Increase in demand for improved video and voice quality along with high-speed internet, presence of leading VoLTE market players in Asia-Pacific, and surge in investment in VoLTE have boosted the growth of the Asia-Pacific voice over LTE market.
However, delayed acceptance in developing economies hinders the market. On the contrary, the advent of 5G and surge in demand for mobile UC would open new opportunities in the future.
By type, the voice over IP multimedia subsystem segment held the largest share in 2020, accounting for nearly two-fifths of the voice over LTE industry, as it is lower-cost network infrastructure as compared to other networks.
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However, the voice over LTE via generic access network segment is projected to register the highest CAGR of 50.7% during the forecast period, as it allows smooth transition of global roaming.
By end user, the commercial segment is estimated to portray the highest CAGR of 49.8% during the forecast period. This is due to rise in awareness about improved customer services and quality of voice services. However, the corporate segment held the largest share in 2020, contributing to nearly two-thirds of the market, owing to rise in need to enhance customer satisfaction and provide solutions at lightning speeds.
By country, the market across China dominated in 2020, accounting for nearly half of the market. This is due to the presence of high number of subscribers of mobile phones. However, the market across India is projected to manifest the highest CAGR of 52.0% during the forecast period, due to penetration of LTE smartphone makers such as Samsung and Huawei.
Covid-19 scenario:
- The Covid-19 pandemic had a limited impact on the market as several private companies and government worked together to speed up the development of 5G and VoLTE infrastructure during the pandemic.
- The pandemic encouraged companies and businesses to shift their business operations on the cloud and adopt work from home culture, which increased the demand for high internet speed. This favored market growth.
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