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Global VoLTE (Voice over LTE) Technology Market Trends, Outlook, and Opportunity Analysis, 2018-2023
Global VoLTE Technology Market Research Report— Forecast till 2023
According to the report, In APAC region, growing demand of efficient voice call services in telecommunication sectors is raising VoLTE (Voice over LTE) Technology market in the region. Further, the report states that high price of calls and lack of technical expertise is a challenge to the market growth.
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The global VoLTE (Voice over LTE) Technology market demand is growing due to the growth of smartphones and growing radio spectrum traffic over the network due to which operators are investing more in broadband networks thereby creating need of availability of better network technology such as voice over LTE in the market. According to a recent study report published by the Market Research Future, the global market of VoLTE (Voice over LTE) Technology is expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period 2018-2023.
VoLTE (Voice over LTE) utilizes data and voice simultaneously and offers clear and excellent quality voice and video calls. This platform also enables high-speed communication on data terminals and mobile phones. VoLTE is significantly important to the LTE operators as it allows them to shift from 2G/3G circuit-switched technology to packet switched 4G LTE technology. This, in turn, decreases the cost of voice infrastructure and improves the quality of voice as per the customer requirements and supports the network operators. VoLTE is anticipated as an abiding strategic solution for the LTE Technology.
VoLTE was introduced to meet the requirement of a standardized system for transfer over LTE. The 4G LTE platform forms the foundation for the development of VoLTE. 4G LTE is much faster than any 3G technology. VoLTE comprises a number of technologies including Voice over IP Multimedia Subsystem (VoIMS), Circuit Switched Fall Back (CFBS) and Voice Over LTE Via Generic Access Network (VoLGA).
The market for VoLTE is increasing tremendously. The major driver for Voice over LTE technology market is the evolution of the 4G LTE network with the emergence of video calling and conferencing. The implementation of VoLTE technology offers swift file transfer, increasing efficiency and saving time, which further contributes to the market growth. On the contrary, the cost of handsets enabled with LTE is higher than that of the other devices which can potentially hamper the market growth.
VoLTE Technology is beneficial for various enterprises as it enables voice broadcast over the IP Network, however, in case of LTE the same gets broadcasted over the LTE Network. VoLTE is used for voice and data and can be deployed over the present LTE band in various devices. This technology is specifically optimized for smartphones and provides the users with improved speed and bandwidth.
Prominent key players in the VoLTE Technology Market include AT&T Inc. (U.S.), LG Uplus Corporation (South Korea), Nokia Corporation (Finland), Ericsson (Sweden), Verizon Wireless (U.S.), Alcatel-Lucent (France), KT Corporation (South Korea), Rogers Communication (Canada), Huawei Technologies Co. Ltd. (China) and SK Telecom Co. Ltd. (South Korea).
The Voice over LTE Technology market is segmented into device and technology. These segments are further sub-segmented into the following:
By Device, the VoLTE Technology market is segmented into tablets, smartphones, routers, laptops, and others
By Technology, the Circuit Switch Fall Back (CSFB), Voice Over IP Multimedia Subsystems (VoIMS), Simultaneous Voice and LTE (SVLTE) and Single Radio Voice Call Continuity (SRVCC)
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said:
growing popularity of video conferencing and instant file transmission services by enterprises is the key trend for this market. With increasing investment of market players in network technologies such as 4 G or 5G network to serve the growing market various industries, especially the American and APAC countries are taking many initiatives to implement the VoLTE (Voice over LTE) Technology effectively in their region
June 2018 – AT&T announced to launch Narrowband Internet of Things (NB-IoT) to meet the growing needs of business customers for a wide range of IoT solutions in the U.S. and Mexico country. NB-IoT and LTE-M are Low-Power Wide-Area (LPWA) technologies that support massive IoT deployments. Both NB-IoT and LTE-M supports licensed spectrum and with carrier-grade security.
June 2018 - MTS, a Russian mobile operator, launched VoLTE (Voice over LTE) and Wi-Fi Calling technologies on its network. They are the first network provider offering this services in the Russian region.
June 2018- 4ka, a Slovenský mobilný operator, implemented video calling over LTE (VoLTE) and added seven Samsung models namely, Samsung Galaxy A3, Samsung Galaxy A5, Samsung Galaxy A6, Samsung Galaxy J6, Samsung Galaxy S7, Samsung Galaxy S7 Edge and Samsung Galaxy Note 8, supporting VoLTE to its portfolio.
The regional analysis of VoLTE (Voice over LTE) technology is considered for North America, Europe, Asia Pacific, and the rest of the World. North America is predicted to dominate the VoLTE (Voice over LTE) Technology Market during the forecast period. In addition to dominating the VoLTE technology market, the region is predicted to have the highest market share. Rogers Communication launched VoLTE (Voice over LTE) technology in 2015 all over Canada to provide their users with clear and quick video calling services. The highest CAGR in the VoLTE technology market is recorded for Asia Pacific, due to large consumer base of VoLTE technology in China, India, and Japan. By 2023, VoLTE is expected to be the single most dominant technology in India. Following Asia Pacific is Europe as the technology is growing tremendously in the European region.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List Of Tables
Table 1 VoLTE Technology Market: By Region, 2018-2023
Table 2 North America VoLTE Technology Market: By Country, 2018-2023
Table 3 Europe VoLTE Technology Market: By Country, 2018-2023
LIST OF FIGURES
FIGURE 1 Global VoLTE Technology Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global VoLTE Technology Market
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