According to the latest research report titled “Wholesale Voice Carrier Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 53.74 billion by 2027, registering a CAGR of 11.2% during 2020–2027.
According to the survey conducted for over 1,000 small businesses by the Telzio, Inc., a VoIP service provider company, a VoIP service can help companies reduce telecommunication cost by almost 50%. In addition, the setup cost is negligible, while an on-premise phone system can cost nearly US$ 20,000. Therefore, benefits, such as lower overheads requirement, elimination of call waiting and voicemail expenses, and slashed relocation cost, are supporting the growth of the wholesale voice carrier market.
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Increasing Focus on Low-Price Solutions to Drive Market Growth
A few years ago, the pricing structure of wholesale voice carrier had fixed charging rate per call and it varied among providers. The new regulation increased competition among the new market players, and pricing structure witnessed positive change favoring the customers. Traditional telephone services are governed by the regulation that created complete or near monopoly on the market. Charges are decided by the firms based on their revenue and pursuit of dominance in local market, resulting VoIP to be 40–80% cheaper than traditional service as they are based on internet connectivity. In addition, traditional telephone calls are expected to travel greater distance and need open circuit while the call is processing; on the other hand, VoIP requires only the presence of strong internet connection.
Owned network for the wholesale voice transmission is an affordable solution for the market players having strong financial capabilities. Setting up new infrastructure requires strong capital investment; however, it assures the quality of service and enhances the brand in global market. Technological developments and need for assuring quality services to gain customers’ trust is driving the market growth. The owned network transmission service helps increase the market footprint with increased brand recognition and customer base. Market players are preferring the owned network transmission segment to maintain quality standards and offer next generation voice calling service for the customers. For instance, in March 2016, MNF acquired TNZI to expand their footprint in New Zealand in order to cater customers with next-generation wholesale provider services.
Key Findings of Study:
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