VoWiFi Market Set to Witness Massive Growth in Coming Years: P&S Intelligence
NEW YORK, Sept. 1, 2020 /PRNewswire/ -- Due to the increasing number of Wi-Fi hotspots around the world, the global voice over Wi-Fi (VoWiFi) market is predicted to witness massive growth, of 24.5%, between 2020 and 2030. At this high CAGR, the industry size would increase from $2,035.3 million in 2019 to $22,801.2 million by 2030. From 124 million in 2017, the number of public community and wireless local-area network (LAN) hotspots is set to rise to 550 million by 2022, according to P&S Intelligence.
This will work as a growth factor for the VoWiFi market, as, with an increasing number of people being able to access wireless internet, the demand for voice over Wi-Fi services will rise. For instance, Asia-Pacific (APAC) is projected to have 261 million, Brazil 15 million, and the U.S. 77 million public hotspots by 2022.
The COVID-19 pandemic is fueling the advance of the VoWiFi market, as, with people confined indoors, the usage of Wi-Fi at homes is rising constantly. Moreover, a large number of companies have shifted to the work-from-home (WFH) model, which has further led to a greater usage of voice over Wi-Fi solutions, for better internet call connectivity and quality.
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The highest CAGR in the VoWiFi market, of 28.0%, will be experienced in the direct-access-based bifurcation, under segmentation by architecture, in the immediate future. This would be because this architecture can directly connect the devices of users to the IMS over the internet, via the usage of IP security (IPSec) tunnel to a security gateway.
In the past, the smartphones category, under the device type segment, dominated the VoWiFi market, due to the burgeoning uptake of such communication devices. In the coming years, APAC is set to account for a significant smartphone-using population; for instance, in 2019 itself, India/span> crossed the U.S. to become the second-largest smartphone market, with 158 million units shipped that year.
Browse detailed report with COVID-19 impact analysis on Voice Over Wi-Fi Market Research Report: By Voice Client (Integrated Voice Client, Separate Voice Client, Browser Voice Client), Technology (CSFB, VoLGA, IMS), Architecture (EPC-Based, Direct Access-Based), Device Type (Smartphones, Laptops and Tablets), End User (Residential, Commercial) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/voice-over-wifi-vowifi-market
Currently, the most productive VoWiFi market is North America, owing to the high number of users as well as higher per-customer-average revenue that service providers receive here. In the coming years, APAC is predicted to observe the fastest advance, to become the largest market by 2030. This is attributed to the rising demand for better connectivity and expanding area under internet coverage. Japan and South Korea account for the highest penetration of the VoLTE technology, while they, along with China, have also adopted VoWiFi fairly early.
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To expand their customer base and revenue channels, players in the VoWiFi market are engaging in agreements and partnerships, as these measures give them the opportunity to:
The major companies functioning in the global VoWiFi market are Telefonaktiebolaget LM Ericsson, AT&T Inc., Cisco Systems Inc., Oracle Corporation, KT Corporation, Nokia Corporation, Mitel Networks Corporation, Alcatel-Lucent S.A., Ribbon Communications US LLC, Huawei Technologies Co. Ltd., Claro (America Movil), Vodafone Group Plc, Orange SA, T-Mobile USA Inc., Verizon Wireless, Reliance Jio Infocomm Limited, and Rogers Communications.
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