Wholesale Voice Carrier Market Size ($31,754.36Mn by 2028) Lead by VoIP Call Services (4.6% CAGR) Impact of Coronavirus Outbreak and Global Analysis & Forecast by TheInsightPartners.com
The wholesale voice carrier market to reach $31,754.36 million by 2028 from $23,139.03 million in 2021 to grow at a CAGR of 4.6% during 2021–2028; while the global market led by voice termination segment with 66.2% market share in 2020.
New York, Nov. 18, 2021 (GLOBE NEWSWIRE) -- According to our latest market study on Wholesale Voice Carrier Market Size, Share, Revenue, Forecast to 2028 - COVID-19 Impact and Global Analysis By Service (Voice Termination, Interconnect Billing, and Fraud Management), Transmission Network (Owned Network and Leased Network), and Technology (VoIP and Traditional Switching).
Report Coverage | Details |
Market Size Value in | US$ 23,139.03 million in 2021 |
Market Size Value by | US$ 31,754.36 million by 2028 |
Growth Rate | CAGR of 4.6% during 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
No. of Pages | 165 |
No. Tables | 83 |
No. of Charts & Figures | 81 |
Historical Data Available | Yes |
Segments Covered | Service, Transmission Network, and Technology |
Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country Scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Wholesale Voice Carrier Market: Competitive Landscape and Key Developments
AT&T Inc., BICS SA/NA, BT Group, DEUTSCHE TELEKOM AG, IDT Corporation, Tata Communication, TELEFÓNICA S.A., Lumen Technologies, VERIZON COMMUNICATIONS, INC., and ORANGE S.A. are among the key players in the global wholesale voice carrier market. The leading companies are focusing on various market initiatives, thereby tapping prevailing business opportunities.
In February 2020, BICS SA/NA joined the SMART Africa Alliance to support the alliance’s One Africa Network project. The One Africa Network project aims to reduce roaming charges in member states.
In June 2020, Deutsche Telekom AG collaborated with Orange International Carriers on POC (proofs of concept) to enhance IPX services.
Market players are restructuring the service models to offer more customers-oriented services for better reach in the market. Traditional call switching methods are declining, while services such as VoIP and VoIPX based on Internet are gaining popularity in the global market. The low call charges or free voice calling services are the prominent factors for the growth of Internet-based services. Market players are targeting the small- and medium-sized enterprises as the retail market is shifting toward international service offerings. The inclination toward international market is due to the availability of supporting communication models. For instance, in October 2020, Viasat Inc. introduced new satellite-based internet phone service for the small and medium businesses. It offers high-quality and high-speed satellite network to support Viasat Business Voice models. Further, Voxox, a provider of cloud-based communication system, launched VoxDirect "Free Forever" plan for small and medium sized customer. It offers mass texting and voice service capabilities for SMEs.
Impact of COVID-19 Pandemic on Wholesale Voice Carrier Market:
The COVID-19 pandemic has been affecting most of the businesses across the world. The continuous growth in the number of COVID-19 confirmed cases compelled governments to put restrictions on the humans and goods transportation and impose mass lockdowns and business shutdowns.
The lockdown imposition has resulted in the lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.
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The telecommunication industry witnessed decrease in demand because business communication services decreased and the revenue model for voice declined as no operation was carried in the lockdown period. On other hand, after easing lockdown restrictions, the industry has emerged with new growth model as businesses shifted to remote working and work from home models. The importance of the telecommunication industry has been highlighted for voice, data, and text application..
Growing Adoption of Smartphones and VoIP Devices to Propel Wholesale Voice Carrier Market Growth in Coming Years:
VoIP call can be easily carried out through smartphones by two methods—by apps such as Skype and through the use of Session Internet Protocol (SIP). Supporting telecom infrastructure and enhancing knowledge of customers toward digitalization are factors driving the adoption rate of smartphones. Internet services are increasing in every nation as these are becoming essential requirement for communication. Smartphone is becoming a necessity for developed nations, while in developing nations it is growing at an unprecedented rate. Increasing per capita income in developing countries is driving the VoIP adoption through smartphone devices. A device with strong internet connection and supporting software platform can make international and domestic calls through VoIP. Innovation in calling apps with high quality voice apps is enlightening the VoIP service quality. The VoIP supporting apps such as Skype, Google, Viber, and Vonage are playing major role in the growth overall wholesale voice carrier market.
Rising mobile internet users and devices/connections per capita are supporting factors for the market growth. For instance, according to the Cisco Annual Internet Report, a 51% of the world’s population used Internet in 2018 and is likely to reach 66% by 2023. Further, there were about 2.4 billion devices/connections per capita in 2018 and is expected to reach 3.6 billion connections per capita by 2023. Rising adoption of smartphones and internet connecting devices is a major supporting factor for VoIP call services, which, in turn, augments the market growth.
Wholesale Voice Carrier market: Service Segment Overview
Based on services, the wholesale voice carrier market is segmented into voice termination, interconnect billing, and fraud management. In 2020, the voice termination segment accounted for the largest market share.
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Key Questions to Request for Wholesale Voice Carrier Market:
What are key driving factors behind wholesale voice carrier market growth?
What are key market opportunities for wholesale voice carrier market?
Which service is expected to dominate the market in the forecast period?
Which region has dominated the wholesale voice carrier market in 2020?
Which are the major companies operating in the wholesale voice carrier market?
Which technology is expected to dominate the market in the forecast period?
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