of the major areas that make use of voice and video services. The territory has about 70 percent coverage, a few points below the Asia-Pacific region.
Beyond the comparisons continental-wise, SIP services account for about 60 percent of voice and video services globally. The small percentage totals over $10 billion in monetary terms. However, the figures will go even higher in the next decade as the America and Asia-Pacific region continue to increase their consumption rate of the service.
What Factors Fuel The Growth Of SIP Services?
Massive investments toward SIP services and the tremendous demand for technology are the fuel behind the impressive rise of SIP in recent years. Today, SIP services are worth a significant amount. SIP started in the 1990s, but has gained traction recently because of the wide adoption of the technology. It will hit a milestone soon.
The people behind SIP services, from the creators to the users, are another major factor that has made the technology highly regarded. Efficiency in transmission is one area that has made SIP services cheap to deploy compared to their traditional predecessors.
In addition, the quality of IP-based voice and video services has helped fuel the demand in the last decade. Most people using the SIP have claimed high rates of satisfaction that have pushed for the deployment of more of it all over the world.
SIP is the Future
A decade is a long time to predict the nature of telecom services. However, creating new technology and deploying it massively requires a lot of planning and execution that might go beyond a decade. In that regard, SIP services might hit a milestone because they work. They will usher the world into an era of better connectivity.