Voice Over LTE (VoLTE) Market Report 2024 | Growth and Forecast by 2032

Global Voice Over LTE (VoLTE) Market Statistics: USD 729.3 Billion Value by 2032

Summary:

• The global voice over LTE (VoLTE) market size reached USD 15.2 Billion in 2023.

• The market is expected to reach USD 729.3 Billion by 2032, exhibiting a growth rate (CAGR) of 52.6% during 2024-2032.

• Asia Pacific leads the market, accounting for the largest voice over LTE (VoLTE) market share.

• On the basis of the technology, the market has been divided into voice over IP multimedia subsystem (VoIMS), circuit switched fall back (CSFB), dual radio/simultaneous voice and LTE (SVLTE), voice over LTE via generic access network (VOLGA), and single radio voice call continuity (SRVCC).

• Based on the device type, the market has been categorized smartphones, routers, wireless modems, and others.

• On the basis of the end use industry, the market has been segmented into corporate, commercial, and government.

• The rising demand for high-quality voice services is a primary driver of the voice over LTE (VoLTE) market.

• Technological advancements and 4G and 5G network expansion are reshaping the voice over LTE (VoLTE) market.

Industry Trends and Drivers:

• Growing demand for high-quality voice services:

VoLTE offers high-definition (HD) voice quality that provides clearer, crisper sound compared to traditional 2G and 3G voice services. The wider audio bandwidth used in VoLTE captures more sound nuances, reducing background noise and distortion. This significant improvement in call clarity appeals to both consumers and businesses, fueling the adoption of VoLTE services. Traditional voice calls on 2G and 3G networks require a switch between voice and data services, which can interrupt internet browsing or app usage during calls. VoLTE enables simultaneous use of voice and high-speed data over the same LTE network, ensuring that users can continue accessing apps, video streaming, or web browsing without disruption during calls. This enhances the user experience, particularly for professionals and mobile workers.

• Increasing smartphone adoption:

The majority of new smartphones are equipped with VoLTE capabilities by default, allowing users to take advantage of VoLTE services without needing additional hardware or apps. As global smartphone penetration rises, particularly in developing regions, the number of VoLTE-ready users also increases. This growing user base drives demand for VoLTE services as people upgrade to smartphones that support high-quality voice calls over LTE networks. As smartphone users transition from older 2G/3G devices to more advanced 4G and 5G smartphones, they are naturally inclined to adopt VoLTE services, which are specifically designed for LTE and next-generation networks. This shift in consumer behavior, fueled by the availability of affordable smartphones, accelerates VoLTE adoption. As 2G and 3G networks are phased out, consumers are further incentivized to switch to LTE-enabled phones that support VoLTE.

• 4G and 5G network expansion:

The rollout of 4G and 5G networks provides the necessary infrastructure for VoLTE services. Telecom operators are investing heavily in enhancing their network capabilities to support high data speeds and lower latency. As these networks expand, they create a solid foundation for delivering VoLTE, which relies on LTE technology for voice calls. 4G and 5G networks offer greater reliability and better coverage compared to older network technologies. With reduced dropped calls and improved call quality, users are more likely to adopt VoLTE services as their primary means of voice communication. The reliability of these networks enhances user trust and satisfaction in VoLTE.

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Voice Over LTE (VoLTE) Market Report Segmentation:

Breakup By Technology:

• Voice Over IP Multimedia Subsystem (VoIMS)

• Circuit Switched Fall Back (CSFB)

• Dual Radio/Simultaneous Voice and LTE (SVLTE)

• Voice Over LTE Via Generic Access Network (VOLGA)

• Single Radio Voice Call Continuity (SRVCC)

On the basis of the technology, the market has been divided into voice over IP multimedia subsystem (VoIMS), circuit switched fall back (CSFB), dual radio/simultaneous voice and LTE (SVLTE), voice over LTE via generic access network (VOLGA), and single radio voice call continuity (SRVCC).

Breakup By Device Type:

• Smartphones

• Routers

• Wireless Modems

• Others

Based on the device type, the market has been categorized smartphones, routers, wireless modems, and others.

Breakup By End Use Industry:

• Corporate

• Commercial

• Government

On the basis of the end use industry, the market has been segmented into corporate, commercial, and government.

Breakup By Region:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa

Asia Pacific enjoys the leading position in the VoLTE market due to its rapid mobile network expansion, high smartphone penetration, and strong demand for high-quality voice services among its large population, particularly in countries like China, India, and South Korea.

Top Voice Over LTE (VoLTE) Market Leaders:

The voice over LTE (VoLTE) market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Bell Canada (BCE Inc.)

• Bharati Airtel Limited

• D2 Technologies

• Huawei Technologies Co. Ltd.

• Mitel Networks Corporation

• Nokia Corporation

• Telefonaktiebolaget LM Ericsson

• T-Mobile USA Inc. (Deutsche Telekom AG)

• TPG Telecom Limited

• Verizon Communications Inc.

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