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Fixed Mobile Convergence Market Report 2024-2033 | Share, Trends, Growth Demand, Overview
Fixed Mobile Convergence Market
Fixed Mobile Convergence Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $11.46 billion In 2028 At A CAGR Of 14.5% :
The fixed mobile convergence market size has grown rapidly in recent years. It will grow from $5.84 billion in 2023 to $6.67 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to the up-gradation in fixed and wireless networks, the rise of 5G technology, the increased demand for a seamless transition in calls, and the demand for unified communication.
The fixed mobile convergence market size is expected to see rapid growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to the increasing demand for unified communication, the adoption of fixed mobile convergence technology, the growing demand for integrated services, the increasing use of digital devices, and rising remote work. Major trends in the forecast period include technological advancements, multi-access edge computing (MEC), 5G integration, enterprise mobility solutions, IoT and smart devices.
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Fixed Mobile Convergence Market Major Segments
The fixed mobile convergence market covered in this report is segmented -
1) By Convergence Type: Session Redirection, Private Branch Exchange (PBX) Mobility, Client Software, Dual Mode Support
2) By Component: Voice, Videotelephony, Social Networking, Broadband Internet, Broadband Television (TV)
3) By Service Provider: Mobile, Broadband, Combined
4) By End-User: Home Users, Enterprises, Information Technology (IT) And Telecommunications (Telecom), Banking, Financial Services, And Insurance (BFSI), Automotive, Healthcare, Media And Entertainment, Government
Key Driver - 5G Technology Fueling Growth Of The Fixed Mobile Convergence Market
The rising 5G technology is expected to propel the growth of the fixed mobile convergence market going forward. 5G is the fifth generation of cellular network technology that is designed to provide faster data speeds, lower latency, and greater capacity compared to previous 4G networks. Demand for 5G technology is on the rise due to several reasons, such as increased data traffic, capacity and connectivity, and enhanced mobile broadband. The high bandwidth and seamless connectivity of 5G technology enable smooth integration of fixed and mobile networks, facilitating uninterrupted handovers between Wi-Fi and cellular networks. This boosts the growth of fixed mobile convergence by offering faster speeds and reliable connections for users across various devices and locations. For instance, in April 2023, according to 5G Americas, a US-based organization composed of telecommunications service providers, global 5G wireless connections increased by 76% from the end of 2021 to the end of 2022, reaching up to 1.05 billion. It is expected to reach 5.9 billion connections by the end of 2027. Therefore, the rising 5G technology is driving the growth of the fixed mobile convergence market.
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Prominent Trend - Introducing Cloud-Based Unified Communications Platform To Enhance Business Collaboration
Major companies operating in the fixed mobile convergence market are focused on developing advanced solutions, such as cloud-based unified communications platforms, to enhance communication and collaboration for businesses. A cloud-based unified communication platform refers to a comprehensive communication solution hosted in the cloud that integrates fixed-line and mobile communication services onto a single, unified platform. This platform enables users to access a wide range of communication tools and services seamlessly across fixed and mobile networks. For instance, in April 2023, Vodafone Idea Limited, an India-based mobile network operator company, in partnership with RingCentral Inc., a US-based provider of cloud-based communication and collaboration products and services, launched Vodafone Business Unified Communications (UC), a new unified communications solution in Italy to support hybrid working. The platform provides analytics and reporting tools that enable businesses to analyze usage, evaluate call quality, and discover areas for development. It is accessible from any device with an internet connection without the need to download an additional application, making it suitable for remote or hybrid teams. Also, it offers multiple levels of enterprise-grade security and satisfies local and international data regulations.
Fixed Mobile Convergence Market Players
Major companies operating in the fixed mobile convergence market are Samsung Electronics Co. Ltd., Verizon Communications Inc., AT&T Inc., Huawei Technologies Co. Ltd. , T-Mobile US Inc., Cisco Systems Inc., Orange S.A., Telefonica S.A., Fujitsu Limited , Ericsson, Deutsche Telekom AG, Nokia Corporation, NEC Corporation, ZTE Corporation, Motorola Solutions Inc., BT Group plc, Juniper Networks Inc., Amdocs Limited, Avaya LLC, Mitel Networks Corporation, Mavenir, Radisys Corporation, Ribbon Communications Operating Company Inc. , CounterPath Corporation, Tango Networks Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the fixed mobile convergence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fixed mobile convergence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fixed Mobile Convergence Market Report Structure
3. Fixed Mobile Convergence Market Trends And Strategies
4. Fixed Mobile Convergence Market - Macro Economic Scenario
5. Fixed Mobile Convergence Market Size And Growth
…..
27. Fixed Mobile Convergence Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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