Press release
Global Voice over Long Term Evolution (VoLTE) Market Size to Grow Steadily during Forecast period 2017-2024 - Research Nester
The global Voice over Long Term Evolution (VoLTE) market is segmented into technology such as Voice over IP Multimedia Subsystem (VoIMS), Circuit Switched Fall Back (CFSB), Dual Radio/Simultaneous Voice and LTE (SVLTE), Voice over LTE via Generic Access Network (VOLGA) and Single Radio Voice Call Continuity (SRVCC). Among these segments, Voice over IP Multimedia Subsystem (VoIMS) segment is expected to occupy the top position in the market. Voice over IP Multimedia Subsystem (VoIMS) segment is anticipated to grow on the back of emergence and adoption of 4G networks.
Global Voice over Long Term Evolution Market is expected to reach around USD 37 Billion by 2024 by registering a CAGR of 27% over the forecast period i.e. 2017-2024. The market is majorly driven by the rapid pace of globalization and rising need for advanced communication services for various commercial and individual purposes.
North-America has witnessed extensive adoption of these advanced services in the past few years and is expected to showcase a tremendous growth in near future. The market will be driven by the growing adoption of advanced communication technology in various corporate and government sectors. Presence of large number of tech savvy population in U.S. region is expected to propel the growth of VoLTE market during the forecast period i.e. 2017-2024.
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Asia-Pacific and Middle East & Africa region offers potential opportunities to the key players of VoLTE market. Rapid urbanization in the regions and increasing expenditure of modern infrastructure are the major driving factors for the market of VoLTE. Growing trend towards video calling and penetration of smartphone users on account of rising personal disposable income is expected to bolster the growth of VoLTE market.
High Spectrum Efficiency
Factors such as high rate of transmission of information and allocation of higher bandwidth are some of the major factors driving the growth of the global Voice over Long Term Evolution (VoLTE) market. Further, Voice over Long Term Evolution (VoLTE) offers six times better spectral efficiency than 3G technology. Moreover, VoLTE provides better efficiency by enabling voice services and data capabilities on the same LTE network. These factors and advantages of VoLTE over other conventional communication technology are anticipated to intensify the growth of the Voice over Long Term Evolution market.
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Better Audio and Video Call Quality
Efficient voice call services such as faster call set up time are increasing the adoption of VoLTE which is impelling the expansion of Voice over Long Term Evolution (VoLTE) market. Further, rich communication service offerings such as rich voice call and rich video call are expected to foster the growth of Voice over Long Term Evolution (VoLTE) during the forecast period. Although, high cost of Voice over Long Term Evolution (VoLTE) services and limited network coverage in developing and undeveloped nations are some of the factors that are likely to inhibit the growth of the Voice over Long Term Evolution (VoLTE) market in the near future.
The report titled “Voice over Long Term Evolution (VoLTE) Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global Voice over Long Term Evolution (VoLTE) market in terms of market segmentation by technology type, by evolution type, by end user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Voice over Long Term Evolution (VoLTE) market which includes company profiling of AT&T Inc., Huawei Technologies Co. Ltd., Ericsson, LG Uplus, Nokia Networks, SK Telecom, T-Mobile and Bharti Airtel,. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Voice over Long Term Evolution (VoLTE) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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