Voice Over LTE (VoLTE) Market is Expected to Garner $34.8 Billion by 2022
Published on: 7th Jul 2016
Note -- this news article is more than a year old.
A new report published by Allied Market Research projects that the world Voice over Long Term Evolution (VoLTE) market is likely to generate revenue of $34.8 billion by 2022, growing at a CAGR of 50.1% from 2016 to 2022.
Asia-Pacific is expected to be the largest VoLTE market during the forecast period on account of the early roll out of VoLTE and VoLTE enabled devices by the operators in the developed countries in the region. Mobile operators around the world are progressively heading towards VoLTE owing to the increasing investments in LTE and IP Multimedia Subsystem (IMS).
Among the different VoLTE technologies, Circuit-Switched Fall Back (CSFB) constitutes the highest market share owing to its wide acceptance globally, as the end-goal solution for offering voice services over LTE. Although, the technology requires specific modifications in the hardware infrastructure and utilizes multiple data transition elements, it remains the utmost cost-effective solution for voice provision in LTE. On the other hand, voice Over LTE Via Generic Access Network (VOLGA) is likely to be the fastest growing technology, as for all the operators grappling with approaches for VoLTE, VOLGA offers short-term service acceleration as well as long-term investment protection, which are designed to deliver profitable telephony services.
VoLTE deployments are growing at an exponential rate worldwide, with developed countries taking the lead. In 2015, Asia-Pacific generated the highest revenue, followed by North America. Even from a growth perspective, Asia-Pacific would be one of the most lucrative markets, on account of the increasing investments in the technology by the mobile operators, to capture the large subscriber base in developed as well as emerging countries in the region.
Key findings of the study:
- VOLGA market is expected to exhibit a remarkable growth during the forecast period, attributed to faster call setup times as compared to other technologies.
- CSFB is likely to maintain its leading position as a widely used technology during the forecast period based on speed and accuracy.
- Industry participants focus on introducing new products with innovations and partnerships to improve their market share.