IP Multimedia Subsystem Market Size
The global IP Multimedia Subsystem market share was dominated by the product and is expected to maintain its dominance in the upcoming years.
PORTLAND, PORTLAND, OR, UNITED STATE, July 19, 2024 /
EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, Global
IP Multimedia Subsystem Market “Component and Operators: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global IMS market size was valued at $2.1 billion in 2020, and is projected to reach $7.29 billion by 2030, registering a CAGR of 13.5% from 2021 to 2030.
The worldwide COVID-19 pandemic has resulted in increased traffic on global telecommunications networks in the past year. This was due to business enterprises being forced to transition to remote working modes, as well as educational institutions being forced to transition to remote teaching/learning models to ensure people's safety and slow the spread of the virus during the period, resulting in a strong dependence on telecommunication networks. According to AMR, The Indian telecom market grew by more than 16% by the middle of 2020, and similar trends were observed in other parts of the world, as telecom consumers increasingly relied on telecommunication networks to continue their education/jobs requirements while maintaining the imposed home isolation.
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Rise in data traffic in global cellular networks and development in global cellular network infrastructure fuel the global IP multimedia subsystem market. On the other hand, longer deployment time for telecommunication infrastructure, high cost of installation, and maintenance of telecommunication equipment hinder the market. On the contrary, development in the field of telecom and rapid transformation of the telecommunications industry creates several lucrative opportunities.
North America is expected to be the largest market share of the IP Multimedia Subsystem, during forecasted period. Major telecom giants are making North America home. Network companies are implementing new applications for their networks, such as RCS, private LTE, and wireless broadband. IMS services allow devices such as smartphones and laptops to access services across a wide range of networks, including mobile phones, broadband, Wi-Fi, and more. People are embracing multimedia applications to improve their communication in response to the increasing use of smartphones in the United States. These factors are driving the growth of the market. Moreover, political authorities are emphasizing the development of current communication networks with the ability to access the 5G network, which provides opportunities for IMS market growth
These trends drove the telecommunication companies to increase their investments IP Multimedia Subsystem market analysis during the period.
In 2020, the global IP multimedia subsystem market share was dominated by the product, and is expected to maintain its dominance in the upcoming years. This is due to mobile operators using a wide range of IMS solutions to provide a variety of applications, including Voice over LTE (VoLTE), Voice over Wireless Fidelity (VoWiFi), Rich Communication Services (RCS), and Integrated Communications-as -a -a -Service (UCaaS).
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Within the IMS industry, service segment is estimated to emerge as fastest-growing segment, the growing demand for VoLTE and LTE services and global standards for network infrastructure and services are the drivers for the IMS industry. Demand for music and video-on-demand services has also increased due to changes in customer preferences, improved internet speeds and the proliferation of smartphones. In addition, 5G is expected to launch new utility cases such as smart cities, smart agriculture, logistics and public security agencies.
Post-COVID-19, the size of the Global IP Multimedia Subsystem Market forecast is estimated to be $2.61 billion in 2022, and is projected to reach $7.29 billion by 2030. With COVID cases on the rise around the world, many businesses enterprises and even governmental organizations were forced to implement remote working policies in their regular day-to-day operations to reduce the spread of the coronavirus during the period. This, combined with schools and educational institutes also adapting to remote learning modes, resulting in a rapid surge in telecom network traffic in many regions, and telecom operators in such locations relied on IP Multimedia Subsystem (IMS) to ensure seamless operations during the period.
These factors aided the IP Multimedia Subsystem (IMS) market growth during the period of lockdown and the market is expected to grow further in the coming years as well.
Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to lead during the forecast period. The global IP multimedia subsystem market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 15.5% during the forecast period.
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Key players of the global IP multimedia subsystem industry analyzed in the research include Athonet srl, Cisco Systems, Inc., NEC Corporation, Cirpack, Ericsson, Huawei Technologies Co., Ltd., Oracle Corporation, Huawei Technologies Co., Ltd., International Business Machines Corporation, ZTE Corporation, and Nokia.
Key Findings Of The Study:
1. By component, in 2020 the product is estimated to be the major shareholder. However, services are expected to witness the highest growth rate during the forecast period.
2. Based on operators, the mobile operators segment accounted for the highest revenue in 2020, however, the fixed operator segment is expected to witness highest growth rate during the forecast period.
3. Region wise, the IMS market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
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