Asia Pacific Voice Over LTE Market Size, Current and Future Trends, Demand and Growth Rate of 47.7% by 2030

According to a recent report published by Allied Market Research, titled, "Asia Pacific VoLTE Market By Technology, End User, and Country: Opportunity, Analysis and Industry Forecast, 2021-2030,"

The Asia Pacific Voice Over LTE (VoLTE) market was valued at $3,618.48 million in 2020, and is projected to reach $179,569.42 million by 2030, registering a CAGR of 47.7% from 2021 to 2030.

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VoLTE is the technology in which voice calls are made over the LTE (Long Term Evolution) network. It provides superior voice quality and high internet speed over the standard networks. Moreover, VoLTE allows voice and data access simultaneously. The 4G LTE network is the mainstream foundation for the emergence of VoLTE. 4G LTE is around 20 times faster than any 3G broadband technology. Moreover, 4G LTE reduces battery drain rate more efficiently than 3G technology. Despite of the deployment of 4G LTE network for data, several service providers still prefer 3G CDMA and GSM platforms for voice calls. VoLTE is a long-term solution for voice calls as it is designed for the replacement of conventional mobile voice platforms by easy integration of VoIP (Voice over Internet Protocol) services including landline networks.

The Asia Pacific VoLTE market is influenced by several factors such as rise in demand for improved video and voice quality along with the high-speed internet and increasing investment in VoLTE across Asia Pacific. In addition, a presence of leading VoLTE market players in Asia Pacific fuel the growth of this market. However, delayed acceptance in emerging economies hampered the growth of the market to some extent. On the other hand, advent of the 5G Network connectivity and rise in demand for mobile UC (Unified Communications) are estimated to be opportunistic for the growth of the market.

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Competitive Analysis:
The competitive environment of Asia Pacific Voice Over LTE Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Asia Pacific Voice Over LTE Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Huawei Technologies Co., Ltd.
LG Uplus Corp.
SK Telecom
Cisco Systems, Inc.
KT Corporation
Ericsson
Nokia Networks
Vodafone Group Plc
Bharti Airtel
China Mobile Limited and Many More

By region, the Asia Pacific Voice over LTE industry was dominated by China. However, India is expected to witness significant growth in the upcoming years.

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The COVID-19 outbreak has low impact on the growth of the Asia Pacific VoLTE market, owing to the fact that the government and private sectors in emerging countries are working together to speed up the development of 5G and VoLTE infrastructure in the wake of the pandemic. For instance, in Thailand, mobile network operators (MNO) are joining forces to provide 5G networks to hospitals. The Eastern Economic Corridor (EEC), which is a special development zone of Thailand, mandates that 5G must cover approximately 50% of the area in 2020, which means that the equipment installation must commence this year in industrial areas.

In accordance with several interviews conducted of the top level CXOs, the Asia-Pacific region is witnessing an increased adoption of VoLTE technology from developing economies such as India and China. Moreover, the VoLTE market signifies a promising picture for the telecommunication sector. The current business scenario has witnessed an upsurge in the deployment of VoLTE services in developed as well as the developing regions. The companies adopt efficient techniques in an effort to provide the customers with advanced and innovated services. Moreover, the deployment of 5G services across the region is also driving the growth of the market, especially in countries such as China, Japan and South Korea.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.