Westford, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- It has been confirmed that the German telecommunications company, a leading player in the Germany mobile voice market, Deutsche Telekom will partner with Tele2 to provide high-quality voice and security solutions to customers based in Sweden and the Baltics. It is the exclusive gateway for international incoming and outgoing voice traffic using the voice aggregation solution “United Voice” which provides tailored fraud protection security to the customers as well.
The shift in workplace models ever since the dawn of COVID-19 has left a positive impact on the mobile voice market. There is an increase in the adoption of mobile for communication in various sectors like healthcare, insurance, IT, and so on. With the technological advancements in the Voice over Internet Protocol (VoIP), enhancements in fiber infrastructures, and expansion in the sale of digital gadgets, there has been a rise in the growth of this global market.
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In a recent survey, SkyQuest found that post-pandemic, 38% of the households globally shifted to connecting devices with their home internet and relied on remote connectivity. 34% of the working population found it more comfortable to work from home even after the impacts of COVID-19 had diminished. There was a 15-20% increase in online shopping and online payments ever since the pandemic began. This has consequently caused a hike in the wireless connectivity offered by the mobile voice market.
Data through wireless connections are on a hike currently. This, subsequently, is expected to result in driving the market further in the future towards growth due to the majority of the global population opting for wireless connections over personal PCs. Wireless communication technology is advancing as its benefits of communications, transactions, data exchange, and other perks are ushering in the shift to digitalization.
Will 5G technology affect the mobile voice market?
The increase in spending on 5G technology is one of the key factors in the growth of the mobile voice market. This has given rise to the increase in demand for high-speed mobile phones, enhancing effective means of voice communication. According to SkyQuest’s research, it is expected that around 1.5 billion people will have access to the 5G network by 2024. This significantly boosts various economic developments.
5G technology will accelerate the growth of Communication Service Providers (CSPs) by giving access to cloud programming and developing a new platform for voice services. With the rise in virtual reality scenarios, 5G deployment opens doors for an immersive experience in voice services and communication among individuals and their environments.
For instance, T-mobile, a leading player in the global mobile voice market, has recently launched 5G voice services for limited areas in the US like Portland, Utah, and Oregon. However, there remains a massive gap in the market for 5G as 4G HD calling is still dominating the voice market. It is safe to say even with the fast embracing of 5G technology, many countries are stuck at 2G and 3G infrastructure to even consider this switch. Currently, Dish and T-Mobile are the only 5G-enabled telecommunications providers in the US.
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Trends to look forward to in the mobile voice market
With the introduction of new trends, mobile network operators (MNOs) require to gear up and prepare for them to stay competitive in the market with rising demand.
Flash Calling- The process of verifying a user authentication via missed phone calls like OTPs (One-Time Passwords), and OTTs (Whatsapp, Telegram, and so on) is termed flash-calling (A2P voice). With the emergence of lower consumer friction, flash call verification is set to encompass the market. Being cost-effective and providing protection against fraudulent activities, and consequently, security during transactions, it is rapidly growing in the mobile voice market. It is estimated by SkyQuest that by 2022 5 billion flash calls will be adopted and made by various companies and brands. It is estimated to further reach 128 billion in number by 2026.
Voice Firewalls- WIth the increased sense of security among the global population, voice firewall is spreading like wildfire. It is sought out by consumers intensely with the protection against fraudulent calls and the security it offers. With VoLTE and Vo5G, complexity is added to voice traffic development technology. While the cost of the voice firewall seems to increase over the introduction of 5G, there is a massive scope in the market left untapped. With the diversity it provides with working with any brand, type, or age of PABX, it is gradually increasing in demand.
Voice API- Voice API (Application Programming Interface) or programmable calls are spreading their resourcefulness in the mobile voice market as they help create customized and automated calls to customers using AI (Artificial Intelligence). Its utilization is spread further for its ability to provide voice controls and self-service which is easy to use. Voice API benefits are never ending as they provide voice-related operations like call recording and audio conferencing besides allowing an application to connect to a carrier network. The market for Voice APIs is expected to expand in the future with its benefits of customer engagement, collaborations, and customer service provided through myriad applications which will impact the internal efficiencies of brands and enterprises profitably. It also offers a wide scope for growth without the need to invest massively in telecom expertise and infrastructure.
Currently, the revenue of the mobile voice market is expected to reach USD 262 billion by the end of 2022. It is on a gradual decline at a CAGR of -1.83% and is expected to reach USD 239 billion by 2027. However, with the recent developments seen in different companies and brands, the 5G market is expected to cater to a spike in the growth of this market, as more and more global populations shift to online activities owing to its easy access and time effectiveness.
Based on a thorough research on the mobile voice market, SkyQuest has prepared a report on the mobile data market which provides an in-depth analysis of the mobile voice market. It provides an all-encompassing insight into which segment is set is grow more or quickly and which one has the highest potential left untapped. To help your business align with the trends and innovations of the market, this analysis will help you strategize with data-driven decisions to accelerate your business and maintain the competitive edge in the market.
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Global Top Players of Mobile Voice Market
- AT&T Inc.
- Verizon Communications Inc.
- Nippon Telegraph and Telephone Corporation (NTT)
- China Mobile Ltd.
- Deutsche Telekom AG
- SoftBank Group Corp.
- China Telecom Corp Ltd.
- Telefonica SA
- Vodafone Group
- KT Corporation
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Global Internet Of Vehicle Market
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