According to a recent study from market research firm Graphical Research, the North America wholesale voice carrier market size is set to register a significant growth during the forecast timeframe.
One reason cited is the rapid commercialization of 5G technology. This technology is being adopted at a high rate by several enterprises to leverage different wholesale voice services.
The investments made towards 5G network solutions are increasing because of the possibility it offers to service providers to diversify their portfolio and help them grow their market share. There are several mobile operators that are upping their investments in futuristic 5G networks to help them cater to the increasing demand for high-quality connectivity among consumers while increasing the range of their mobile data services for customers.
Growing need among service providers to opt for cost-effective wholesale voice carriers will boost the demand for voice termination services in North America. In fact, this segment held an overall share of more than 70 percent in regional wholesale voice carrier market during 2019. Voice termination services are gaining momentum over traditional voice and data solutions because of the increase in demand for high-quality voice calling among consumers.
Based on transmission, the market share from leased network services in North America will grow at a steady rate of more than 10 percent CAGR through 2026. There is a sudden spike in the percentage of service providers opting for leased network infrastructure. They prefer leasing a part of the overall infrastructure so they can set up their voice carrier facilities in emerging markets.
As the telecom industry is growing, the number of service providers opting for leasing the network infrastructure from Tier-1 operators has increased as well. This helps the Tier-2 and Tier-3 network providers lower the overall network ownership cost.
VoIP (Voice over Internet Protocol) services adoption will grow at a substantial rate, capturing more than 40 percent of wholesale voice carrier market share in North America in 2019 alone. A major reason for this is the several benefits of these services for customers across the region. They reduce the overall cost of long-distance domestic calls and the cost of international calls is lower as well. The quality of phone calls made with the help of VoIP is greater as compared to the ones made using Public Switched Telephone Network (PSTN).
For more information, visit: https://www.graphicalresearch.com/industry-insights/1864/north-america-wholesale-voice-carrier-market