Future Market Insights forecasts the global IP multimedia subsystem market revenue to increase from nearly US$ 14.3 Bn in 2017 to nearly US$ 50.4 Bn by 2026 end. This represents a compound annual growth rate (CAGR) of 15.0% from 2016 to 2026. The global IP multimedia subsystem market is expected to represent an incremental opportunity of nearly US$ 38 Bn between 2016 and 2026.
Valley Cottage, NY -- (SBWIRE) -- 03/15/2018 -- Future Market Insights (FMI) recently published a report on the global market for IP multimedia subsystem, findings from which assert that the market will surge at an impressive pace over the forecast period (2016-2026). Demand for IP multimedia subsystem is anticipated to grow at a pronounce rate and bring in US$ 50,347.4 Mn in revenues by 2026-end, reflecting a CAGR of 15% during the forecast period. Increasing use of shared service infrastructure is cited as a key factor propelling growth of the global IP multimedia subsystem market. In addition, interworking with Internet and support for quality of service is also likely to drive the demand for IP multimedia subsystem in the near future.
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As per the FMI report, the global market for IP multimedia subsystem is expected to represent an incremental opportunity of US$ 37,927.6 Mn between 2016 and 2026. The market is anticipated to witness overwhelming growth owing to the increasing usage of services such as instant messaging, multimedia, and conferencing. Moreover, enterprises are now using IP multimedia subsystem to communicate with other business clients in real-time. IP multimedia subsystems enable service expansion, especially in multimedia communication and integrated voice services. This helps in collaboration of multiple media, multiple points of access and multiple modes of communication into a single network, which is why a large number of network operators are adopting IMS services. Mitel Networks Corporation, Cirpack SAS, Italtel S.p.A, Cisco Systems, Inc., Huawei Technologies Co. Ltd., Du, IBM Corporation, ZTE Corporation, Etisalat, Ericsson Inc., Nokia Corporation, MTN Irancell Telecommunication Services Company are recognised as top companies providing IP multimedia subsystem solutions.
Key Highlights of the Report include:
In 2016, revenues from the sale of mobile/wireless mode IP multimedia subsystem stood at US$ 8,687.9 Mn and is expected to reach US$ 40,931.3 Mn towards the end of the forecast period representing a CAGR of 20.8%. Consumers and enterprises are increasingly adopting IP multimedia subsystem solutions due to increasing usage of wireless phones, laptops and other wireless devices.
Application of IP multimedia subsystem in Internet and web service is expected to garner US$ 14,579.8 Mn in revenues by the end of the assessment period, reflecting a CAGR of 17.2% over 2026. This is attributed to the robust use of internet and web-based services for managing online business applications, VoIP applications, VoLTE applications and others Internet-based communication. Meanwhile, use of IP multimedia subsystem in VoIP is also increasing owing to the growing popularity of video and voice-based communication.
By the end of 2026, US$ 28,283.7 Mn worth IP multimedia subsystems are expected to be sold globally to end-user consumers. Consumers are rapidly adopting IP multimedia subsystem services owing increasing adoption of social media platforms for social and personal communication.
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Among regions, the market for IP multimedia subsystems in North America is expected to remain dominant throughout the forecast period. In 2016, the region's market reached a valuation of US$ 3,318.2 Mn, with 26.7% revenue share. APEJ is also expected to witness a robust growth of its IP multimedia subsystems market, increasing at an attractive CAGR of 18.5 % during the forecast period.