(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Voice Over Long Term Evolution (VoLTE) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Voice Over Long Term Evolution (VoLTE) Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
VoLTE is the latest communication standard which provides high-speed wireless connectivity to mobile phones and data terminals. These arising technologies in the telecommunication sector providing ease to the population to communicate with high-speed connectivity features. VoLTE technology is around 20 times faster than the earlier communication technology. Moreover, it provides the platform for voice call delivery to consumers across the globe.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Growing urbanization is increasing the need for fast connectivity communication technology. Increasing processes of multi-national companies and their growing requirements for high-speed connectivity in today's digital world can be fulfilled by this advanced communication technology. Rising popularity of VoLTE services on account of growing trend for video conferencing is the major contributor for the VoLTE market.
Increasing number of IT enterprises digitization across the globe are the major factors which require advanced communication technology to run their business efficiently. Globalization leads to improve the technology and operations of industries on account of sharing technology and strategies. This sharing can be easily done by the emergence of VoLTE technology across the globe. The market of VoLTE is gaining popularity on the back of increased spectral efficiency which provides high-speed connectivity to the user and enhances the quality of voice calls and videos.
VoLTE technology optimizes the spectrum band by sending messages in small packets. The transfers of data in small packages reduce the maintenance as well as operational cost.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
Market size and forecast
The global VoLTE market is expected to reach around USD 37 Billion by 2024 by registering a CAGR of 27% over the forecast period i.e. 2017-2024. The market is majorly driven by the rapid pace of globalization and rising need for advanced communication services for various commercial and individual purposes.
Geographically, North-America has witnessed extensive adoption of these advanced services in the past few years and is expected to showcase a tremendous growth in near future. The market will be driven by the growing adoption of advanced communication technology in various corporate and government sectors. Presence of large number of tech savvy population in U.S. region is expected to propel the growth of VoLTE market during the forecast period i.e. 2017-2024.
Likewise, Asia-Pacific and Middle East & Africa region offers potential opportunities to the key players of VoLTE market. Rapid urbanization in the regions and increasing expenditure of modern infrastructure are the major driving factors for the market of VoLTE. Growing trend towards video calling and penetration of smartphone users on account of rising personal disposable income is expected to bolster the growth of VoLTE market.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Key Players
The key players of Voice over Long Term Evolution (VoLTE) Market as follows:
AT&T Inc.
Huawei Technologies Co. Ltd.
Ericsson
LG Uplus
Nokia Networks
SK Telecom
T-Mobile
Bharti Airtel
Scope and Context
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Market Segmentation
Our in-depth analysis segmented the global voice over long term evolution (VoLTE) market in the following segments:
By Technology Type
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)
Single Radio Voice Call Continuity (SRVCC)
By Evolution Type
Voice over mobile broadband (VoMBB)
Voice over high speed package access (VoHSPA)
Voice over Wi-Fi (VoWi-Fi)
By End-User
Corporate
Commercial
Government
Individual Consumers
By Region
Global Voice over Long Term Evolution (VoLTE) Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”
Business Questions answered by the report
- What might be the outcome of the BPS analysis for the Voice over Long Term Evolution (VoLTE) Market?
- At what compound annual growth rate is the market in the region growing?
- What are the probable growth drivers for the growth of the market?
- What exactly is the remuneration that each geography holds?
- Which region is anticipated to accumulate the maximum market share by the end of the forecast period?
- What are the revenues of the segments for the Voice over Long Term Evolution (VoLTE) Market?
- Who are the key players for the market?
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For any special requirements about this report, please let us know and we can provide custom reports.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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