New York, May 10, 2023 (GLOBE NEWSWIRE) -- According to PMR, The Media Gateway Market was worth US$ 2.1 billion in 2022and is expected to reach US$ 2.2 billion in 2023. According to market forecasts, the industry will reach US$ 3.4 billion in 2033, representing a 4.7% CAGR.
The expansion of communication technology, as well as the increasing penetration of internet users, will boost the demand for communication solutions that are effective, scalable, robust, and affordable; thus, media gateways will grow during the forecast period.
The network design will face new challenges as VoIP evolves due to the need to communicate different signaling protocols, convert compression protocols, and peer with other IP networks. Media gateways evolve with the growth of a network. Service providers can increase their network presence globally by supporting CAS, ISDN, and SS7 media and signaling.
Insurers, banks, and investment companies could grow their customer bases and support financial inclusion by improving social media engagement. Using Session Initiation Protocol (SIP) and distributing network elements, VoIP is moving towards a distributed model. Even though SIP has been successful in IP-based VoIP networks, circuit-switched technologies are widely used within the existing Public Switched Telephone Networks (PSTN).
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Operators are increasingly looking for cost-effective solutions that offer a migration path to future SIP-based services while leveraging technology investments currently in place.
Operators will have several options for meeting these needs, including the use of media gateways. A number of factors must be taken into account when evaluating the ability of media gateways to support such new models. As a result, service providers and OEMs will need to adjust their applications and services accordingly.
Key Takeaways from Market Study
- Telecommunications media gateways are predicted to grow by 4.6% CAGR from 2023 to 2033.
- Digital media gateways are forecast to grow 4.5% between 2023 and 2033.
- By 2033, the demand for media gateways in the United States is expected to grow by US$ 1.1 billion.
- China represents an absolute dollar growth opportunity of US$ 121.7 million.
- According to predictions, Japan will hold a CAGR of 4.1% global market by 2033.
“The growing use of communication technology and the rise of internet penetration will drive the growth of media gateways. Advances in technology and 5G technologies are expected to drive the telecom sector in the future.,” says an analyst at Persistence Market Research.
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Competitive Landscape
The market for media gateways is dominated by a number of medium and small-sized companies, which have significant manufacturing resources and conduct a number of development activities. To meet the requirements of media gateway, key players develop advanced technologies. Some of the top players include:
- Nokia
- AudioCodes
- Avaya
- Ribbon Communication
- Ericsson
- Huawei
- Cisco Systems
- Dialogic
- Synway Information
- ZTE
Prominent developments in the market are as follows:
- In March 2023, VEON Ltd., a digital service provider focusing on converged connectivity, announces the addition of its APIs (Application Programmable Interfaces) to the GSMA Open Gateway framework, a framework for providing developers with universal access to operator networks. The GSMA Open Gateway will launch at the Mobile World Congress in Barcelona in 2023 with the support of 21 mobile network operators aiming to change the way the telecommunications industry designs and delivers services in a world based on APIs.
- In April 2023, Amazon Web Services (AWS) will launch AWS Elemental MediaConnect Gateway, a new cloud-based software application that will enable multicast video transmission between on-premises networks and AWS. The AWS MediaConnect Gateway helps you manage, monitor, and secure video feeds in hybrid environments. AWS customers can integrate MediaConnect Gateway into their on-premises infrastructure seamlessly to build end-to-end workflows for live video contribution and distribution in AWS.
Know More about Report Inclusions
Persistence Market Research published a new market report on the media gateway market, covering a global industry analysis of 2018 to 2022 and forecasts for 2023 to 2033.
This research report provides compelling insights on the basis of product type, application outlook, and sales channel, across all major regions.
By Type – Analog, Digital
By Technology – Wireline, Wireless , Hybrid
By Vertical – Telecommunication, BFSI, Healthcare, Government, Manufacturing, Transportation
By Region- North America, Europe, Asia Pacific, Middle East and Africa, Latin America
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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For additional information on how media gateway sales will increase in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
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