Market size

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3. Market Size & Growth

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Layer 1: Telephony/SIP Infrastructure

Global Market Size:¹

• 2025: $80.8 billion
• 2024: $70.4 billion
• Growth: +14.8% YoY
• 2029 Projection: $139 billion (11.5% CAGR)

Growth Drivers:²

• BYOC (Bring Your Own Carrier) adoption
• PRI-to-IP migration as legacy systems phase out
• UCaaS integration (Microsoft Teams, Zoom Phone)
• 5G network slicing for voice QoS

Revenue Distribution: Enterprise SIP trunks (62%), SMB VoIP (23%), Wholesale termination (15%) India Market:³

• Market Size: $4.8B (2025), up from$4.33B (2024) — +10.9% YoY
• Key Players: Airtel IQ, Tata Communications, Route Mobile, Exotel
• Growth Catalysts: TRAI IP interconnect mandates, BPO modernization, Jio-era low data costs, DLT compliance

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Layer 2: Cloud Voice Infrastructure (WebRTC/CPaaS)

Global Market Size:⁴

• 2025: $9.56 billion
• 2024: $7.03 billion
• Growth: +35.9% YoY
• 2029 Projection: $31.2 billion (34% CAGR)

Market Breakdown:

• WebRTC media servers: $4.2B
• CPaaS voice APIs: $3.1B
• Video infrastructure: $1.5B
• Messaging APIs: $0.76B

Why High Growth?⁵ AI agents require <200ms audio latency—legacy CPaaS platforms built for human agents (3-5 second response tolerance) cannot support sub-second AI interaction patterns. New AI-native platforms (LiveKit Agents, Daily Bots) are displacing traditional providers. India Market:⁶

• Market Size: $1.01B (2025), up from$0.71B (2024) — +42.9% YoY
• 2029 Projection: $4.8 billion
• Growth Catalysts: UPI/fintech voice verification, on-demand logistics (food/transport), vernacular government services, carrier-bundled CPaaS offerings

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Layer 3: Voice AI Agent Software

Global Market Size:⁷

• 2025: $7.92 billion
• 2024: $5.43 billion
• Growth: +45.9% YoY
• 2030 Projection: $47 billion

Revenue Mix: Autonomous agents (58%), Agent copilots/assist (27%), Quality monitoring (15%) Growth Drivers:⁸

• Latency breakthrough: GPT-4o and Gemini achieving sub-1 second response times
• Voice cloning: ElevenLabs, WellSaid enabling brand-consistent tone
• Tool-calling: Agents can check inventory, update CRM, process payments during calls
• Cost advantage: $0.15-0.40/min for AI vs.$5-8/min for human agents

India Market:⁹

• Market Size: $420M (2025), up from$276M (2024) — +53.5% YoY
• Key Players: Uniphore, Skit.ai, Yellow.ai, Gupshup
• Growth Multipliers:
  • BFSI vernacular mandates (RBI regional language requirements)
  • Leapfrog adoption (voice-first, skipping chatbot phase)
  • Improved accuracy (<7% WER on Indic languages, down from 15-20% in 2022)
  • Extreme cost advantage ($0.05-0.08 AI vs.$1.50-2.50 human agents in India)

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Combined Three-Layer Market

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Voice Call Minutes & Automation Rates

Global Contact Center Minutes (2025):¹⁰ 1.65 trillion total (270B calls × 6.1 min avg. handle time) India Contact Center Minutes (2025):¹¹ 155B total Key Insight: India’s 30-50% automation rates (vs. 6% global) reflect economic necessity—AI is now cheaper than offshore human labor as wage arbitrage erodes.¹²

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Automation Trajectory (2022-2030)

Why automation plateaus:¹⁵ Complex interactions requiring empathy, judgment, or regulatory compliance (financial advice, medical triage, crisis support) will remain human-led through 2030. The “first 30%” of routine intents deliver 80% of cost savings—marginal gains flatten beyond that threshold.

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References

Footnotes

1. Grand View Research. (2024). SIP Trunking Services Market Size, Share & Trends Analysis Report (Report ID: GVR-2-68038-XXX-X). San Francisco, CA; MarketsandMarkets. (2024). VoIP Services Market - Global Forecast to 2029 (TC 8745). ↩
2. Gartner. (2024). Forecast: Customer Service and Support Technology, Worldwide, 2023-2028, 2Q24 Update (ID G00805234); IDC. (2024). Worldwide Contact Center Services Forecast, 2024-2028. ↩
3. TRAI. (2024). Indian Telecom Services Performance Indicators; NASSCOM. (2024). Strategic Review 2024: The IT-BPM Sector in India. ↩
4. Research and Markets. (2024). Communications Platform as a Service (CPaaS) Market - Global Outlook & Forecast 2024-2029 (Report Code: 5932441). Dublin, Ireland; Precedence Research. (2025). WebRTC Market Size, Share, and Trends 2025 to 2034 (Report ID: 33847). ↩
5. LiveKit. (2024). Voice AI System Architecture: Reference Implementation Guide. LiveKit Docs; Daily.co. (2024). Real-Time AI Agent Infrastructure Requirements. Engineering Blog. ↩
6. NASSCOM. (2024). AI Adoption in Indian Enterprises 2024; McKinsey & Company. (2024). Digital India: Technology to Transform a Connected Nation. ↩
7. MarketsandMarkets. (2024). Conversational AI Market by Component, Type, Deployment Mode - Global Forecast to 2029 (TC 7874); Gartner, Inc. (2024). Magic Quadrant for Enterprise Conversational AI Platforms (ID G00793156). ↩
8. OpenAI. (2024). GPT-4o Technical Report; Google DeepMind. (2024). Gemini 1.5: Performance and Capabilities; ElevenLabs. (2024). Voice Cloning for Enterprise Applications. ↩
9. NASSCOM. (2024). Strategic Review 2024; RedSeer Consulting. (2024). India’s AI-Powered Contact Center Opportunity. ↩
10. Metrigy LLC. (2024). ContactCenter-as-a-Service 2024: Global Market Study & Provider Analysis. Industry Report; IDC. (2024). Worldwide Contact Center Services Forecast, 2024-2028. ↩
11. NASSCOM. (2024). BPO Industry in India: 2024 Market Analysis; TeamLease Services. (2024). India Contact Center Employment Report: Wage Trends 2024. ↩
12. McKinsey Global Institute. (2024). The Economic Potential of Generative AI in Contact Centers. Research Report; Replicant, Inc. (2024). State of Customer Service Automation 2024. ↩
13. Gartner. (2024). Forecast: Customer Service and Support Technology, Worldwide, 2023-2028, 2Q24 Update (ID G00805234); Forrester Research. (2024). The Future of AI in Customer Service. ↩
14. NASSCOM. (2024). AI Adoption in Indian Enterprises 2024; RedSeer Consulting. (2024). India’s AI-Powered Contact Center Opportunity. ↩
15. MIT Technology Review. (2024). The Limits of AI in Customer Service; Harvard Business Review. (2024). Human-AI Collaboration in the Contact Center of the Future. ↩