Voice over LTE is considered to be a strategic solution for the long term evolution (LTE). These services make use of IMS call controls that offer legacy voice services like call termination, origination and identification. The LTE services offer greater spectral efficiency than 3G/HSPA and GSM technologies. These services enable the operators to deliver rich communication services to maximum consumers. Growing demand for smart devices and technological advancements in the existing services are considered to be the major driving factors for the global voice over LTE market. According to the experts, emerging markets are expected to create strong business opportunities for the global players in the years to come.
Scope of Research – Segmentation
Researchers categorize the global voice over LTE market into different segments and sub-segments based on the types of technologies, end-user devices, and demand across different geographic regions. The types of technologies in the VoLTE market include frequency division duplexing (FDD) and time division duplexing (TDD). Major segments in the market include Circuit Switched Fallback (CSFB), Dual Radio or Simultaneous Voice and LTE (SVLTE) and Voice over IP Multimedia Subsystem (VoIMS). End-user devices in the market are categorized into routers, smartphones, tablets, phablets, dongles, modules, notebooks and such other smart devices. Geographic regions of the market include Americas, APAC, Europe and rest of the world.
Drivers & Restraints for the Industry
Major drivers for the voice over LTE market include rapid deployment and strong penetration of the smart devices around the world and increased efficiency of spectrum. Both these factors are motivating the telecommunication operators to adopt the LTE services. Reduced maintenance and operational costs are also expected to drive the demand in this market during the next few years. Faster call setup time and increased adoption volte are also expected to drive the growth in this market during the next few years to come. According to the researchers, no carrier interoperability and less availability of volte enabled devices are expected to be the key restraints for the market. However, growing demand for mobile devices and smart devices, network function virtualization and virtualized multitenant models are expected to create business opportunities in the VoLTE market.
According to the latest research reports, voice over LTE market is expected to grow at a steady CAGR of over 64% from 2014 to 2020. At the projected exponential growth rate, it is expected to become worth $6,624.04 million by the end of the forecasting period, in the year 2020. The CSFB technology is expected to dominate the global market in terms of the overall share. Based on the geographic regions, the Americas segment is expected to dominate the global LTE market. Asia Pacific on the other hand is expected to be the leader in the VoLTE market during the forecasting period.