Newark, NJ, May 19, 2022 (GLOBE NEWSWIRE) — According to report published by Fior Markets, the global IP Multimedia Subsystem market is expected to grow from $1.88 billion in 2019 to $8.26 billion by 2027. , at a CAGR of 16% during the forecast period 2020-2027. The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa and South America. North America is expected to hold the largest market share, followed by Europe. Canada and the United States are the major countries in the region that will drive the market growth. The presence of major telecom players in the region along with the penetration of innovative technologies will enable North America to act as the dominant region in the market. The Asia-Pacific region is expected to show the highest growth rate. India, Japan, Australia and China will become the major countries to hold the market share in the APAC region. Due to the growing use of cloud platforms by operators for implementing IP networks, the demand in the region will increase significantly.
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Notable market players include Huawei, Ericsson, NEC, ZTE, Nokia, Athonet, Cisco, Cirpack, Dialogic, Commverge Solutions, Italtel, Interop Technologies, Metaswitch, Oracle, Mavenir, WIT Software, Radisys, Samsung, and Ribbon. Communications. Growing investments in researching and developing advanced technological innovations and launching new products across the globe are the major strategies adopted by the players. Along with this, companies are resorting to mergers and acquisitions to increase their market share and deploy their resources efficiently. Telefonica and Ericsson have signed an agreement to operate AI-based services like change management and issue management in the countries of Colombia, Ecuador, United Kingdom, Uruguay and Peru .
This study provides a comprehensive analysis of components, telecom operators and regions. Based on components, the market includes products and services. Services can be professional services that include integration and deployment, training and support, and consulting. The product component will dominate the market share owing to the growing implementation of IP Multimedia Subsystem solutions by telecom operators such as VoWiFi, VoLTE and RCS, etc. On the basis of telecom operator, the market includes fixed operators and mobile operators. Mobile operators hold a dominant market share due to the increase in demand for cost-effective and scalable solutions.
The demand for high-tech networks like wireless, wired, etc. by service providers to reduce their operating costs has fueled the growth of the market. The advent of 5G technology has led to the increasing adoption of voice over internet protocol for better communication services, acting as a major driver for market growth. Consumer demand for high internet speed and growing smartphone penetration will also accelerate the market growth. Growing penetration of IoT applications and smart processing technologies will help the market grow rapidly.
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About the report:
The global Multimedia Subsystems market is analyzed on the basis of value (USD Billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, analysis of distribution and marketing channels.
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