Rising Development in Network Services to Provide Growth Opportunities for Wholesale Voice Carrier Market during 2021–2028
According to our new research study on " Wholesale Voice Carrier Market Forecast to 2028 - COVID-19 Impact and Global Analysis - By Service, Transmission Network, and Technology " the market is projected to reach is projected to reach from US$ 23,139.03 million in 2021 to US$ 31,754.36 million by 2028; it is estimated to grow at a CAGR of 4.6% during 2021–2028.
Internet services propel the growth of digitalization in global market. The adoption of digital technologies is rising the demand for high-speed network connectivity solutions. Network operators, service providers, and wholesalers are upgrading the systems to facilitate consumers with high-speed connectivity. Rising number of network connecting devices such as smartphones and laptops; increasing competition in telecommunications network industry; and emergence of 5G, VOLTE, and LTE services that offer high-speed network services to enhance user experience and connectivity support the growth of the VoIP market. For instance, in November, 2020, Smart communication in Filipins rolled out VoLTE, IP-based carrier-grade voice service for customers to provide uninterrupted mobile data and services. Similarly, Huawei company announced its initiative to build a future-oriented 4G Foundation for customers to maximize the network value.
Wholesale Voice Carrier Market — by Geography, 2020 and 2028 (%)
Wholesale Voice Carrier Market Size Report - Growth & Forecast 2028
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Wholesale Voice Carrier Market 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)
Wholesale Voice Carrier Market Size Report - Growth & Forecast 2028
Download Free SampleWholesale Voice Carrier Market 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)
5G in developed nations such as the US, the UK, South Korea and developing country such as China with rising adoption is boosting the internet services. IP-based services market is growing at a significant rate, which ultimately increasing the customer base for VoIP-based voices services network. According to the Cisco, 5G speed will offer 13 times higher speed than average mobile connection and will help the internet service market. The companies such as AT&T is already offering the 5G services in the US across 21 cities and will soon provide service for the whole nation. Such rising internet services through developments such as 5G, 4G, VoLTE, and LTE is offering lucrative opportunity for market players that offer IP-based voice services.
The voice termination services have been gaining popularity over the past a few years. Business having high requirement for international calling, such as call centers, SMEs, and other administrators, are compelling the growth of voice termination industry. In February 2020, My Country Mobile announced the new growth strategy for Indian market by building new technology for wholesale voice termination services. Also, TransWorld Holdings Inc. acquired PTGI International Carrier Services, Inc., a provider of wholesale telecommunications services. Thus, rise in telecommunication infrastructure in developing countries and expansion of companies in developed countries augment the growth of the wholesale voice carrier market.
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. Based on transmission network, the wholesale voice carrier market is bifurcated into owned network and leased network. In 2020, the leased network segment led the market, accounting for a larger market share. By technology, the market is bifurcated into VoIP and traditional switching. In 2020, the VoIP segment accounted for a larger market share. Geographically, the wholesale voice carrier market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for the significant share in the global market.
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.
In starting of 2020, after the imposition of nationwide lockdowns across the world, many industries were not working. North American market suffered huge loss in the first half of 2020 owing to the high number of COVID-19 patients, specifically in the US. Post lockdown the market witnessed increasing demand for the digital services. North America is among the eminent regions in the adoption of VoIP services owing to favorable infrastructure support for high speed internet services. Strong adoption of internet services across the region for the digital transformation of businesses supported the market growth. Pandemic situation halted the market growth for some period, but it raised at a stronger rate with innovative solution. For instance, according to the AT&T, wireless voice usage has nearly surged by 40% owing to the adoption of work from home culture. Employees started to use online voice services to conduct meeting, attend meeting, and connect with colleagues. Thus, the post-COVID impact on the market would be on positive growth.
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 major companies operating in the wholesale voice carrier market.
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