Voice over LTE Market by Technology (Voice over IP Multimedia Subsystem, Circuit Switched Fallback, and Dual Radio or Simultaneous Voice and LTE) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
Voice over LTE Market Outlook 2031:
The global voice over LTE market size was valued at USD 34.8 Billion in 2022 and is projected to reach USD 1.34 Trillion by 2031, expanding at a CAGR of 50.1% during the forecast period 2023 - 2031. The growth of the market is attributed to the increase in the use of high-speed internet.
Voice over LTE (VoLTE) is a communication technology that enables voice and video call services using over an LTE network or a 4G network. The technology allows data transmission using IP-based network and ensures effective functioning of the data capabilities of LTE. It offers both voice and data service to merge that results in better quality and efficiency of communication.
Using this technology, network operators can offer various services such as a voice call, messaging, and video call. It also empowers the operators to use data network for transmission of voice services to increase spectrum efficiency that will result in reducing the operational and maintenance costs.
The technology further enables the operators to optimize their IMS infrastructure and allows to provide a new set of standards on the basis of services such as rich communication services (RCS). The RCS as a new technique has several advantages in assisting video calling, real time language translation, voice mail, and instant messaging. Additionally, it ensures faster connection time for VoLTE calls and enhances the battery life as compared to other VoIP applications.
VoLTE technology provides provisions for faster call setup times, true device interoperability, high definition (HD) voice and RCS. HD voice technology provides clear audio output and minimize the background noise much better as compared to standard voice calls. Furthermore, VoLTE technology uses IMS call control for LTE voice services. IMS provides voice services including calling line identification, call terminating, and other extended services such as advanced multimedia and value-added services. The requirement of a new spectrum is eliminated by the reuse of 2G & 3G spectrum. Moreover, optimization of network and simplification of service delivery help to reduce the overall cost.
Voice over LTE Market Drivers, Restraints, Trends, and Opportunities
- Rapid growth in spectrum efficiency and higher data transmission capacity are anticipated to fuel the voice over LTE market growth during the forecast period.
- Reduction of latency coupled with lowering the operational and maintenance cost are key factors driving the market growth.
- Increase in the adoption of VoLTE services by several telecom operators is projected to spur the voice over LTE market growth during the forecast period.
- Lack of carrier inter-operability and marginal availability of VoLTE enabled devices are projected to boost the VoLTE Market.
- Advancement of innovative technology in VoLTE create several favorable services for both subscribers and mobile network operators. This is expected to fuel the voice over LTE market growth during the forecast period.
- Rapid expansion of the telecom industry and wide introduction of higher bandwidth and greater speed communication networks are projected to boost the voice over LTE market expansion.
- The COVID-19 pandemic has adversely affected the appliances market. Shortage of manufacturing material, health safety challenges, and labor shortage are some of the challenges restraining the market growth.
Scope of Voice over LTE Market Report
The report on the global voice over LTE market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Voice over LTE Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Technology (Voice over IP Multimedia Subsystem, Circuit Switched Fallback, and Dual Radio or Simultaneous Voice and LTE) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Nokia Solutions & Networks, Huawei Technologies Co. Ltd., AT&T Inc, Alcatel-Lucent, Ericsson, Metro PCS, LG Uplus, Verizon Wireless, SK Telecom, and KT Corporation. |
Global Voice over LTE Market Segment Insights
VoIMS segment is expected to represent a considerable market share
On the basis of technology, the voice over LTE market share is segmented into voice over IP multimedia subsystem (VoIMS), circuit switched fallback, and dual radio or simultaneous voice and LTE (SVLTE). The VoIMS segment is expected to represent a considerable market share during the forecast period.
The growth of the technology can be attributed to the wide use of the technology in several industry verticals across the globe. A shift towards network strategy, which includes network capacity and interoperability is expected to drive the segment growth during the forecast period. Emerging economies are shifting towards the LTE coverage and VoLTE is projected to improve a significant part of the network architecture.
Asia Pacific is projected to constitute a significant market share
In terms of regions, the voice over LTE market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to constitute a significant market share during the forecast period owing to the increasing number of mobile subscriptions in this region. According to a source, there are approximately 4.4 billion mobile subscriptions in Asia Pacific.
Additionally, this region has a large number of VoLTE subscribers and operators. The rising consumer spending and increase in need for high-speed data have encouraged the operators in the region to offer VoLTE services. The mobile network providers such as Vodafone, Airtel, Reliance Jio, Digi, U Mobile, Yes 4G, and Dialog have started offering the VoLTE technology and are heavily investing in this technology to enhance their services. Emerging economies such as China and India have a large number of consumers for the VoLTE market.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Voice over LTE Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Voice over LTE Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Voice over LTE Market - Supply Chain
4.5. Global Voice over LTE Market Forecast
4.5.1. Voice over LTE Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Voice over LTE Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Voice over LTE Market Absolute $ Opportunity
5. Global Voice over LTE Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Voice over LTE Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Voice over LTE Demand Share Forecast, 2019-2026
6. North America Voice over LTE Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Voice over LTE Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Voice over LTE Demand Share Forecast, 2019-2026
7. Latin America Voice over LTE Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Voice over LTE Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Voice over LTE Demand Share Forecast, 2019-2026
8. Europe Voice over LTE Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Voice over LTE Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Voice over LTE Demand Share Forecast, 2019-2026
9. Asia Pacific Voice over LTE Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Voice over LTE Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Voice over LTE Demand Share Forecast, 2019-2026
10. Middle East & Africa Voice over LTE Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Voice over LTE Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Voice over LTE Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Voice over LTE Market: Market Share Analysis
11.2. Voice over LTE Distributors and Customers
11.3. Voice over LTE Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Nokia Solutions & Networks
11.4.2. Huawei Technologies Co. Ltd.
11.4.3. AT&T Inc
11.4.4. Alcatel-Lucent
11.4.5. Ericsson
11.4.6. Metro PCS
11.4.7. LG Uplus
11.4.8. Verizon Wireless
11.4.9. SK Telecom
11.4.10. KT Corporation.