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Connecting Networks: The Evolution of Media Gateways
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According to The Business Research Company's, The media gateway market size has grown steadily in recent years. It will grow from $2.43 billion in 2023 to $2.48 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to volte (voice over lte) deployment, focus on cost optimization, cloud-based communication services, rise of voip services, integration of multimedia services.
The media gateway market size is expected to see steady growth in the next few years. It will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to multi-protocol support, increasing data traffic handling, iot integration, unified communication solutions, enhanced security measures. Major trends in the forecast period include interoperability and scalability, ai and automation integration, smart city initiatives, global telecommunication infrastructure development, edge computing and edge devices.
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Market Drivers and Trends:
The growing number of internet users is expected to propel the growth of the media gateway market going forward. Internet users refer to individuals who have access to and utilize the internet for various purposes. As the number of internet users grows, there is an increased demand for efficient and versatile communication solutions. Media gateways become vital components in ensuring compatibility and connectivity between the diverse communication systems that internet users utilize. For instance, in October 2022, according to DataReportal, a Singaporean online reference library, a total of 5.07 billion people around the world use the internet, equivalent to 63.5 % of the world's total population. Internet users continue to grow too, with the data indicating that the world's connected population grew by more than 170 million in the past 12 months. Additionally, in July 2022, according to Livemint, an Indian financial daily newspaper, there were a total of 692 million active internet users in India, including 351 million from rural India and 341 from urban Indian. Therefore, the increase in the internet penetration is contributing to the growth of the media gateway market.
Technological innovation is a key trend in the media gateway market. Major companies in the market are introducing new technologies that work on 5G technology to sustain their position in the market. For instance, in February 2022, ZTE Corporation, a China-based technology company launched ZXV10 B960GV1, a new-generation 5G media gateway set-top box. That is fit for the Android TV. This STB offers new video experiences with low latency, high speed, and high stability. The 5G technology helps to get good quality videos without buffering.
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Major Key Players of the Market:
AudioCodes Ltd., Avaya Inc., Cisco Systems Inc., Dialogic Corporation, Grandstream Networks Inc., Nokia Corporation, Ribbon Communications Operating Company Inc., ZTE Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Patton Electronics Co., Sangoma Technologies Corporation, Synway Information Engineering Co. Ltd., Telcobridges Inc., Yeastar Information Technology Co. Ltd., Dinstar Technologies Co. Ltd., OpenVox Communication Co. Ltd., Vega Global, Welltech Telecom, Matrix Comsec Pvt Ltd., Mitel Networks Corporation, NEC Corporation, Panasonic Corporation, Polycom Inc., Samsung Electronics Co. Ltd., ShoreTel Inc., Toshiba Corporation, Unify Inc., Vodafone Group plc, West Corporation
Media Gateway Market 2024 Key Insights:
• The media gateway market size is expected to see steady growth in the next few years. It will grow to $2.76 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%.
• Data Center Expansion Driving Surge In Media Gateway Market Growth
• Zte Unveils Cutting-Edge 5G Media Gateway Set-Top Box For Enhanced Video Experiences
• North America was the largest region in the media gateway market in 2023
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