According to a new ResearchAndMarkets.com’s report, the global wholesale voice carrier market was valued at $23.17 billion in 2019 and is projected to reach $53.74 billion by 2027, growing at a compound annual growth rate of 11.2% from 2020 to 2027.
The “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)” report is now a ResearchAndMarkets.com’s offering.
The wholesale voice carrier market in Asia-Pacific (APAC) has been analyzed based on historical, current, and future trends, and the 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 continues to support voice and video communications over the internet and APAC companies are using the solutions for high business performance. Immense growth is being seen in the global mobile market; hence, the region could witness the launch of more mobile virtual network operators offering voice and data offerings.
Telecommunication companies are identifying the potential of wholesale voice carriers and are involved in making profitable and strategic partnerships. Besides growing is pressurizing telcos to adopt wholesale voice carrier service.
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.
The report looks at what role technology plays, and it is vital to the economic growth of nations owing to which emerging countries, such as China and India, are shifting toward digitalization. North America and Europe strongly adopt digital services, advanced networks and supporting infrastructure. Africa, Asia Pacific, Middle East and South America are growing at a faster rate owing to the development of telecommunication networks and the adoption of smartphones.
The key findings and recommendations of the report highlight progressive industry trends in the global wholesale voice carrier market, thereby allowing players across the value chain to develop effective long-term strategies.
