Voice over WiFi Market to grow at a double digit CAGR during the forecast period
The increasing number of internet users and growing
proliferation of internet are driving the global Voice over WiFi market during
the forecast period.
According to TechSci Research report, “Global Voice over WiFi Market By Technology,
By Voice Client, By Device Type, By End User, By Region, Forecast &
Opportunities, 2025”, the global market
for voice over WiFi is expected to witness robust growth during the forecast
period. The intervention of internet in different segments, development of IoT
(Internet of Things) and growing adoption of internet are contributing to the
increasing share of the market across the globe. Another factor that can be
held responsible for the same is the issue of poor indoor connectivity, which
has led the population to shift to VoWiFi from VoLTE. However, the restraining
factors of the market include issues in repairing and troubleshooting WiFi
networks. In addition to this, the lack of the E-911 facility in VoWiFi might
act as a constraint for the growth of the market.
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Voice over WiFi market is segmented based on
technology, voice client, device type, end user, and region. The end user
segment is bifurcated into residential and commercial. The commercial segment
holds a major share in the VoWiFi market as governments in various countries have
now initiated funding for the WiFi hotspots all over the world. At the same
front, Indian government is aiming to install 10 million WiFi hotspots by the
year 2022, in offices, companies, education centers, and especially in the
rural areas, where the tower coverage is considerably less than the urban
areas. Nevertheless, residential segment is also anticipated to witness
positive growth until 2025.
In terms of regional analysis, North America accounted
for the largest share of global voice over WiFi market and the trend is likely
to continue in the coming years as well. An increase in the number of LTE
subscribers in the region in the past two years has led to an extensive
increase in the market share in the region. In addition to this, the adoption
of IMS (Multimedia Core Network Subsystem) has also contributed to the growth
as it provides the consumers with the best quality and interoperability of the
existing networks.
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Some of the leading players
in global voice over WiFi market include Alcatel-Lucent S.A., Oracle
Corporation, Cisco Systems Inc., Ericsson AB, Huawei Technologies Co. Ltd,
Aptilo Networks, KT Corporation, Mitel Networks Corporation, Nokia Corporation,
Ribbon Communications US LLC, among others. In order to expand their market
share, the companies adopt various strategies like new product launches,
collaborations, introduction of attracting offers to attract more customers. Also, the companies of the region have started
investing in IMS, for example, in the year 2018, Eastlink, a telecommunication
company, selected Ericsson for the VoLTE and VoWiFi supply, which in turn will
deploy a 5G network working on the principles of IMS components in the region.
Cisco has also deployed in the top tier operators in North America. Even the
churn rate, i.e., the rate at which customers stop subscribing to a service or
employees leave a job, of North America mobile operators was as low as 1.5-2.5%
as of 2016. Additionally, operators aim to reduce their churn rate in order to
achieve market growth.
“Global voice
over WiFi market is anticipated to witness significant growth over the course
of next five years as the technology offers improved voice quality in
comparison to 2G/3G, allows calls without the need for signals and offers
better indoor coverage. Moreover, more bandwidth allocation for LTE than its
counterparts coupled with surging number of VoLTE subscribers, is anticipated
to drive the voice over WiFi market until 2025.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Voice over WiFi Market, By Technology, By
Voice Client, By Device Type, By End User, By Region, Forecast &
Opportunities, 2025” has evaluated the future growth potential of global voice
over WiFi market and provided statistics & information on market size, shares,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global voice over WiFi
market.
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