(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 13, 2021, 05:45 /Comserve / -- Voice Over LTE (VoLTE) Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The Voice Over LTE (VoLTE) market was valued at USD 3.7 billion in 2019 and is expected to reach USD 133.57 billion by 2025, at a CAGR of 56.57% over the forecast period 2020 - 2025. Voice over LTE (VoLTE) enables wireless operators to deliver a new set of standards-based services, referred to as Rich Communications Services. These services include video calling, file transferring, real-time language translation, video voicemail, and instant messaging. The increase in the use of high-speed internet is expected to drive the VoLTE market in the forecast period.
- Although Voice over IP or VoIP created the market for sending voice over the internet, Voice over LTE is expanding, and carriers/telecom network providers are undergoing digital transformation to enable a better experience for users of the technology.
- The increasing demand for improved voice and video quality and high-speed internet is driving the adoption of VoLTE services. The growing demand for high-speed data increases competition among the operators for the best mobile broadband offering, with the highest speeds and the best coverage.
- The benefit of VoLTE is that the quality of the call is better than 2G and 3G connections because of the high data transfer rate over the medium/channel. The voice calls are in HD quality and offer a much richer experience along with fast, reliable, and richer services altogether to switch to VoLTE. Such development is impossible without test and monitoring solutions that have supported the development of core network elements and the networks throughout the entire lifecycle.
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Key Market Trends
Increasing Demand for High-Speed Internet is Driving the Voice Over LTE (VoLTE) Market
- Voice over LTE(VoLTE) enables wireless operators to deliver a new set of standards-based services, referred to as Rich Communications Services (RCS). These services include things like video calling, file transferring, real-time language translation, video voicemail, HD calling, and instant messaging. The consumers have started getting dependent on these services. The demand for high-speed internet has increased exabytes of data that have been transferred every day from various types of devices like smartphones, tablets, laptops, and others, which therefore augment the growth of VoLTE across major developing economies.
- Technology providers are increasing the applications of VoLTE technology to support ongoing IoT adoption. For instance, Ericsson is set to broaden the reach of voice over LTE with the addition of the technology to LTE-M deployments. Through this addition, IoT devices would be empowered to support voice as well as data.
- Increasing demand in emerging Asian regions such as India among other countries is driving the market forward. Reliance Jio, followed by Vodafone, has been successful in promoting that VoLTE would become a standard service that is activated in new handset sales going forward.
Asia-Pacific to Account for Significant Market Share
- Asia-pacific region will have 370 million new mobile subscribers till 2025, and according to Ericsson, it is estimated that in 2024, Asia-Pacific will continue to hold its dominance in the number of Voice over LTE subscriptions. In Asia-Pacific, the number of subscriptions is 3480.08 million, with a second spot to be taken up by Europe, with the number of subscriptions is 949.81 million.
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- Further, the mobile industry as a whole contributes an extensive amount to economic and social development, generating 5.3% of GDP in 2018, and is expected to surpass 1.9 trillion US dollars by 2023 as countries increasingly benefit from the improvements in productivity and efficiency brought about by the increased take-up of mobile services.
- Further, many developed markets, such as South Korea, Japan, and Australia, are keen to be global leaders in 5G, with much made about the potential of new innovative services and connected devices running on 5G networks. The rest of the region is more cautious. In many developing countries, 4G will still dominate out to the middle of the next decade, accounting for 70% of connections by 2025.
- Also, Asia-Pacific has the highest number of VoLTE operators and subscribers. The mobile network providers such as Vodafone, Airtel, Reliance Jio, Digi, U Mobile, Yes 4G, and Dialog have ventured into the VoLTE technology. They are investing in this technology to provide better service. These factors will drive the growth of this geographic segment in the coming years.
Competitive Landscape
The voice over LTE (VoLTE) market is fragmented in nature and consists of a significant number of global and regional players. These players are focusing on expanding their customer base across the globe. These vendors are focusing on the research and development investment in introducing new solutions, strategic alliances, and other organic & inorganic growth strategies to earn a competitive edge over the forecast period.
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Market Drivers
4.4.1 Increasing Demand for High-speed Internet & Quality Services
4.4.2 Upgradation of Government Sectors due to Rapid Pace Urbanization
4.5 Market Restraints
4.5.1 Lack of Awareness and Slow Adoption in Under Developed Countries
5 VOLTE LAUNCHES BY COUNTRY
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