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VoWiFi Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies

10-27-2021 04:23 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: P&S Intelligence

VoWiFi Market Analysis by Trends, Size, Share, Growth

The global voice over Wi-Fi (VoWiFi) market generated a revenue of $2,035.3 million in 2019, and it will reach a value of $22,801.2 million by 2030. Furthermore, the market will progress at a CAGR of 24.5% between 2020 and 2030, as per the forecast of the market research firm, P&S Intelligence. The sharp surge in the worldwide Wi-Fi hotspot availability and the rapid improvements being made in the overall quality of service (QoS) for users are fueling the market expansion.

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Besides these, the rapidly improving QoS that is being offered to the subscribers is also driving the progress of the VoWiFi market. Since the emergence of voice over Wi-Fi services, the QoS for users has undergone rapid improvements. This technology allows subscribers to remain connected with each other over call, even when there is no mobile signal. With the help of VoWiFi, users can reliably receive and make calls without upgrading their smartphones or installing any additional applications.

Furthermore, this technology utilizes the existing subscriber identification module (SIM) security mechanisms for authenticating and protecting communications and also provides a seamless network transfer during ongoing calls, to the cellular network from the Wi-Fi. Depending on technology, the VoWiFi market is divided into voice over LTE generic access (VoLGA), voice over IP multimedia subsystem (IMS), and circuit-switched fallback (CSFB) categories. Out of these, the VoLGA category is predicted to exhibit the fastest growth in the market in the forthcoming years.

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Across the globe, the VoWiFi market is predicted to demonstrate the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. China has the biggest VoLTE subscriber base in the region. This is due to the existence of major telecom operators such as China Mobile, China Unicom, and China Telecom in the country. Furthermore, several other countries are also increasingly adopting Wi-Fi networks in their major towns and cities, which is subsequently fueling the market growth in APAC.

Hence, it is safe to say that the market will register huge expansion in the coming years, primarily because of the surging penetration of the internet, increasing Wi-Fi hotspot availability, and the rapidly improving QoS being provided to the users across the world.

About Us:
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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