New York, U.S., June 02, 2022 (GLOBE NEWSWIRE) — IP Multimedia Subsystem Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “IP Multimedia Subsystem Market Analysis by access network (fixed access, mobile access, wireless access), by applications (personal digital assistants, computers/laptops, digital subscriber line, cable box), by services (videos, Web, messaging) – Forecasts 2030” valuation is about to reach USD 6.5 billion by 2030, registering a CAGR of 12.3% throughout the forecast period (2021-2030).
Scope of the IP Multimedia Subsystem Market Report:
Network operation is an integral part of any business. Proper management of these networks is very important for business productivity. Currently, several companies are investing in network infrastructure. IP multimedia subsystems refer to a network service equipped with text messaging and voice video services. It is a system that determines, stops and manages the IP network. IP multimedia refers to a system for combined telecommunication networks. The IP Multimedia Subsystem is a high-end technology matching other next-generation technologies. The IMS system is beneficial for all types of businesses.
|Market size||$6.5 billion|
|Forecast units||Value (USD billion)|
|Report cover||Revenue forecasts, competitive landscape, growth factors and trends|
|Segments Covered||Access network, application, services and region|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Main suppliers||Allot Communication, LM Ericsson, Ascom Holdings AG, Oracle, Huawei Technologies Co. Ltd., Bradford Networks, Inc., Nokia Corporation (Finland), HP, Alcatel-Lucent, Cisco Systems, Inc., IBM Corporation, Brocade Communications Systems, Inc.|
|Key market opportunities||The IP Multimedia Subsystem industry offers huge growth opportunities in the VoLTE and VoWiFi sector|
|Key Market Drivers||The IP Multimedia Subsystem is a cost-effective network infrastructure compared to other networks|
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The valuable services of the IP Multimedia Subsystem are lower operating cost, improved performance, productivity and profitability. Additionally, next-generation technologies that can be implemented with the IP Multimedia Subsystem are mobility, cloud computing, and other wireless networks. The growing demand for the automation market will drive the growth of the market over the assessment period.
IP Multimedia Subsystem Market segments
Among all the components, the product segment is expected to account for the highest revenue share in the global IP Multimedia Subsystems market over the assessment period. Segment growth is primarily attributed to telcos implementing large-scale IMS solutions to deliver a range of use cases, including Unified Communications as a Service (UCaaS), Rich Communication Services (RCS ), Fidelity Voice over Wireless (VoWiFi) and Voice over LTE (VoLTE).
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Among all the application areas, the mobile operator segment is expected to secure the leading position in the global IP multimedia subsystem market over the forecasted period. The segment has faced several challenges such as low return on investment (RoI), costly CAPEX and OPEX, fierce competition, and upgrading old technologies to meet current end-customer expectations. Increasing investment in 5G infrastructure is the central aspect causing an acceleration in the growth of the segment.
IP Multimedia Subsystem Market Regional analysis
The global IP Multimedia Subsystems market is studied across five major regions: Europe, Asia-Pacific, North America, Latin America, and Middle East & Africa.
According to MRFR analysis reports, the Asia-Pacific region is expected to dominate the global market in the coming years. The growth of the regional market is attributed to the multitude of mobile operators, upgrading of network infrastructure and adoption of virtualization.
The IP Multimedia Subsystem market for the European region is expected to witness substantial growth over the assessment period. The growth in regional demand is attributed to the growing adoption of services to increase network productivity and security.
Covered USP market
The global IP Multimedia Subsystems market has witnessed a massive increase in growth rate over the past few years. With technological developments in the field, the network infrastructure is updated every year. Businesses around the world need to adopt the latest network infrastructure for better productivity. The digital business varies on the latest network infrastructure management. The constant need for network upgrade is the major aspect causing an increase in market growth.
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Moreover, service profitability is another crucial parameter supporting the growth of the market over the forecast period. Moreover, standardization and simple interface are also likely to boost the market growth in the coming years.
The market is very lucrative in nature. The VoWiFi and VoLTE sector is likely to provide many opportunities for players around the world. Also, the industry is easily compatible with communication services. Over the next few years, other telecommunications services will bring us IP technology. The prevalence of 5G technology is another crucial aspect that is expected to provide lucrative opportunities for market players over the coming years. Growing adoption of 5G technology in transportation, government, education, healthcare, and entertainment sectors is expected to drive the market growth over the forecast period.
Although there are many aspects supporting the growth of the IP Multimedia Subsystems market, specific parameters may hinder the development of the market. The use of IP multimedia in the legacy system leads to issues such as decreased productivity and efficiency, lack of compatibility, software error and high maintenance costs, which may hamper the growth of the market . In addition, security attacks and cyber threats are considered as major threats to the IP Multimedia Subsystems market.
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Top Key Players of IP Multimedia Subsystem Market Covered Are:
- Brocade Communications Systems, Inc.
- Allocate communication
- IBM Corporation
- LM Ericsson
- Cisco Systems, Inc.
- Nokia Corporation (Finland)
- Ascom Holding AG
- Huawei Technologies Co.Ltd.
- Bradford Networks, Inc.
Impact of COVID-19
The global Covid 19 pandemic has had a significant impact on the majority of market sectors across the globe. The market for IP multimedia systems is no different from any other. Global market players have faced several unexpected challenges during the pandemic. Several governments around the world have imposed partial or full lockdowns to curb the spread of the disease. On the other hand, the impact of the global pandemic is considered temporary. According to MRFR analysis reports, market trends are likely to be stable over the assessment period. Furthermore, the definitions further predict promising market growth for IP Multimedia Subsystem over the coming years. Some of the oil and gas industries and the healthcare sector have maintained strong demand even during the pandemic. The IP Multimedia Subsystem needs technicians for installation. Several end users have become cautious before placing huge orders to avoid contact. The supply of the global IP multimedia subsystem has increased during the evaluation era.
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