Businesses aiming to lower operational expenditure and obtain significant returns on investments (ROI) are being drawn to SIP trunking's attractively priced services, layered with value additions such as voicemail, mobility and collaboration tools. Disruptive pricing, packaging, feature/functionality and business models within the existing VoIP access and SIP trunking market, as well as the emerging Communications Platform as a Service (CPaaS) space, are accelerating adoption among enterprises and heating up competition among service providers.
In it latest report, Frost & Sullivan estimates that market revenue is expected to grow at a compound annual growth rate (CAGR) of 21.5 percent from 2015 to 2020, and a user base at a CAGR of 18.1 percent.
"There are significant opportunities for providers of IP-based voice access to build on current successes and branch out into the emerging CPaaS arena," said Frost & Sullivan Digital Transformation Industry Analyst Michael Brandenburg. "CPaaS offerings are emerging as an on-demand alternative to traditional communications services, prompting companies to build, buy or partner, to enable an application program interface (API)-level integration with voice services."