Global VoLTE Technology Market - Overview
VoLTE or Voice over Long Term Evolution refers to a digital voice service, delivered over IP via an LTE access network and utilizing IMS technology. Many organizations implement VoLTE for the monetary & operational benefits it offers. Providing a more efficient use of spectrum than traditional voice; VoLTE successfully meets the rising demand for enhanced and more reliable services.
Allowing the convenience of portability, VoLTE eliminates the need to have the voice on one network and data on another. Such aspects are allowing VoLTE Technology to garner a lot of prominence on the global platform, escalating its market to perceive phenomenal accruals.
In its recently published study report; foretelling the market insights up to 2022 Market Research Future (MRFR) states that the VoLTE Technology has the potential to evolve & expand further. And, hence the global VoLTE (Voice over LTE) market is to experience an exponential growth by 2022, registering a fabulous CAGR during 2017 - 2022.
The evolution of 4G LTE network has impacted the market growth positively. Growing demand for efficient voice call services in telecommunication sectors has fostered the market growth to an extent. Increasing adoption of video conferencing and instant file transmission services by enterprises provides impetus to the market growth of VoLTE.
Conversely, the high cost of calls and lack of technical expertise are some of the factors hindering the market growth of VoLTE (Voice over LTE) Technology industry. Nevertheless, the market proliferation of smartphones and growing radio spectrum traffic over the network is encouraging operators to invest more in broadband networks, therefore, creating demand for voice over LTE for the better network technology if offers.
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Global VoLTE Market – Competitive Analysis
Well-established players having a strong presence in the international and regional market adorn the global VoLTE market as highly competitive and fragmented. At present, key players operating in the market are fervent to invest heavily which will transform the consumer and business landscape in the future. All players are fiercely competing to gain a substantial market share. Matured players incorporate collaboration, acquisition, partnership, product & technology launch, and expansion, to gain competitive advantage and to stay abreast in this market.
Global VoLTE Technology Market - Segments
The MRFR report throws light on an inclusive segmental analysis of the global voice over LTE market based on device and technology.
By device, the global voice over LTE market is segmented into switches, tablets, cell phones, workstations, and others. Of these, the cell phones device segment will lead the market over the forecast period.
By technology, the global VoLTE technology market is segmented into single radio voice, circuit switch fall back (CSFB), voice over IP multimedia subsystems (VoIMS), simultaneous voice and LTE (SVLTE), and others. Of these, the voice over IP multimedia subsystems (VoIMS) segment will dominate the market over the forecast period.
VoLTE Technology Market: Regional Analysis
By region, the global voice over LTE market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (Row). Of these, North America will steer the market over the forecast period. Highest per capita income in the region that is improving the lifestyle of consumers, enhancing their affordability, rise in application areas of the technology, large-scale adoption in telecommunications, growing adoption of advanced communication technology in different government and corporate sectors, and presence of large number of tech savvy population in the US are adding to the global voice over LTE market growth in the region.
In Europe, the global voice over LTE market is predicted to have second-largest share over the forecast period. The resurging economy, proliferation of smartphones, rising investments in technological developments, the presence of prominent market players and the investments made by these players in research and development activities are adding to the global voice over LTE market growth in the region.
While the Asia Pacific region is growing steadily owing to the factors such as Technical expertise rendered by the existing key market players coupled with the rising demand for the technology in emerging countries like India, China & Taiwan, and increased industrialization are driving the market in this region.
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Key Players:
Verizon Wireless (US), AT&T Inc. (US), Nokia Corporation (Finland), Ericsson (Sweden), Alcatel-Lucent (France), KT Corporation (South Korea), Rogers Communication (Canada), SK Telecom Co. Ltd. (South Korea), Huawei Technologies Co. Ltd. (China) and LG Uplus Corporation (South Korea) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global VoLTE Technology Market.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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