The Voice Over LTE (VoLTE) market was valued at USD 3.7 billion in 2019 and is expected to reach USD 133.57 billion by 2025, at a CAGR of 56.57% over the forecast period 2022 – 2031. Voice over LTE (VoLTE) enables wireless operators to deliver a new set of standards-based services, referred to as Rich Communications Services. These services include video calling, file transferring, real-time language translation, video voicemail, and instant messaging. The increase in the use of high-speed internet is expected to drive the VoLTE market in the forecast period.
– Although Voice over IP or VoIP created the market for sending voice over the internet, Voice over LTE is expanding, and carriers/telecom network providers are undergoing digital transformation to enable a better experience for users of the technology.
– The increasing demand for improved voice and video quality and high-speed internet is driving the adoption of VoLTE services. The growing demand for high-speed data increases competition among the operators for the best mobile broadband offering, with the highest speeds and the best coverage.
– The benefit of VoLTE is that the quality of the call is better than 2G and 3G connections because of the high data transfer rate over the medium/channel. The voice calls are in HD quality and offer a much richer experience along with fast, reliable, and richer services altogether to switch to VoLTE. Such development is impossible without test and monitoring solutions that have supported the development of core network elements and the networks throughout the entire lifecycle.
– According to the Global mobile Suppliers Association (GSA), 194 operators in 91 countries have launched commercial VoLTE services that support high-definition (HD) voice, and 262 operators are investing in VoLTE in 120 countries, which is up from 253 operators earlier in 2019. Further, the rollout of voice-over-LTE (VoLTE) continues, with a leading Indonesian player joining the growing number of operators offering LTE-based voice calls to its subscribers. Telkomsel announced in June 2020 that it soft-launched its VoLTE service. The new service is accessible to around 114,000 Telkomsel customers in the Jabodetabek area (Jakarta, Depok, Tangerang, Bekasi) and Surabaya, with other regions to follow in due course.
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– However, the COVID-19 pandemic is impacting markets in every segment of the economy, and smartphones are no exception. The smartphone industry has seen production disruptions as well as substantial changes in usage patterns, as social isolation impacts how much consumers use their phones and their purpose of using smartphones. This has led to the low subscription of smartphones during a pandemic. As a result of the pandemic, the annual mobile services revenue is expected to drop by 4.1% by 2020 end, compared to 2019.
Key Market Trends
Increasing Demand for High-Speed Internet is Driving the Voice Over LTE (VoLTE) Market
– Voice over LTE(VoLTE) enables wireless operators to deliver a new set of standards-based services, referred to as Rich Communications Services (RCS). These services include things like video calling, file transferring, real-time language translation, video voicemail, HD calling, and instant messaging. The consumers have started getting dependent on these services. The demand for high-speed internet has increased exabytes of data that have been transferred every day from various types of devices like smartphones, tablets, laptops, and others, which therefore augment the growth of VoLTE across major developing economies.
– Technology providers are increasing the applications of VoLTE technology to support ongoing IoT adoption. For instance, Ericsson is set to broaden the reach of voice over LTE with the addition of the technology to LTE-M deployments. Through this addition, IoT devices would be empowered to support voice as well as data.
– Increasing demand in emerging Asian regions such as India among other countries is driving the market forward. Reliance Jio, followed by Vodafone, has been successful in promoting that VoLTE would become a standard service that is activated in new handset sales going forward.
Asia-Pacific to Account for Significant Market Share
– Asia-pacific region will have 370 million new mobile subscribers till 2025, and according to Ericsson, it is estimated that in 2024, Asia-Pacific will continue to hold its dominance in the number of Voice over LTE subscriptions. In Asia-Pacific, the number of subscriptions is 3480.08 million, with a second spot to be taken up by Europe, with the number of subscriptions is 949.81 million.
– Further, the mobile industry as a whole contributes an extensive amount to economic and social development, generating 5.3% of GDP in 2018, and is expected to surpass 1.9 trillion US dollars by 2023 as countries increasingly benefit from the improvements in productivity and efficiency brought about by the increased take-up of mobile services.
– Further, many developed markets, such as South Korea, Japan, and Australia, are keen to be global leaders in 5G, with much made about the potential of new innovative services and connected devices running on 5G networks. The rest of the region is more cautious. In many developing countries, 4G will still dominate out to the middle of the next decade, accounting for 70% of connections by 2025.
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– Also, Asia-Pacific has the highest number of VoLTE operators and subscribers. The mobile network providers such as Vodafone, Airtel, Reliance Jio, Digi, U Mobile, Yes 4G, and Dialog have ventured into the VoLTE technology. They are investing in this technology to provide better service. These factors will drive the growth of this geographic segment in the coming years.
Competitive Landscape
The voice over LTE (VoLTE) market is fragmented in nature and consists of a significant number of global and regional players. These players are focusing on expanding their customer base across the globe. These vendors are focusing on the research and development investment in introducing new solutions, strategic alliances, and other organic & inorganic growth strategies to earn a competitive edge over the forecast period.
– May 2020 – Globe Telecom of the Philippines announced to launch its Voice Over LTE (VoLTE) service along with Voice Over WiFi (VoWiFi) that aims to improve voice call experience for its customers. These services will initially be available in NCR and to selected customers this year. With the VoLTE technology in place, Globe customers, instead of relying on the older 3G to handle their calls, can now enjoy the advantage of a 4G LTE network. Calls made over VoLTE are clearer because of high-definition voice quality, especially if both parties are on VoLTE.
– May 2020 – Fibocom announced the launch of the world’s first LTE Cat 1 wireless module integrated with blockchain technology. Based on UNISOC 8910DM LTE Cat 1 bis chipset and Aitos’s BoAT (Blockchain of AI Things) framework, Fibocom L610 LTE Cat 1 cellular module innovatively combines IoT and blockchain, which is essentially valuable to the IoT industry in terms of scalability and security concerns.
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