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The global voice over LTE (VoLTE) market size reached US$ 5.61 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 143.77 Billion by 2027, exhibiting a growth rate (CAGR) of 67.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Voice over LTE (VoLTE) is a high-speed wireless communication standard that routes voice traffic and transmits data across 4G LTE networks. It relies on an internet protocol (IP) multimedia subsystem (IMS) framework to offer advanced multimedia as data flows over a common IP interface without depending on a circuit-switched voice network. It is used in smartphones, data terminals, internet of things (IoT) devices, and wearables for high-speed wireless communications on account of better voice quality, faster call setup, and LTE or 4G data services, like web surfing and tethering during voice calls. As a result, VoLTE finds extensive applications in the commercial, residential and government sectors across the globe.
At present, there is a rise in the utilization of VoLTE by network operators for transmitting voice services in small-sized packets and increasing spectrum efficiency. This, along with the growing demand for VoLTE among operators to provide high-quality video, messaging, and voice services to customers, represents one of the key factors driving the market. Moreover, there is an increase in the employment of rich communication services (RCS) to reduce the time of connecting VoLTE calls, real-time language translation, instant messaging, and voice mails while improving the battery life of devices. This, coupled with the rapid call setup time due to reduced latency with decreasing maintenance and operational costs, is propelling the growth of the market. In addition, high definition (HD) voice offered by VoLTE to give enhanced audio output while reducing the background noise compared to standard voice calls is positively influencing the market. Besides this, the increasing adoption of the internet of things (IoT) in VoLTE technology is offering lucrative growth opportunities to industry investors. Additionally, the escalating demand for high-speed internet among individuals around the world is bolstering the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global voice over LTE (VoLTE) market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, device type and end use industry.
Breakup by Technology:
Breakup by Device Type:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bell Canada (BCE Inc.), Bharati Airtel Limited, D2 Technologies, Huawei Technologies Co. Ltd., Mitel Networks Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, T-Mobile USA Inc. (Deutsche Telekom AG), TPG Telecom Limited and Verizon Communications Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Technology, Device Type, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Bell Canada (BCE Inc.), Bharati Airtel Limited, D2 Technologies, Huawei Technologies Co. Ltd., Mitel Networks Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, T-Mobile USA Inc. (Deutsche Telekom AG), TPG Telecom Limited and Verizon Communications Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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