IP Multimedia Subsystem Market Growth Accelerates: Strategic Forecast Predicts $7.67 Billion by 2029

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What Will the IP Multimedia Subsystem Industry Market Size Be by 2025?
The market for IP multimedia subsystems has been expanding swiftly over the past few years. It is projected to increase from a worth of $3.69 billion in 2024 to $4.16 billion in 2025, representing a compound annual growth rate (CAGR) of 12.8%. The historical growth period is due to factors such as the surge in OTT services, industrial teamwork and standards, implementation of VoLTE, the unification of the telecom industry, and a fast increase in mobile data traffic.

What's the Long-Term Growth Forecast for the IP Multimedia Subsystem Market Size Through 2029?
It is predicted that the IP multimedia subsystem market will experience significant expansion in the upcoming years, projected to reach a value of $7.67 billion by 2029, reflecting a compound annual growth rate (CAGR) of 16.5%. This projected growth during the forecast period is linked to several factors, including the escalating demand for rich communication services (RCS), advances in internet of things (IoT), the prevalence of cloud-based IMS solutions, integration of virtualization and NFV, demand for superior multimedia services, and government initiatives and strategies. Key trends expected to influence the market during the forecast period are intense market competition and innovation, adoption of unified communications by enterprises, strategies of mobile network operators, and service providers prioritizing customer experience.

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What Are the Key Growth Drivers Fueling the IP Multimedia Subsystem Market Expansion?
The growth of the IP multimedia subsystems market is being propelled by an increased use of multimedia applications. As a comprehensive tool, multimedia facilitates effective communication of ideas and concepts. Its versatile nature makes it suitable for a broad spectrum of applications that require engaging, visually appealing, and three-dimensional environments. The IP multimedia subsystem plays a critical role in maintaining efficient communication services across multiple multimedia applications. For example, StatCounter, a website statistics program based in Ireland, reported a growth of social media users in Europe to 8.54% in September 2024, a significant increase from 7.29% in August 2024. This surge in the use of multimedia applications is consequently driving the growth of the IP multimedia subsystems market.

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What Are the Key Trends Driving IP Multimedia Subsystem Market Growth?
The key trend gaining traction in the IP multimedia subsystem market is technological advancement. To bolster their market position, major firms concentrate on research and product innovation. GL Communications Inc., a multinational telecommunication equipment and services company based in South Korea, launched its innovative conformance test tool in January 2022. This tool supports the simulation of numerous telecommunication protocols and employs the unique characteristics of the Session Initiation Protocol (SIP), also known as the MAPS LCS Test Suite. SIP is a sophisticated signaling protocol that facilitates real-time communication sessions between Internet protocol devices, allowing for voice, messaging, video, and other communication channels between IP network endpoints. The MAPS LCS Test Suite provides a comprehensive network atmosphere for clients to test their applications, devices, and services within the IP multimedia subsystem (IMS) infrastructure using pre-prepared testbed setups.

How Is the IP Multimedia Subsystem Market Segmented?
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

Subsegments:
1) By Product: IMS Core Components, Application Servers, Session Border Controllers, Gateways, User Equipment (UE)
2) By Services: Consulting Services, Implementation And Integration Services, Managed Services, Support And Maintenance Services, Training Services

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Which Companies Are Leading the Charge in IP Multimedia Subsystem Market Innovation?
Major companies operating in the IP multimedia subsystem market 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., Juniper Networks Inc.

Which Regions Are Leading the Global IP Multimedia Subsystem Market in Revenue?
North America was the largest region in the IP multimedia subsystem market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IP multimedia subsystem market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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