The impact of COVID-19 on the Wholesale Voice Carrier Market

The worldwide COVID-19 pandemic has hampered economic growth in most countries. Offices, public places, schools, transport, and other spaces remain closed, which has hindered the growth of the Wholesale Voice Carrier Marketers owing to low communications over voice. The telecom industry has seen a drop in demand as business communications services dwindle and the revenue model for voice declines as no activity is performed during the lockdown. On the other hand, after the easing of foreclosure restrictions, the industry emerged with a new growth model as businesses moved to telework and work from home.

The importance of telecommunications is emphasized for voice, data, and text applications. For example, international voice traffic increased by 20% in March 2020, compared to the same month of 2019. The main reason for the growth of voice calls is the remote working strategy adopted by the companies. The company applies because of the isolation and lockdown. The increase in international voice traffic creates an opportunity for the market. At the beginning of the second half of the year, the market started to reopen with some measures imposed by the respective governments. The restrictions have reduced business activity but opened up huge opportunities for the market as different strategies, such as teleworking and working from home, have been adopted by companies.

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The impact of COVID-19 on the Wholesale Voice Carrier Market