IP Multimedia Subsystem Market Expected to reach $7.29 Billion by 2030

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.

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).

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.

Key Findings Of The Study

• By component, in 2020 the product is estimated to be the major shareholder. However, services is expected to witness highest growth rate during the forecast period.
• On the basis of 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.
• Region wise, the IMS market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

Some of the key companies mentioned within the report are Athonet srl, Cirpack, Cisco Systems, Inc., Ericsson, Huawei Technologies Co., Ltd., International Business Machines Corporation, NEC Corporation, Nokia, Oracle Corporation, ZTE Corporation.