Softswitch market grew 42.4% in 2003

With major service providers around the world having already initiated, or announced plans to deliver local and/or long distance voice services, based on softswitch technology, to business and/or residential customers, the total softswitch market in 2003 grew by 42.4%. High-tech market research firm, In-Stat/MDR expects this market to maintain high growth rates over the next several years as major service providers worldwide expand their VoIP networks. As a result, the softswitch market is expected to experience a compound annual growth rate (CAGR) of 64.6%, between 2003 and 2008, resulting in revenues of $2.05 billion.