Voice Over LTE (VoLTE) Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 43.69 Billion |
| Market Size (2029) | USD 378.38 Billion |
| CAGR (2024 - 2029) | 54.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Voice Over LTE (VoLTE) Market Analysis
The Global VoLTE Market size is estimated at USD 43.69 billion in 2024, and is expected to reach USD 378.38 billion by 2029, growing at a CAGR of 54% during the forecast period (2024-2029).
Voice over LTE (VoLTE) enables wireless operators to deliver a new set of standards-based services called 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.
- Due to technology, network operators may now offer high-quality voice, message, and video services. Additionally, it allows for greater spectrum efficiency and will enable operators to send speech services across data networks in small packet sizes, which lowers maintenance and operational expenses. Additionally, the technology allows the operators to make the most of their IMS infrastructure and maximize spectrum efficiency, enhancing the value of their current voice services. The availability of new standards based on services like Rich Communication Services thanks to technology RCS offers video, voice mail, instant messaging, real-time language translation, and video calling. Compared to competing VoIP programs, the rich communication features shorten the time it takes for VoLTE calls to connect and increase battery life.
- 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 HD quality and offer a much richer experience and fast, reliable, and richer services altogether to switch to VoLTE. Such development is impossible without testing and monitoring solutions supporting the development of core network elements and the networks throughout the entire lifecycle.
- VoLTE is more than just a 4G technology. Since there is no CSFB of voice from 5G, the future of operator-provided voice services rests on IMS technology as the only standardized option. VoLTE launches will be boosted by 5G network rollout over the next five years, allowing the launch of Vo5G services. By 2025, the GSMA predicts that approximately 400 operators will deliver commercial VoLTE services.
- 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 and substantial changes in usage patterns, as social isolation impacts how much consumers use their phones and their purpose for 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 compared to 2019.
Voice Over LTE (VoLTE) Market Trends
This section covers the major market trends shaping the VoLTE Market according to our research experts:
Increasing Demand for High-Speed Internet is Driving the Voice Over LTE (VoLTE) Market
- According to Cisco Systems, In comparison to 2019, the average speed increased by over 40% to 50.8 Mbps in 2020. It is projected to reach 58.9 Mbps in 2021, up another 16% from 2020. Voice over LTE (VoLTE) is a digital packet technology that routes voice traffic and transmits data across 4G LTE networks. This voice service is the industry standard for high-speed wireless communications in gadgets like smartphones, data terminals, Internet of Things (IoT) devices, and wearables.
- In June 2022, The Biden administration announced Thursday that it would allocate more than USD 400 million in loans and grants to promote high-speed internet initiatives for rural regions. The cash is anticipated to benefit around 31,000 individuals and companies across 11 states. Such initiatives by the government will drive the studied market.
- Further, in June 2022, The prime minister of India suggested the rest of the world invest in India and take advantage of the potential in the digital and technology sectors by stating that the government is trying to bring high-speed internet to every community. They referred to the current era as one of technology. They emphasized the advantages of technology as seen during the epidemic, saying it is crucial to make even more investments in innovation and technology.
- 5G, characterized as Enhanced Mobile Broadband (eMBB), is expected to improve mobile internet users' higher speeds and experience in dense or high mobility environments. It will support high-bandwidth services such as Virtual Reality (VR), Augmented Reality (AR), and apps. 5G will enable Massive Machine-type Communications (mMTC) and will allow the connection of many connected devices, which comprise the Internet of Things (IoT).
- 5G connection is expected to add multiple layers of complexity to the spectrum due to the all-inclusive nature of services. Limited spectrum availability is a big challenge in the development of 5G. The bandwidths requirements of 5G mean a higher frequency spectrum would be fundamental in delivering high-speed, high-quality connectivity.
Asia-Pacific to Account for Significant Market Share
- The Asia-pacific region will have 370 million new mobile subscribers by 2025. According to Ericsson, it is estimated that in 2024, Asia-Pacific will continue to dominate in the number of Voice over LTE subscriptions. In Asia-Pacific, the number of subscriptions is 3480.08 million, with a second spot taken up by Europe, with the number of subscriptions being 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 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 the middle of the next decade, accounting for 70% of connections by 2025.
- According to the GSMA, almost 200 million new customers will be added by 2025, bringing the total number of subscribers to 1.8 billion (62% of the population). South Asia will account for a large portion of the growth, with India accounting for more than half of the new users by 2025. Over 333 million individuals in the region will use mobile internet for the first time by 2025, bringing the overall penetration rate to 52%.
- Also, Asia-Pacific has the highest number of VoLTE operators and subscribers. Mobile network providers such as Vodafone, Airtel, Reliance Jio, Digi, U Mobile, Yes 4G, and Dialog have ventured into 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.
Voice Over LTE (VoLTE) Industry Overview
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.
- June 2022 - VoLTE roaming is made possible for Pixel handsets across various networks. Google intends to prevent any connectivity concerns consumers may see when U.S. carriers phase down their 3G networks by enabling supported VoLTE roaming on Pixel smartphones.
- May 2022 - Reliance Jio has begun testing the compatibility of 4G Voice over Long Term Evolution (VoLTE) and 5G Voice over New Radio (VoNR) to expand its capabilities. A 5G core has been put into the company's enhanced 4G VoLTE network. The business can now test if 5G VoNR and 4G VoLTE can work together.
Voice Over LTE (VoLTE) Market Leaders
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AT&T Inc.
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Verizon Wireless
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Vodafone Group PLC
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Bharati Airtel Limited
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Bell Canada
*Disclaimer: Major Players sorted in no particular order
Voice Over LTE (VoLTE) Market News
- July 2022 - Emporia Telecom has improved its selection of 4G devices by adding several appealing new styles that use VoLTE technology and are enabled with core simplicity. Customers who now use 3G feature phones will be able to purchase a similar device to keep making calls once the UK's 3G network is decommissioned, mainly in 2023.
- June 2022 - T-Mobile US began offering commercial voice services across its standalone (5G RAN) core in two markets, indicating a rising trend among carriers to combine their network traffic. The innovation enables compatible devices in certain regions to maintain voice and data sessions over the carrier's 5G network. The service may speed up call setup times, according to the carrier, but the main value will come from being able to now incorporate phone services as part of its network slicing capabilities.
Voice Over LTE (VoLTE) Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants
- 4.2.2 Bargaining Power of Buyers/Consumers
- 4.2.3 Bargaining Power of Suppliers
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Industry Value Chain Analysis
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4.4 Market Drivers
- 4.4.1 Increasing Demand for High-speed Internet & Quality Services
- 4.4.2 Upgradation of Government Sectors due to Rapid Pace Urbanization
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4.5 Market Restraints
- 4.5.1 Lack of Awareness and Slow Adoption in Under Developed Countries
5. VOLTE LAUNCHES BY COUNTRY
6. IMPACT OF COVID-19 ON THE VOICE OVER LTE (VOLTE) MARKET
7. TECHNOLOGY SNAPSHOT
- 7.1 Voice Over IP Multimedia Subsystem (VOIMS)
- 7.2 Circuit Switched Fall Back (CSFB)
- 7.3 Dual Radio/Simultaneous Voice and LTE (SVLTE)
- 7.4 Voice Over LTE Via Generic Access Network (VOLGA)
- 7.5 Single Radio Voice Call Continuity (SRVCC)
8. BREAKDOWN FOR VOLTE CONNECTION/ PENETRATION BY COUNTRY (2018-2020)
- 8.1 United States
- 8.2 Canada
- 8.3 United Kingdom
- 8.4 Germany
- 8.5 China
- 8.6 Japan
- 8.7 South Korea
9. MARKET SEGMENTATION
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9.1 End-user Industry
- 9.1.1 Corporate
- 9.1.2 Commercial
- 9.1.3 Government
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9.2 Geography
- 9.2.1 North America
- 9.2.2 Europe
- 9.2.3 Asia-Pacific
- 9.2.4 Latin America
- 9.2.5 Middle East & Africa
10. COMPETITIVE LANDSCAPE
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10.1 Company Profiles
- 10.1.1 AT&T Inc.
- 10.1.2 Verizon Wireless
- 10.1.3 SK Telecom Co. Ltd
- 10.1.4 Bell Canada
- 10.1.5 Vodafone Group PLC
- 10.1.6 Reliance Jio Infocomm Limited
- 10.1.7 Bharati Airtel Limited
- 10.1.8 KT Corporation
- 10.1.9 Orange SA
- *List Not Exhaustive
11. INVESTMENT ANALYSIS
12. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityVoice Over LTE (VoLTE) Industry Segmentation
Voice over Long-Term Evolution ( VoLTE) is a digital packet voice service that uses IMS technology for high-speed wireless communication for mobile phones, data terminals, IoT devices, and it is delivered over IP via an LTE access network. The market scope for this study consists of different end-user industries and their adoption trends of VoLTE technology. The market study also focuses on the impact of COVID-19 on the market ecosystem.
The Global Voice Over LTE (VoLTE) Market is Segmented, by End-user Industry (Corporate, Commercial, Government), and Geography.
| End-user Industry | Corporate |
| Commercial | |
| Government | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East & Africa |
Voice Over LTE (VoLTE) Market Research FAQs
How big is the Global VoLTE Market?
The Global VoLTE Market size is expected to reach USD 43.69 billion in 2024 and grow at a CAGR of 54% to reach USD 378.38 billion by 2029.
What is the current Global VoLTE Market size?
In 2024, the Global VoLTE Market size is expected to reach USD 43.69 billion.
Who are the key players in Global VoLTE Market?
AT&T Inc., Verizon Wireless, Vodafone Group PLC, Bharati Airtel Limited and Bell Canada are the major companies operating in the Global VoLTE Market.
Which is the fastest growing region in Global VoLTE Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global VoLTE Market?
In 2024, the North America accounts for the largest market share in Global VoLTE Market.
What years does this Global VoLTE Market cover, and what was the market size in 2023?
In 2023, the Global VoLTE Market size was estimated at USD 28.37 billion. The report covers the Global VoLTE Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global VoLTE Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
VoLTE Industry Report
Statistics for the 2024 VoLTE market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. VoLTE analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
