Newark, NJ, May 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global IP multimedia subsystem market is expected to grow from USD 1.88 billion in 2019 to USD 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 USA are the main countries in the region that will drive the growth of the market. The presence of large 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 emerge as the major countries to hold the market share in the APAC region. Due to rise in the use of cloud platforms by operators for implementing the IP networks, the demand in the region will rise considerably.
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Some of the notable players in the market 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. The increasing investments in research and development of advanced technological innovations and launching of new products across the globe are the major strategies adopted by the players. Along with these, companies are resorting to mergers and acquisitions for increasing market share and effective deployment of resources. Telefonica and Ericsson signed a deal to operate AI-powered services like change management and, problem management in the countries of Colombia, Ecuador, United Kingdom, Uruguay, and Peru.
This study delivers a comprehensive analysis of components, telecom operators, and regions. On the basis of components the market includes product and services. The services can be professional services which includes integration and deployment, training and support and, consulting. The product component will dominate the market share due to rising implementation of the IP multimedia subsystem solutions by the telecom operators like VoWiFi, VoLTE, and RCS etc. On the basis of telecom operator, the market includes fixed operators and mobile operators. The mobile operators hold a dominant market share due to increase in demand for cost-saving and scalable solutions.
The demand of high technology networks like wireless, wireline etc, by the service providers to reduce their operational costs have fuelled the market growth. The coming up 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. The demand of consumers for high internet speed and increasing penetration of smartphones will also accelerate the market growth. The increasing penetration of IoT applications and intelligent processing technologies will help the market to grow rapidly.
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About the report:
The global multimedia subsystem market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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