Voice Over LTE (VoLTE) Market 2018 Segmented, by Technology, by End-user Industry, and Region – Growth, Trends, and Forecast till 2023

The study provides a holistic perspective on global voice over LTE (VoLTE) market growth in terms of revenue estimates (in US$ Mn) globally. The market estimates have been analyzed by taking into account the impact of various factors & the existing market dynamics.

Dallas, United States – September 27, 2018 /MarketersMedia/ —

The voice over LTE (VoLTE) market is expected to register a CAGR of over 54.69% during the forecast period 2018 – 2023.

Voice over LTE (VoLTE) is a high-speed wireless communication technology for mobile phones and data terminals, which includes IoT devices and wearable. It enables calls over an LTE network. The technology merges voice and data, which results in better efficiency and better quality. The operators use data network for transmitting voice services in small-sized packets by using voice over LTE, which results in increase spectrum efficiency and reduced maintenance and operating costs. The regulations of the telecommunication sector for efficient voice call services with faster call setup time and improved spectral efficiency has driven the major networking companies to invest in voice over LTE technology. More than 140 mobile operators have commercially launched voice over LTE (VoLTE) services, and several roaming and interoperability agreements are already in place.

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The increasing demand for high-speed internet and increased spectrum efficiency is driving the growth of the market, while the high cost of installation of equipment, lack of awareness, and slow adoption in underdeveloped countries is restraining the growth of the market.

Increasing Demand for High-Speed Internet is driving the Voice Over LTE (VoLTE) Market

The digitalization of information and the favorable government policies to digitize information and services is enabling people to use the internet. The increasing number of smartphones and large availability of online entertainment sources is resulting in the rapid growth of mobile broadband users. The smartphone allows its users from the corporate sector for video calling and group discussions through visual interfaces. The demand for high-speed internet is increasing as the internet speed required for video calling, as well as for online entertainment services, is high. A voice over LTE (VoLTE) can provide the internet with a speed 20 times greater and a higher voice quality than that of earlier technologies. This ability of voice over LTE is resulting in a significant growth of the market.

Asia-Pacific to be the Major Region over the Forecast Period

Asia-Pacific has seen a significant growth in voice over LTE (VoLTE) in the past year and is expected to have a rapid growth over the forecast period. Asia-Pacific has the highest population of 4.6 billion of total 7.6 billion of the world population. The region consists of developing countries, such as India, China, Japan, and South Korea, which are opting for digitalization. The disposal income of the people in this region has seen a significant growth over the recent years and is expected to increase over the forecast period. For instance, in 2017, the average disposal income of people in China is CNY 36,396, which has seen a growth of 8.5% from the previous year. This increasing disposal income is allowing people to opt new technologies, which enhance their lives. One such technology is smartphone with voice over LTE technology. The mobile network providers, such as Vodafone, Airtel, Reliance Jio, Digi, U Mobile, Yes 4G, and Dialog have made themselves into the VoLTE technology and are investing in this technology to provide better service. Countries, such as China, Japan, South Korea, and India are the major contributors in the region.

Key Developments in the Voice Over LTE (VoLTE) Market

May 2018: Idea Cellular has advanced its shares by 3.5% as the company rolled out 4G Voice over LTE service in 15 telecom circles covering all the district headquarters, which include Mumbai, Karnataka, Punjab, Haryana, West Bengal, UP East, UP West, Bihar & Jharkhand, and Rajasthan.
May 2018: Nokia 7 Plus smartphone launched back in February, but was crucially missing 4G Voice over LTE support on its second SIM card. It is now receiving an update in India unlocking Voice over LTE on the two SIM card slots. The update is V2.22A version and along with the new functionality, it brings better system stability and some user interface tweaks.

Voice Over LTE (VoLTE) Market Major Players:

AT&T Inc.
Huawei Technologies Co. Ltd
Bharati Airtel
Erisson
SK Telecom
Alcatel-Lucent
Nokia Solutions And Networks
LG Uplus Corp.
Vodafone
Bell Canada

Reasons to Purchase Voice Over LTE (VoLTE) Market Report

To know how various factors are driving the market with respect to the global market scenario
To analyze various market perspectives, with the help of Porter’s five forces analysis
To know the regions that are expected to witness the fastest growth rate during the forecast period
To identify the latest developments, market shares, and strategies that are employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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Companies Mentioned:

AT&T Inc.
Huawei Technologies Co. Ltd
Bharati Airtel
Erisson
SK Telecom
Alcatel-Lucent
Nokia Solutions And Networks
LG Uplus Corp.
Bell Canada
Vodafone
Mobitel

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