VoLTE (Voice over LTE) Technology Market Size, Share, Trends, Demand Forecast, Opportunities, Business Revenue, Key Players | Impact of COVID

Market Analysis

The global VoLTE (voice over LTE) technology industry will grow at a healthy CAGR during the forecast period 2020- 2027, states the latest Market Research Future (MRFR) analysis. Voice over long-term evolution (VoLTE), put simply, is a computerized parcel voice administration which uses IMS innovation for high-velocity remote correspondence for cell phones, IoT gadgets, information terminals, and is conveyed over IP through an LTE access organization.

Various factors are fuelling the global voice over LTE market growth. As per the recent MRFR market estimates, such factors include the growing smartphone penetration, rising internet speed, growing need for efficient voice call services in telecommunication sectors, increasing adoption of video conferencing, instant file transmission services by enterprises, increasing need for mobile enterprises for mobile and cloud UC, increasing need for more reliable and richer voice services, and declining revenue of SMS and traditional voice calling due to new upcoming technologies and cheaper internet packs.

On the contrary, high cost of calls, COVID-19 impact, lack of technical expertise, lesser availability of VoLTE enabled devices, and lack of carrier inter-operability may limit the global voice over LTE market growth over the forecast period.

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Market Segmentation

The VoLTE Technology Market has been segmented into different industrial segments based on different criteria. The segmentation criteria are technology and devices. Based on the technologies, the sector is divided into Simultaneous Voice and LTE, Voice over IP Multimedia Subsystems and Circuit Switch Fall Back and single radio voice. According to devices, the segments are workstations, cell phones, tablets and others. The two industrial segments make a considerable contribution to the market revenue, and stakeholders employ research and development teams in these lines of segmentation. The other criterion of segmentation is a region which is given in detail in the next section.

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Regional Analysis

The VoLTE market is based in different regions and countries of the world. The major regional markets of the industry contribute to the collective revenue of the sector. The major regional segments of the market are Europe, North America, and Asia Pacific countries. The North American region will take the lead in production and revenue among the regional markets. A major reason for the growth of the market in North America will be the presence of major service providers in the area. The Asia Pacific market will also show significant growth over the next few years. Other regions will also show major trends of growth over the future years. Even the European region companies will show considerable growth over the next few years.

Key Players

The eminent players profiled in the global voice over LTE market report include LG Uplus Corporation (South Korea), Huawei Technologies Co. Ltd. (China), SK Telecom Co. Ltd. (South Korea), Rogers Communication (Canada), KT Corporation (South Korea), Alcatel-Lucent (France), Ericsson (Sweden), Nokia Corporation (Finland), AT&T Inc. (US),  and Verizon Wireless (US), among others.

The global voice over LTE market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.

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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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