Telecom Giants Propel Growth: IP Multimedia Subsystem Market Thrives in North America
The IP Multimedia Subsystem (IMS) market refers to the business and industry associated with the development, deployment, and utilization of IP Multimedia Subsystem technology. IMS is a framework for delivering multimedia services over IP (Internet Protocol) networks. It is designed to provide a standardized architecture for multimedia services, enabling the convergence of various communication services, such as voice, video, and messaging, over Internet Protocol networks.
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The market for IP Multimedia Subsystems encompasses the production and distribution of IMS-related hardware, software, and services. Major players in the telecommunications industry, including telecom giants and network companies, are involved in implementing IMS to enhance their networks and offer a wide range of multimedia services. These services may include Rich Communication Services (RCS), private LTE (Long-Term Evolution), wireless broadband, and other multimedia applications.
The COVID-19 pandemic significantly increased global telecommunications network traffic, as businesses and educational institutions transitioned to remote modes for safety. The Indian telecom market, for instance, grew by over 16% in 2020, mirroring similar trends worldwide. Telecommunication companies responded by intensifying their investments in IP Multimedia Subsystem market analysis during this period.
In 2020, the product segment dominated the global IP multimedia subsystem market share and is expected to maintain this dominance. Mobile operators leverage various IMS solutions to offer applications like VoLTE, VoWiFi, RCS, and UCaaS. The service segment is predicted to be the fastest-growing within the IMS industry, driven by the rising demand for VoLTE and LTE services, global standards for network infrastructure, and the surge in demand for music and video-on-demand services.
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Additionally, the advent of 5G is poised to introduce new utility cases such as smart cities, smart agriculture, logistics, and public security agencies. Post-COVID-19, the Global IP Multimedia Subsystem Market is forecasted to be $2.61 billion in 2022, with projections reaching $7.29 billion by 2030.
The global increase in COVID cases prompted businesses and governmental organizations to implement remote working policies, while educational institutions adopted remote learning, resulting in a substantial surge in telecom network traffic. Telecom operators relied on IP Multimedia Subsystem (IMS) to ensure uninterrupted operations during lockdowns, contributing to the growth of the IMS market during this period. The market is expected to continue expanding in the coming years.
Based on component, the product segment contributed to the highest market share in 2020, attributing to nearly four-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the services segment is expected to manifest the fastest CAGR of 14.6% from 2021-2030.
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Based on operators, the mobile operators segment contributed to the highest market share in 2020, attributing to more than four-fourths of the total market share, and is anticipated to lead during the forecast period. The segment is expected to manifest the fastest CAGR of 13.7% from 2021-2030. The report also analyzes the fixed operators segment.
Key Insights from the Study
• In 2020, the product segment emerged as the dominant contributor, while services are anticipated to experience the highest growth rate throughout the forecast period.
• Among operators, mobile operators secured the highest revenue share in 2020, but the fixed operator segment is projected to demonstrate the most substantial growth during the forecast period.
• Geographically, North America held the reins in the IMS market in 2020; however, Asia-Pacific is poised for significant growth in the forthcoming years.
During the forecasted period, North America is anticipated to dominate the market share of the IP Multimedia Subsystem, primarily due to the presence of major telecom giants in the region. The implementation of new applications like RCS, private LTE, and wireless broadband by network companies further contributes to this trend. The versatility of IMS services enables devices such as smartphones and laptops to access a diverse range of networks, including mobile phones, broadband, and Wi-Fi.
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The growing adoption of multimedia applications, driven by the increasing use of smartphones in the United States, is fostering improved communication. Additionally, there is a concerted effort by political authorities to enhance existing communication networks, emphasizing compatibility with the 5G network, thereby presenting opportunities for the growth of the IMS market
The report highlights several key companies, including Athonet srl, Cirpack, Cisco Systems, Inc., Ericsson, Huawei Technologies Co., Ltd., International Business Machines Corporation, NEC Corporation, Nokia, Oracle Corporation, and ZTE Corporation.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players and those willing to enter the market.
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