The global wholesale voice carrier market is expected to grow from US$ 23,139.03 million in 2021 to US$ 31,754.36 million by 2028; it is estimated to grow at a CAGR of 4.6% during 2021-2028.

A few years ago, the pricing structure of wholesale voice carrier had fixed charging rate per call and 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.

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.

The wholesale voice carrier market is segmented on the basis of service, transmission network, technology, and geography. Based on service, the market is segmented into voice termination, interconnect billing, and fraud management. The voice termination segment represented the largest market share in 2020. In terms of transmission network, the wholesale voice carrier market is bifurcated into owned network and leased network. In 2020, the leased network segment accounted for a larger market share. Based on technology, the market is bifurcated into VoIP and traditional switching. In 2020, the VoIP segment accounted for a larger share in the market. Geographically, the wholesale voice carrier market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for the significant share in the global market.

In 2020, the impact of COVID-19 pandemic differed from country to country across Europe as selected countries recorded an increase in the number of COVID-19 confirmed cases and subsequently imposed strict and long lockdown and social isolation measures. However, many western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the robust healthcare system. To protect citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus. Furthermore, in 2021, the offices are operating fluently with the uplifting of lockdown and ongoing vaccination process.

At the starting of 2020, the economic activity in many sectors has ground to a near standstill; many businesses are struggling to uphold their financial obligations. With the uncertainty, many companies are considering adjustments in their workforce. This could put million s of jobs at risk through reductions in hours or pay, temporary furloughs, or permanent layoffs. For instance, according to McKinsey & Company data of April 2020, the COVID-19 crisis could leave up to 59 million jobs at risk in Europe, a staggering 26% of total employment in the 27 member countries of the European Union plus the UK. The adoption of high-speed internet in home and businesses increased opportunity for VoIP services. For instance, according to the Telef?nica S.A., in Spain, IP networks witnessed mobile voice traffic increase by 50%.

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 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 market based on all the segmentation provided with respect to five major regions-North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The 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.

A few major players operating in the global wholesale voice carrier market are AT&T Inc., BICS SA/NA, BT Group, DEUTSCHE TELEKOM AG, IDT Corporation, Tata Communication, TELEF?NICA S.A., Lumen Technologies, VERIZON COMMUNICATIONS, INC., and ORANGE S.A.