Voice over LTE Market Overview
The global voice over LTE market is segmented based on technology, device type, and region. The global voice over LTE market is expected to reach US$ X.X billion over the forecast period at a CAGR of XX.X%.
Voice over long-term evolution (Voice over LTE/VoLTE) is a technology specification that defines the standards for high-speed wireless communication for mobile phones and data terminals. VoLTE works on IP-based networks and supports packet switching, which helps to increase spectrum efficiency and reduce maintenance and operational costs. In addition, VoLTE enables network operators to offer rich communication services (RCS) such as voice calling, video calling, video-voice mail, messaging, and real-time language translation.
Features such as improved voice and video quality and increased spectrum efficiency provided by LTE services are major factors driving the growth of the global VoLTE market. In addition, the rising adoption of VoLTE services by several operators and in the telecommunication and IT industry are other factors driving the growth of the global VoLTE market. Increasing demand for unified mobile communication (UC) owing to faster network speed, reduced call drops, and better user experience is further propelling the growth of the global VoLTE market. Moreover, operators are enhancing indoor network coverage by providing VoWi-Fi and extending communication services with real-time web communication (WebRTC).
Limited 4G coverage, lack of VoLTE compatible handsets, need for transmitter and receiver (i.e., communication devices) supporting VoLTE technology, and delayed acceptance in some countries are major factors hampering the global voice growth over the LTE market. Furthermore, voice and video calling and internet surfing are offered under the same data plan, eventually leading to high data charges, another factor hampering the growth of the global VoLTE market.
However, increasing competition amongst telecom and network operators to acquire 4G space, growing demand for VoLTE-supported devices, and comparative lower pricing are expected to drive the market growth over the next ten years. For example, Indian telecom operator Reliance launched free Jio 4G services for 6 months. In contrast, Sprint, a U.S.-based mobile network operator, provided an unlimited data plan for a year.
The global VoLTE market is segmented based on technology, device type, and region.
North America dominates the global VoLTE market owing to the early adoption of VoLTE technology and services and the presence of major network providers. The U.S market accounts for the largest market share. The market in the Asia Pacific is expected to witness significant growth and is projected to register a CAGR of XX% during the forecast period. This growth is attributed to the increasing adoption of VoLTE services in this region.
Global Voice over LTE Market Segmentation:
Segmentation based on technology:
- Voice over IP multimedia subsystem (VoIMS)
- Circuit switched fallback
- Dual radio or simultaneous voice and LTE (SVLTE)
Segmentation based on device type:
- Wireless modems
- Others (laptops, notebooks, tablets, and modules)
Segmentation based on region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Nokia Solutions & Networks
- Huawei Technologies Co. Ltd.
- AT&T Inc.
- Ericsson AB
- LG Uplus Corp.
- SK Telecom Co. Ltd.
- MetroPCS Communications, Inc.
- KT Corp.
- Verizon Wireless.
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