The wholesale voice carrier market was valued at US$ 23.17 billion in 2019 and is projected to reach US$ 53.74 billion by 2027. The market is expected to grow at a CAGR of 11.2% during the forecast period of 2020 to 2027.
The global wholesale voice carrier market has been segmented into five major regions—North America, Europe, APAC, MEA, and SAM. In 2019, APAC led the global wholesale voice carrier market with 33.6% revenue share. The North America region has strong penetration of advanced telecommunication network offering fast internet speed with the presence of diverse network services of 5G, 4G, and VoLTE. On the other hand, Asian market is witnessing massive growth of wholesale voice carriers due to increased adoption of smartphones and internet service in developing nations of India and China, as there is a growing population of techno savvy youth in these countries. Therefore, the adoption of voice service, including VoIP and VoIPX, is rising. China is one of the major countries which has a significant market share in the wholesale voice carrier market due to increasing adoption of smartphones and internet. European countries such as UK, Italy, and France, are shifting toward digitalization and automation which is driving the market growth.
In North America, the US is the most developed country.As North America is an early adopter of technologies, the scope of newly developed voice services is high in the region.
Compared to other North American countries, the adoption of VoIP voice carrier services witnessed in the US is more.This factor encourages wholesale voice carrier service providers to provide advanced service offering and service packages.
The Middle East region is projected to grow at a notable rate over the forecast period owing to the strong presence of traditional call switching technology and supporting government policies for foreign direct investment (FDI).The region has a strong dominance of the oil & gas industry; however, due to coniferous decline in sector growth, the focus is shifted toward industrialization and digitization.
The region is looking at new technology and industrialization as an alternative support for economy which creates strong opportunity for the market.
The overall wholesale voice carrier market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the wholesale voice carrier market.
The process also serves the purpose of obtaining an overview and forecast for the wholesale voice carrier market with respect to all the segments.It also provides the overview and forecast for the global wholesale voice carrier market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, MEA and SAM.
Also, primary interviews were conducted with industry participants and commentators to validate data as well as to gain more analytical insights into the topic. Participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the wholesale voice carrier market.
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