IP Multimedia Subsystem Market Growing Demand, Top Trends, Key Drivers, Companies And Forecast To 2033

The ip multimedia subsystem market size has grown rapidly in recent years. It will grow from $3.31 billion in 2023 to $3.77 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to rise in ott services, industry collaboration and standards, volte implementation, telecom industry convergence, rapid growth in mobile data traffic.

The ip multimedia subsystem market size is expected to see rapid growth in the next few years. It will grow to $6.52 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to increasing demand for rich communication services (rcs), internet of things (iot) expansion, cloud-based ims solutions, virtualization and nfv integration, demand for enhanced multimedia services, government initiatives and policies. Major trends in the forecast period include market competition and innovation, enterprise adoption for unified communications, mobile network operators' strategy, service providers' focus on customer experience.

Market Overview -
The IP multimedia subsystem refers to a framework for delivering multimedia communications services over IP networks. The All-IP network serves as the foundation for the IP multimedia subsystem, and its primary purpose is to map and implement all communication services during switching and transfer.

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Increase In Usage Of Multimedia Applications
The increase in usage of multimedia applications is expected to propel the growth of the IP multimedia subsystems market going forward. Multimedia is a comprehensive tool for communicating ideas and thoughts to others in a more effective manner. Multimedia is used in a wide range of applications associated with engaging, highly visual, and three-dimensional environments due to its performance. The IP multimedia subsystem helps enable proper communication services in various multimedia applications. For instance, in April 2021, according to an article by Asset Digital Communication, a Canada-based digital marketing agency, approximately 71% of small-to-medium-sized businesses were using social media (multimedia) for marketing their businesses to attract customers. Therefore, the increasing usage of multimedia applications is driving the growth of the IP multimedia subsystems market.

Competitive Landscape -
Major companies operating in the ip multimedia subsystem market report are Huawei Technologies Co. Ltd., Cisco System Inc., Telefonaktiebolaget LM Ericsson, NEC Corporation, Nokia Corporation, Samsung Electronics Co. Ltd., ZTE Corporation, CommVerge Solutions Limited, International Business Machines Corporation, Ribbon Communications Inc., Oracle Corporation, Alcatel-Lucent S.A., BroadSoft Inc., Dialogic Corporation, Genband Inc., Italtel SpA, Mavenir Systems Inc., Metaswitch Networks Ltd., Radisys Corporation, Sonus Networks Inc., Technicolor SA, Telefónica SA, Telenity Inc., Tekelec Inc., Acme Packet Inc., Amdocs Inc., Avaya Inc., Comverse Inc., HP Inc., Juniper Networks Inc.

Gl Communications Inc. Introduces Innovative Maps Lcs Test Suite, Driving Technological Advancements In Ip Multimedia Subsystem Market
Technological advancement is the key trend that is gaining popularity in the IP multimedia subsystem market. Major companies are focused on research and development for product innovations to strengthen their position in the market. For instance, in January 2022, GL Communications Inc., a South Korea-based multinational company operating in telecommunication equipment and services, introduced its advanced conformance test tool that supports the simulation of a wide range of telecommunication protocols and works on the unique feature of Session Initiation Protocol (SIP), known as the MAPS LCS Test Suite. Session initiation protocol (SIP) refers to an advanced signalling protocol that uses real-time communication sessions between internet protocol devices and enables voice, messaging, video, and other communication channels between endpoints on IP networks. The MAPS LCS Test Suite offers a full-fledged network environment that provides clients with the ability to test their applications, devices, and services within the IP multimedia subsystem (IMS) infrastructure using ready-to-use testbed setups.

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Key Segments -
The ip multimedia subsystem market covered in this report is segmented -
1) By Component: Product, Services
2) By Operators: Mobile operators, Fixed operators
3) By Application: Internet and Web Service, VoIP, SMS, Video Conferencing, Video on Demand, Other Application
4) By End User: Consumer, Enterprise

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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