“Voice over Long Term Evolution (VoLTE) Market: Global Demand Analysis & Opportunity Outlook 2024”
The global Voice over Long Term Evolution (VoLTE) market is segmented into technology such as Voice over IP Multimedia Subsystem (VoIMS), Circuit Switched Fall Back (CFSB), Dual Radio/Simultaneous Voice and LTE (SVLTE), Voice over LTE via Generic Access Network (VOLGA) and Single Radio Voice Call Continuity (SRVCC). Among these segments, Voice over IP Multimedia Subsystem (VoIMS) segment is expected to occupy the top position in the market. Voice over IP Multimedia Subsystem (VoIMS) segment is anticipated to grow on the back of emergence and adoption of 4G networks. Moreover, development of cloud infrastructure for IP multimedia subsystem is expected to garner the growth of Voice over IP Multimedia Subsystem (VoIMS) market.
Global Voice over Long Term Evolution (VoLTE) market is expected to grow at a CAGR of 27% over the forecast period. Moreover, the global Voice over Long Term Evolution (VoLTE) market is projected to reach USD 37 Billion by the end of 2024. Factors such as better call quality as compared to 2G or 3G networks are expected to expand the market of Voice over Long Term Evolution (VoLTE).
Individual consumers segment by end user is estimated to witness significant growth during the forecast period. Moreover, the individual consumers segment is expected to account for largest share of revenue across the globe. Increasing demand for better quality, rising trend of video calls and rising disposable income are some of the major factors impelling the growth of the individual consumer segment. Further, increasing sale and demand for 4G smartphones across the globe is expected to supplement the growth of the individual consumer segment.
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High Spectrum Efficiency
Factors such as high rate of transmission of information and allocation of higher bandwidth are some of the major factors driving the growth of the global Voice over Long Term Evolution (VoLTE) market. Further, Voice over Long Term Evolution (VoLTE) offers six times better spectral efficiency than 3G technology. Moreover, VoLTE provides better efficiency by enabling voice services and data capabilities on the same LTE network. These factors and advantages of VoLTE over other conventional communication technology are anticipated to intensify the growth of the Voice over Long Term Evolution market.
Better Audio and Video Call Quality
Efficient voice call services such as faster call set up time are increasing the adoption of VoLTE which is impelling the expansion of Voice over Long Term Evolution (VoLTE) market. Further, rich communication service offerings such as rich voice call and rich video call are expected to foster the growth of Voice over Long Term Evolution (VoLTE) during the forecast period. Although, high cost of Voice over Long Term Evolution (VoLTE) services and limited network coverage in developing and undeveloped nations are some of the factors that are likely to inhibit the growth of the Voice over Long Term Evolution (VoLTE) market in the near future.
The report titled “Voice over Long Term Evolution (VoLTE) Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global Voice over Long Term Evolution (VoLTE) market in terms of market segmentation by technology type, by evolution type, by end user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Voice over Long Term Evolution (VoLTE) market which includes company profiling of AT&T Inc., Huawei Technologies Co. Ltd., Ericsson, LG Uplus, Nokia Networks, SK Telecom, T-Mobile and Bharti Airtel,. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Voice over Long Term Evolution (VoLTE) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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