As per a recent industry report put forward by Global Market Insights, Inc. International Wholesale Voice Carrier Market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 120 billion by 2032 with a projected CAGR of 15% over 2023-2032.
The market growth is owing to the surging preference for VoIP devices and smartphones.
Global smartphone adoption is increasing, opening up new options for wholesale voice providers to handle the huge VoIP demand these smart devices are driving. The market for smartphones has seen humongous expansion with the adoption rate touching new heights, more VoIP traffic is being produced through data-intensive voice calling apps and mobile internet use.
For instance, in October 2021, Nokia debuted its first fixed wireless connectivity broadband gateway. This gateway was created to work with the local 5G specification for Japan. The Nokia 5G gateway 3.2 will fulfill the requirements of the regional 5G band, which will support the regional 5G government program for digital transformation.
Based on service, the international wholesale voice carrier market from interconnect billing segment registered more than $5 billion revenue in 2022. The need for interconnect billing services among telecom operators and the industry’s rapid development is expected to propel segmental growth through the review timeline.
With respect to transmission, the owned segment is set to witness exceptional growth by the end of 2032 due to the rising telecom operator investments in infrastructure expansion and rising demand for fiber optics. Major telecom operators around the world are concentrating on growing their telecom infrastructures and making significant investments to scale up their network backbone.
In terms of technology, the international wholesale voice carrier market from traditional switching segment is poised to expand steadily through the forecast period credited to the surging deployment of international business calling services as well as the rising consumer spending are proliferating segmental growth. A telecommunications network is implemented using the traditional switching or circuit switching technique, which requires that two network nodes first create a dedicated communications channel (circuit) within the network in order to connect.
From the regional perspective, the Europe international wholesale voice carrier industry was valued at over $7 billion in 2022. The expansion of 5G network services and regulatory measures to examine mobile termination rates are expected to drive the region’s wholesale voice carrier market trends over the research timeline.
Meanwhile, the Latin America international wholesale voice carrier market is estimated to amass more than $6 billion in revenue by 2032. Growing regional wireless infrastructure and the introduction of voice services are both factors in Latin America’s market expansion. Since most of the countries are developing ones, there has been a significant increase in the use of new technologies, which is likely to foster regional growth over the analysis timeframe.