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VoLTE (Voice over LTE) Technology Market Grow by 2027
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Global VoLTE Technology Market - Overview
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.
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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.
In its recently published study report; foretelling the market insights up to 2022 Market Research Future (MRFR) states that the VoLTE Technology has the potential to evolve & expand further. And, hence the global VoLTE (Voice over LTE) market is to experience an exponential growth by 2022, registering a fabulous CAGR during 2017 - 2022.
The evolution of 4G LTE network has impacted the market growth positively. Growing demand for efficient voice call services in telecommunication sectors has fostered the market growth to an extent. Increasing adoption of video conferencing and instant file transmission services by enterprises provides impetus to the market growth of VoLTE.
Conversely, the high cost of calls and lack of technical expertise are some of the factors hindering the market growth of VoLTE Technology Market. Nevertheless, the market proliferation of smartphones and growing radio spectrum traffic over the network is encouraging operators to invest more in broadband networks, therefore, creating demand for voice over LTE for the better network technology if offers.
Global VoLTE Market – Competitive Analysis
Well-established players having a strong presence in the international and regional market adorn the global VoLTE market as highly competitive and fragmented. At present, key players operating in the market are fervent to invest heavily which will transform the consumer and business landscape in the future. All players are fiercely competing to gain a substantial market share. Matured players incorporate collaboration, acquisition, partnership, product & technology launch, and expansion, to gain competitive advantage and to stay abreast in this market.
Industry/ Innovation/ Related News:
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.
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Global VoLTE Technology Market - Segments
For the convenience of the report and enhanced understanding; MRFR Analysis is been segmented in to 3 key dynamics;
By Device : Tablets/Laptops, Smartphones, Routers, and Wireless modem among others.
By Technology : VoIMS (Voice over IP Multimedia Subsystems), CSFB (Circuit Switch Fall Back), SRVCC (Single Radio Voice Call Continuity), and SVLTE (Simultaneous Voice & LTE) among others.
By Regions : North America, Europe, APAC and Rest of the World.
VoLTE Technology Market: Regional Analysis
North America region dominates the Global VoLTE Market with the largest share owing to the highest per capita in the region that is improving consumers’ lifestyle, enhancing their affordability. Moreover, the rise in application areas of the technology coupled with its large-scale adoption in telecommunications is driving the market in this region.
The Europe VoLTE market is increasing due to the resurging economy and the proliferation of smartphones in the region. Growing investments in the development of technology are paying off well driving the regional market growth. Also, the presence of prominent market players in the region and the investments put in by them in R&D activities, in turn, foster the market growth to an extent.
While the Asia Pacific region is growing steadily owing to the factors such as Technical expertise rendered by the existing key market players coupled with the rising demand for the technology in emerging countries like India, China & Taiwan, and increased industrialization are driving the market in this region.
Key Players:
Verizon Wireless (US), AT&T Inc. (US), Nokia Corporation (Finland), Ericsson (Sweden), Alcatel-Lucent (France), KT Corporation (South Korea), Rogers Communication (Canada), SK Telecom Co. Ltd. (South Korea), Huawei Technologies Co. Ltd. (China) and LG Uplus Corporation (South Korea) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global VoLTE Technology Market.
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Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.
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