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Voice over Long-term Evolution (VoLTE) Smartwatch Market Size, Growth and Forecast 2018 - 2026: Samsung Group, Apple Inc., LG Electronics Inc., Huawei Technologies Co., Ltd.
Voice over Long-term Evolution (VoLTE) Smartwatch Market - Overview
VoLTE stands for voice over long-term evolution. It is a voice call over a 4G LTE network. It uses voice and data at the same time, and therefore, provides better network efficiency, which leads to better service. VoLTE offers several benefits that make it highly popular. It allows very efficient use of the available mobile network spectrum. It makes better use of spectrum resources compared to 2G and 3G networks. Additionally, since service operators transfer voice services to LTE, and the 2G and 3G networks no longer carry the majority of voice traffic, the spectrum can be rearranged for 4G and 5G network. This process is known as spectrum refarming.
VoLTE also offers superior call quality and significantly saves the battery life of the device. It offers high definition (HD) voice quality, which is far better than 2G and 3G voice services. Existence of voice over LTE has also led to the development of new services. Mobile operators can offer improved solutions combining VoLTE with enterprise solutions. VoLTE-based smartwatches, which were launched in the recent past, use this new technology. Until now, the functioning of smartwatches depended on smartphones. However, with the help of LTE, these watches have become efficient standalone devices.
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LTE in smartwatches allows users to connect to cellular networks and take calls, use various apps, and send and receive messages without needing the smartphone around. VoLTE- enabled smartwatches allow individuals to leave their smartphones at home and use the smartwatches for all types of basic functions. The watches are most appropriate when an individual does not want to take the bulky smartphone device everywhere, especially while playing sports and during exercise and running. These smartwatches comes with or without a dedicated sim card slot. The carrier operators charge a little extra per month for the bundle that includes voice-enabled cellular smartwatches.
Voice over Long-term Evolution (VoLTE) Smartwatch Market - Drivers and Restraints
The voice over long-term evolution (VoLTE) smartwatch market is driven by increase in demand for connected wearable devices around the world. Additionally, rise in awareness about and usage of VoLTE among device owners is boosting the voice over long-term evolution (VoLTE) smartwatch market. Rise in the use of smartwatches is expected to offer significant expansion opportunities to the voice over long-term evolution (VoLTE) smartwatch market in the near future. However, major challenges presented by VoLTE-enabled smartphone devices are time limits for cellular calls, low screen resolution, and high monthly fees charged by carriers. These challenges need to be dealth with properly by both cellular companies and telecom operators in order to drive demand for smartwatches.
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Voice over Long-term Evolution (VoLTE) Smartwatch Market - Segmentation
Based on region, the voice over long-term evolution (VoLTE) smartwatch market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. VoLTE-based smartwatches are still not available in all the regions. Companies are expected to launch these smartwatches in developing regions when demand for them arises.
Players operating in the voice over long-term evolution (VoLTE) smartwatch market are collaborating with telecom operators to provide their smartwatches in the market. Players are also launching new and improved versions of smartwatches in order to attract customers. Prices of smartwatches are still high. However, prices are expected to decrease with a rise in demand for smartwatches and the entry of new players in the voice over long-term evolution (VoLTE) smartwatch market. The voice over long-term evolution (VoLTE) smartwatch market is still in the nascent stages and is dominated by a few multinational companies. These companies have been introducing new technologies for years.
Voice over Long-term Evolution (VoLTE) Smartwatch Market - Key Players
Some of the key players operating in the voice over long-term evolution (VoLTE) smartwatch market are Samsung Group, Apple Inc., LG Electronics Inc., Huawei Technologies Co., Ltd., ZTE Corporation, and Omate Inc.
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