VoLTE (Voice over LTE) Technology Market – Overview
Global VoLTE (Voice over LTE) market is to experience an exponential growth by 2023, registering a fabulous CAGR during 2019 – 2023.
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
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.
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VoLTE or Voice over Long-Term Evolution refers to a digital voice service, delivered over IP via an LTE access network and utilizing IMS technology. Many organizations implement VoLTE for the monetary & operational benefits it offers. Providing a more efficient use of spectrum than traditional voice; VoLTE successfully meets the rising demand for enhanced and more reliable services.
Allowing the convenience of portability, VoLTE eliminates the need to have the voice on one network and data on another. Such aspects are allowing VoLTE Technology to garner a lot of prominence on the global platform, escalating its market to perceive phenomenal accruals.
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).
Mitel Networks Corporation (Canada), MetroPCS Communications (U.S.), Aptilo Networks (Sweden) are some other global players in the VoLTE Technology Market.
VoLTE (Voice over LTE) Technology Market Segmental Analysis
The segmentation of the Voice over LTE Technology market comprises of technology, region, and device. On the basis of device, the VoLTE Technology market is segmented into laptops, smartphones, tablets, routers, and others. On the basis of Technology, the market is segmented into Voice Over IP Multimedia Subsystems (VoIMS), Circuit Switch Fall Back (CSFB), Simultaneous Voice and LTE (SVLTE) and Single Radio Voice Call Continuity (SRVCC). The regions involved in the market are North America, Europe, APAC and rest of the world.
May 2, 2018 – Idea Cellular (India), one of the telecom giants launched its 4G VoLTE services in six prominent states of India including Maharashtra & Goa, Kerala, Gujarat, Tamil Nadu, Andhra Pradesh & Telangana, and, Madhya Pradesh & Chhattisgarh. Now Idea customers in these six states will be able to use its Voice over LTE services Idea has become the fourth telecom operator in India to kick-start its VoLTE services.
April 20, 2018 – Vodafone Essar (India), one of the telecom giants, after rolling out VoLTE services recently in some of the states in India including Maharashtra & Goa, Delhi-NCR, Gujarat, Haryana, and Rajasthan, launched it in the Chennai state. The telecom company has launched these services to enable its customers the benefits of VoLTE technology, facilitating voice on 4G network and lowers cost of offering voice calls.
May 2, 2018 – Three UK, British telecommunications, and internet service provider announced its partnership with SSE Enterprise Telecoms (UK), a giant provider of high capacity connectivity, to update Three’s backend infrastructure and to pave the way for 5G and enhance 4G coverage. Three has already taken steps to strengthen its network and improve indoor coverage through Voice over Wi-Fi (VoWi-Fi), small cells, Voice over LTE (VoLTE) and low range 800MHz spectrum. The deal with SSE will connect these omnipotent technologies to the network.
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
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of VoLTE Technology Market
5 Industry Overview Of VoLTE Technology Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
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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
Table 4 Asia Pacific VoLTE Technology Market: By Country, 2018-2023
Table 5 The Middle East & Africa 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
FIGURE 4 Value Chain Of Global VoLTE Technology Market
FIGURE 5 Share Of VoLTE Technology Market In 2018, By Country (In %)
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