IP Multimedia Subsystem (IMS) Services Global Market Expected to hit $6.35 Billion By 2028, Top Factors Leading The Industry Worldwide | Cisco Systems Inc., Oracle Corporation, Nokia Corporation, Ericsson AB, NEC Corporation

The IP multimedia subsystem (IMS) services market size has grown rapidly in recent years. It will grow from $2.94 billion in 2023 to $3.42 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to increasing demand for converged services, the proliferation of smartphones and mobile data usage, the deployment of long-term evolution (LTE) networks, the rise of OTT services, and the increasing demand for high-quality multimedia experiences.

The IP multimedia subsystem (IMS) services market size is expected to see rapid growth in the next few years. It will grow to $6.35 billion in 2028 at a compound annual growth rate (CAGR) of 16.7%. The growth in the forecast period can be attributed to increasing adoption of 5G networks, rising demand for VoLTE, proliferation of Internet of Things (IoT) devices, shift towards cloud-based services, and demand for rich communication services (RCS). Major trends in the forecast period include the adoption of artificial intelligence (AI) and machine learning (ML) technologies, integration of IMS services with multi-access edge computing (MEC), AI-driven automation, and integration of IMS services with edge computing platforms.

Market Overview -
IP multimedia subsystem (IMS) services refer to a suite of telecommunications services delivered over IP networks through a standardized framework as the IMS architecture. These services encompass various multimedia communication applications, including voice, video, messaging, and data services, accessible across various devices and network environments.

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Remote Work Culture Driving Growth Of The IP Multimedia Subsystem (IMS) Services Market
The rise of the remote work culture is expected to propel the growth of the IP multimedia subsystem (IMS) services market going forward. Remote work culture refers to the digital environment within a company that fosters connectivity among employees through shared experiences, interests, and priorities. The remote work culture is increasing due to changing employee preferences, cost savings for employers, and the need for greater flexibility in work arrangements. IP multimedia subsystem (IMS) services facilitate seamless communication and collaboration for remote work environments through integrated voice, video, and data functionalities over IP networks. For instance, in September 2023, according to the U.S. Bureau of Labor Statistics, a US-based government agency, in August 2023, approximately 19.5% of workers engaged in telework or paid work from home, consistent with a range of 17.9% to 20% observed between October 2022 and August 2023. Therefore, the rise of the remote work culture drives the growth of the IP multimedia subsystem (IMS) services market.

Competitive Landscape -
Major companies operating in the IP multimedia subsystem (IMS) services market are Samsung Electronics Co. Ltd., Huawei Technologies Co. Ltd., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Nokia Corporation, Ericsson AB, NEC Corporation, ZTE Corporation, Mavenir Systems Inc., F5 Inc., Genesys Telecommunications Laboratories Inc., Italtel SpA , Ribbon Communications Inc., Avaya Holdings Corp, Dialogic Corporation, Aviat Networks Inc., Genband Telecommunications Private Limited, Metaswitch Networks Ltd., Allot Communications Ltd., CommVerge Solutions Limited, Interop Technologies LLC, Unify Technologies Pvt Ltd, CommuniGate Systems Inc., Bradford Networks Inc.

Shift Towards SIP-Based IP Multimedia Subsystem (IMS) Solutions For Enhanced Communication Services
Major companies operating in the IP multimedia subsystem (IMS) services market are focusing on developing advanced solutions, such as MAPS session initiation protocol (SIP)-based IP multimedia subsystems (IMS), to gain a competitive edge in the market. MAPS SIP-based IP multimedia subsystem (IMS) is a framework for delivering multimedia services over IP networks, where SIP serves as the primary signaling protocol for initiating and managing communication sessions. For instance, in March 2022, GL Communications Inc., a US-based company offering telecommunications consulting services, announced the launch of the MAPS Session Initiation Protocol (SIP) IMS Test Suite. MAPS is a versatile emulation software supporting multiple protocols and interfaces for signaling and traffic generation, encompassing voice, tones, digits, fax, data, and video within a unified framework. The test suite offers a comprehensive network environment, allowing users to evaluate their applications, devices, and services before deploying them on a network.

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Key Segments -
The IP multimedia subsystem (IMS) services market covered in this report is segmented -
1) By Service: Instant Messaging, Voice Over Internet Protocol (VoIP), Voice Over Long Term Evolution (VoLTE), Voice Over Wi-Fi (VoWiFi), Other Services
2) By Application: Residential, Enterprise, Government And Public Sector, Other Applications
3) By End-User: Telecom Operators, Enterprises, Government Organizations, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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