Asia Pacific Voice Over LTE Market Expected to Reach $ 179,569.42 Million by 2030

According to a recent report published by Allied Market Research, titled, “Asia Pacific VoLTE Market By Technology, End User, and Country: Opportunity, Analysis and Industry Forecast, 2021-2030,” The Asia Pacific Voice Over LTE (VoLTE) market was valued at $3,618.48 million in 2020, and is projected to reach $179,569.42 million by 2030, registering a CAGR of 47.7% from 2021 to 2030.

VoLTE is the technology in which voice calls are made over the LTE (Long Term Evolution) network. It provides superior voice quality and high internet speed over the standard networks. Moreover, VoLTE allows voice and data access simultaneously. The 4G LTE network is the mainstream foundation for the emergence of VoLTE. 4G LTE is around 20 times faster than any 3G broadband technology. Moreover, 4G LTE reduces battery drain rate more efficiently than 3G technology. Despite of the deployment of 4G LTE network for data, several service providers still prefer 3G CDMA and GSM platforms for voice calls. VoLTE is a long-term solution for voice calls as it is designed for the replacement of conventional mobile voice platforms by easy integration of VoIP (Voice over Internet Protocol) services including landline networks.

The Asia Pacific VoLTE market is influenced by several factors such as rise in demand for improved video and voice quality along with the high-speed internet and increasing investment in VoLTE across Asia Pacific. In addition, a presence of leading VoLTE market players in Asia Pacific fuel the growth of this market. However, delayed acceptance in emerging economies hampered the growth of the market to some extent. On the other hand, advent of the 5G Network connectivity and rise in demand for mobile UC (Unified Communications) are estimated to be opportunistic for the growth of the market. 

On the basis of technology, the voice over IP multimedia subsystem segment dominated the Asia Pacific voice over LTE market in 2020, and is expected to maintain its dominance in the upcoming years. IP Multimedia Subsystem or IMS is a standards-based architectural framework for delivering multimedia communications services such as voice, video and text messaging over IP networks. Voice Over IP Multimedia Subsystem (VoIMS) is a voice over LTE approach that uses IMS. An IP multimedia subsystem is a low-cost network infrastructure compared to other networks. The cost-effectiveness of this technology is driving the VoLTE market in Asia Pacific. However, Voice over LTE via Generic Access Network registered highest growth rate during forecasted period. 

By End User, the corporate segment dominated the growth in the Asia Pacific VoLTE market in 2020, and is expected to maintain its dominance in the upcoming years Organizations are increasingly investing in technologies that can provide data and communication channels at a rapid speed. Moreover, an increase in the need to enhance customer satisfaction and provide solutions at lightning speeds are the factors that are driving the adoption of VoLTE services in corporate sector. Furthermore, the need for better customer support along with the best customer experience is also providing ample growth opportunities for adoption of VoLTE services among corporates. However, commercial segment registered highest growth rate during forecasted period.

The COVID-19 outbreak has low impact on the growth of the Asia Pacific VoLTE market, owing to the fact that the government and private sectors in emerging countries are working together to speed up the development of 5G and VoLTE infrastructure in the wake of the pandemic. For instance, in Thailand, mobile network operators (MNO) are joining forces to provide 5G networks to hospitals. The Eastern Economic Corridor (EEC), which is a special development zone of Thailand, mandates that 5G must cover approximately 50% of the area in 2020, which means that the equipment installation must commence this year in industrial areas.

Moreover, the COVID-19 impact has prompted every company and business to shift their business operations towards a remote work environment. As a result of the dire situation, companies began to implement the BYOD program or enterprise-owned equipment. Therefore, the need for high internet speed and better voice quality for proper communication has increased.

Key Findings Of The Study

• By Technology, in 2020 the voice over IP multimedia subsystem dominated the Asia Pacific VoLTE market size. 
• Depending on end user, the corporate generated the highest revenue in 2020 of Asia Pacific Voice over LTE market share. However, commercial segment is expected to exhibit significant growth during the forecast period.
• Country wise, the Asia Pacific Voice over LTE industry was dominated by China. However, India is expected to witness significant growth in the upcoming years. 

Some of the key Asia Pacific VoLTE industry players profiled in the report include Huawei Technologies Co., Ltd., LG Uplus Corp., SK Telecom, Cisco Systems, Inc., KT Corporation, Ericsson, Nokia Networks, Vodafone Group Plc, Bharti Airtel, and China Mobile Limited. This study includes market trends, Asia Pacific Voice over LTE market analysis, and future estimations to determine the imminent investment pockets.