Voice over LTE (VoLTE) Market growing at a CAGR of 50.7% from 2023 to 2030

Key Market Overview

The voice over LTE (VoLTE) market is poised for strong expansion and is expected to reach USD 940.1 Billion by 2030. The market was sized at USD 37.8 Billion in 2022 and is projected to grow at a compound annual growth rate of 50.7% during the period 2023-2030.

The report highlights the increasing adoption of voice over LTE (VoLTE) owing to the ability to deliver high-definition (HD) voice quality by reducing background noise. Consegic Business Intelligence provides an inclusive research report on the voice over LTE (VoLTE) market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Voice over LTE (VoLTE) Market By Overview

Consegic Business Intelligence provided an inclusive research report on the voice over LTE (VoLTE) market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. Circuit Switch Fall Back (CSFB) segment is anticipated to witness the fastest CAGR in the voice over LTE market during the forecast period. CSFB enables seamless migration from circuit-switched networks to VoLTE by utilizing the existing circuit-switched infrastructure. Additionally, CSFB allows LTE networks to switch to 2G or 3G networks for voice services, ensuring compatibility and uninterrupted voice communication during the transition phase. Consequently, the aforementioned factors are collectively responsible in propelling the market growth during the forecast period.

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Market Dynamics

Driver:

Improved high-definition voice quality offered by voice over LTE (VoLTE) is driving the market growth.
Emergence of 5G networks offering seamless communication is accelerating the growth of the voice over LTE market.
Increasing adoption of voice over LTE to offer superior voice quality and clarity, essential for corporate communication is propelling the market growth.

Restraints:

Limited network infrastructure of LTE in underdeveloped countries is restraining the growth of the VoLTE market.
Regulatory and spectrum restrictions associated with LTE networks are limiting the adoption of voice over LTE technology.

Market Segmentation:

Report Attributes	Report Details
By Device	Smartphones, Laptops, Wearables, Tablets, and Routers
By Technology	Voice Over IP Multimedia Subsystems (VoIMS), Circuit Switch Fall Back (CSFB), Simultaneous Voice and LTE (SVLTE), Single Radio Voice Call Continuity (SRVCC), and Voice Over LTE via Generic Access Network (VOLGA)
By End-User	Commercial, Government, and Corporate
By Region	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The landscape for Voice over LTE (VoLTE) Market is highly competitive with major players including AT&T Inc., Bell Canada, Bharati Airtel Limited, and D2 Technologies that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the voice over LTE (VoLTE) market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.

AT&T Inc.
Bell Canada
Bharati Airtel Limited
D2 Technologies
Grameenphone Limited
Huawei Technologies Co. Ltd.
Mitel Networks Corporation
Nokia Corporation
SUMA móvil (Grupo Ingenium Tecnología)
Telefonaktiebolaget LM Ericsson
Vodafone Idea Limited

Global Voice over LTE (VoLTE) Market growing at a CAGR of 50.7% from 2023 to 2030