VoLTE (Voice over LTE) Technology Market – Overview
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.
In August 2016, AT&T disclosed that Ericsson, Samsung, Nokia, Qualcomm Technologies, and other global leaders in the technology industry are working together for the growth of 5G technologies across the world. Many companies globally have launched Voice over LTE in the recent years providing their users with fast and efficient video calling services.
Nov 2018 Jio has recently launched India's first VoLTE international roaming plan between Japan and India. The introduction of VoLTE international roaming plans has enabled Jio to become the leading telecom operator in India to offer such a service. The VoLTE international roaming plan is aimed at Jio users traveling from India to Japan enjoy HD voice and LTE high-speed data.
May 2018 Vodafone India recently expanded its Voice over LTE (VoLTE) based services to Kolkata even as it makes ready its plans to launch the service to 4G customers across the country in phases
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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.
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