Report : Wholesale Voice Carrier Market Forecast to 2027 - 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)
APAC to Dominate Global Wholesale Voice Carrier Market
According to our latest market study on “Wholesale Voice Carrier Market Forecast to 2027 – 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),” the market was valued at US$ 23.17 billion in 2019 and is projected to reach US$ 53.74 billion by 2027; it is expected to grow at a CAGR of 11.2% from 2020 to 2027.The report highlights the key factors driving the market growth and prominent players with their developments in the market.
The wholesale voice carrier market in APAC has been analyzed based on historical, current, and future trends in the countries across the region. The Asian landscape for wholesale voice carrier appears to be encouraging. In the region, efforts taken by private companies and government agencies for the growth of the wireless communications infrastructure are surging the demand for VoIP services due to their cost efficiency. VoIP is continuously supporting voice & video communications over the internet; thus, companies are broadly using such solutions for high business performance. There is an immense growth in the global mobile market; hence, the region would witness the launch of more mobile virtual network operators offering voice and data offerings.
The telecommunication companies are identifying the potential of wholesale voice carrier swiftly and thus, are involved in making profitable & strategic partnerships. Besides, growing competition from major players, such as Facebook and WhatsApp, are pressurizing telcos to adopt wholesale voice carrier service. The companies operating in the market adopt various marketing strategies, such as new product developments, partnerships, and acquisitions, to optimize their existing offerings and expand their portfolio to target a more significant number of customers. For instance, in May 2018, Bharti Airtel, an Indian multinational telecommunications services company, introduced its carrier digital platform that allowed the global carriers to do wholesale voice business with the company. The platform includes swift voice interconnects, paperless sign-up, and real-time traffic analytics for carriers across the globe. Thus, all the above factors are leading towards the growth of the market in APAC.
Surge in Demand from Emerging Countries to Provide Numerous Business Opportunities for Market Players
Technology plays a vital role in the economic growth of nations owing to which emerging countries, such China and India, are shifting toward digitalization. North America and Europe strongly adopt digital services, advanced network, and supporting infrastructure. Asia Pacific, Middle East & Africa, and South America are growing at a faster rate owing to the development in telecommunication networks and adoption of smartphones. According to the Cisco annual internet report, there would be ~3.1 billion Internet users by 2023 in Asia Pacific. Further, according to Ericsson, there were nearly 4 billion mobile connections in Asia Pacific in 2016 and they are expected to reach 4.6 billion by 2021. Such stats regarding the adoption of smartphones, as well as internet penetration, are acting as major supporting factors for the market growth.
The report segments the global wholesale voice carrier market as follows:By Service