Press release
IP Multimedia Subsystem Market: Pioneering Growth Share, Size, and Industry Forecast to 2033 || Huawei Technologies Co. Ltd., Cisco System Inc., Telefonaktiebolaget LM Ericsson
IP Multimedia Subsystem Global Market Report 2024
The Business Research Company presents an extensive market research report on the IP Multimedia Subsystem Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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..
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Key Market Players:
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.
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/ip-multimedia-subsystem-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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