IP Multimedia Subsystem Market to grow at a CAGR of 16.65% by 2026|Evolving Opportunities with Cisco Systems Inc. & Microsoft Corp. |17000+ Technavio Reports
NEW YORK, Dec. 1, 2021 /PRNewswire/ -- The IP multimedia subsystem market report by Technavio offers information on several market vendors, including Cisco Systems Inc., CommVerge Solutions Ltd., Huawei Investment and Holding Co. Ltd., Microsoft Corp., NEC Corp., Nokia Corp., Oracle Corp., Samsung Electronics Co. Ltd., Telefonaktiebolaget LM Ericsson, and ZTE Corp. among others. The IP multimedia subsystem market is set to grow by USD 28.11 billion from 2021 to 2026, progressing at a CAGR of 16.65% as per the latest report by Technavio.
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38% of the market's growth will originate from APAC. China, Japan, and India are the key markets for IP multimedia subsystem in APAC. Market growth in this region will be faster than the growth of the European market. The rapid evolution of advanced technologies and their increasing adoption will facilitate the IP multimedia subsystem market growth in APAC.
The IP multimedia subsystem market covers the following areas:
The IP multimedia subsystem market report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size.
The report identifies IMS solutions aid in reducing CAPEX and OPEX as one of the major factors driving the growth of the market. The telecom industry is facing a number of challenges, such as low returns on investment (ROI), massive legacy infrastructure, business transformation, stringent government regulations, and strong competition from peers and OTT players. The high cost of network implementation and increased competition compel telecom operators to reduce the heavy burden of their CAPEX and OPEX. IMS solutions are cost-effective and improve the network infrastructure and accelerate the launch of new services. However, increasing data security and privacy concerns are the key challenges for the global IP multimedia subsystem market.
The IP multimedia subsystem market analysis includes components (product and services) and geography (APAC, North America, Europe, South America, and MEA). The IP multimedia subsystem market share growth by the product segment will be significant for revenue generation. The high growth rate of the segment is attributed to the deployment of a wide range of IMS solutions by telecom operators, such as voice-over-LTE (VoLTE), voice-over-wireless fidelity (VoWiFi), rich communication services (RCS), and Unified communications-as-a-Service (UCaaS).
VoIP Market in UK -The VoIP market share in the UK is expected to increase by USD 4.83 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.08%. Download a free sample now!
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