Global research repository MarketStudyReport.com has added a new report to its ranks that analyzes the voice-over-LTE (News - Alert) (VoLTE) market. This report shows that the VoLTE market could grow as much as 50.1 percent between 2015 and 2022.
The new study, “World Voice Over LTE (VoLTE) Market – Opportunities and Forecasts, 2015-2022,” figures that the market could experience this compound annual growth rate of such a significant value because of the benefits it offers the market that improve on previous GSM and 3G CDMA mobile standards. Although the report admits that many telecommunications companies still prefer to use GSM and 3G CDMA for voice traffic, it also notes that 4G LTE offers data transfer speeds at more than 20 times what those previous-generation standards can generate. It can also offer more efficient battery use for end users.
Those benefits are expected to sway operators over the forecast period so much that they begin to use 4G LTE as their standard method of transmitting voice calls. Their uptick in 4G use could push that 50.1 percent growth to a point where the market witnesses annual revenue generation of $34.8 billion.
The benefits for operators and end users do not end there. VoLTE promises more reliability and clarity in its call handling, so users can expect clearer calls while also witnessing a smaller footprint in data use. Operators will also be keen to witness a smaller footprint – with VoLTE offering a data capacity six times greater than 2G and three times greater than 3G – which will help them bring more users onto their existing networks without having to outfit systems with expensive upgrades. The 4G system itself will be able to handle a higher load of users than a comparable setup of past mobile equipment.
Although some markets will expand more quickly than others, the proliferation of VoLTE is expected to become a global phenomenon. Geographic regions from the Americas to Asia are expected to benefit from this growth. Furthermore, various segments of the overall VoLTE standard, including its integration with the IP multimedia subsystem, use of simultaneous voice and generic access network, and use of single radio voice continuity should all see growth as part of the whole.
Edited by Alicia Young