SIP trunking services market is expected to reach $8 billion by 2018, said Infonetics Research.
“The world is moving to IP, and SIP has become the de facto solution of choice for businesses for IP connections. In North America, slightly more than 20 percent of the installed business trunks are SIP trunking today, with significant upside opportunity,” said Diane Myers, principal analyst for VoIP, UC, and IMS at Infonetics Research.
The global SIP trunking services market is expected to grow 35 percent to $4.4 billion in 2014.
The biggest market for SIP trunking services is North America, although new geographic markets continue to open up, helping fuel growth.
More and more businesses are making the switch to SIP trunking, but they are not cutting 100 percent of connections to SIP on day one; rather, SIP is typically being deployed at one or two sites to start.
Infonetics expects continued strong worldwide growth for SIP trunking over the next 5 years, forecasting the market to reach $8 billion in 2018.
SIP trunking is being pitched alongside hosted PBX and unified communications (UC) services as more businesses seek hybrid solutions.
