High definition or wideband voice extends the audio signal frequency range for higher quality speech. It provides better audio experience to the VoIP communication, which is one of the major driving factors for the adoption of this technology. These services are rapidly being adopted to match the business telephone systems across different industrial verticals. According to the latest reports, rising demand and rapidly advancing technologies are expected to be the major driving factors for the HD voice market. the market is expected to witness impressive growth over the next few years with strong business opportunities from the emerging regions like Asia Pacific and Middle East and Africa.
High Definition Voice Market Segmentation
Researchers segment the global HD voice market on the basis of the types of applications, access and users. Apart from that, they also segment the market on the basis of the demand patterns for the key players across different geographic regions. The basic types of access are categorized into broadband and mobile access. Basic application segments in the market include announcement services, audio broadcast, web, video and audio conferencing and multimedia conferencing. Consumers and enterprises are the basic types of users in the market. Major geographic regions in the market include Asia Pacific, Latin America, North America, Middle East and Africa and Europe. Analysis of all these segments provides details about the latest growth trends, revenue forecasts and challenges for the established as well as potential players in the market.
Market Drivers and Restraints
According to the experts, rising demand and adoption across different industrial verticals are the major driving factors for the global HD voice market. Growth in the adoption of voice over LTE and changed voice usage models are also expected to drive the demand in this market over the next few years. Growth in the support of WEBRTC is also expected boost the business opportunities in this market. Rising demand and rate of adoption from the small and medium businesses is also considered to be a major driving factor for this market. Major restraints for the market include limited connectivity and accessibility and strong growth of the OTT players. Lack of Codec and rising investments are also expected to hinder the growth of this market. However, disparity of services and lower infrastructure development cost is expected to dominate the global market.
According to the latest research reports, the global HD voice market is expected to grow at a steady CAGR of over 23% from 2014 to 2019. At the anticipated growth rate, the market is estimated to be worth $2,296.6 million by the end of the year 2019.