Voice over Long Term Evolution (VoLTE) market is expected to garner $34.8 billion by 2022, registering CAGR of 50.1% during the forecast period 2016 - 2022.
Portland, OR -- (SBWIRE) -- 06/26/2017 -- Voice Over Long Term Evolution (VoLTE) Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $34.8 billion by 2022, registering a CAGR of 50.1% during the period 2016 – 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 Long Term Evolution (LTE) and IP Multimedia Subsystem (IMS).
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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.
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Key Findings of Voice Over LTE Market:
- 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.
- VoLTE market comprises dominant players such as AT&T Inc., Huawei Technologies Co. Ltd., Ericsson, and others. These market players primarily focus on the development of new technology, launch of novel products with innovative variations, and partnerships & collaborations to strengthen their market position.