For over a decade now, the wholesale carrier business model has focused on offering a set of generalized services and products to connect customers with each other. However, this business model will no longer suffice with the drastic growth in next-gen network services. The rise of over-the-top (OTT) services such as WhatsApp, Skype, Facebook Messenger and the likes, as well as cloud and digital services, and expansion of Long Term Evolution (LTE) networks have generated a significant disruption in the conventional business providing wholesale VoIP carrier services. Based on a recent industry report, the global OTT market size is projected to reach $332.52 billion by 2025, growing at a CAGR of 16.7% from 2018 to 2025.
Furthermore, global wholesale carriers are finding several ways to grow revenue margins, and traffic as growth drivers in the telecom industry. To succeed in the market, wholesale VoIP providers need to take an intelligent approach, build new business models and service portfolio, and emphasize on differentiating their offerings to attract and retain customers in this digital era.
Let’s take a look at the key trends and key initiatives that are evolving in the carriers industry that wholesale VoIP providers should focus on –
Diversification is the need of the hour for an industry that is declining for the past few years now. Despite the drop, many wholesale carriers are expanding their services portfolio from Voice only to SMS, IoT Services, and the Unified Communication platform space. Thus, all voice carriers are expanding their portfolio and offering innovative digital services for better customer engagement.