The global voice over LTE market has reached a valuation of US$ 18.4 billion in 2023, with a projected CAGR of 47.8% from 2023 to 2033. By 2033, the market is anticipated to reach US$ 914.8 billion.
Voice over LTE services are being adopted as a result of the rising need for better voice and video quality and fast Internet.
Since there is an increasing need for high-speed data, there is more rivalry among operators to provide the finest mobile broadband service with the fastest speeds and the broadest coverage.
Key factors influencing the growth of the worldwide voice over LTE (VoLTE) market include features like enhanced voice and video quality and higher spectrum efficiency offered by LTE services.
| Attribute | Details |
|---|---|
| Voice over LTE Market Estimated Value (2023) | US$ 18.4 billion |
| Voice over LTE Market Estimated Value (2033) | US$ 914.8 billion |
| Voice over LTE Market Value CAGR (2023 to 2033) | 47.8% |
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The outlook for the voice over LTE market from 2023 to 2033 exhibits promising growth compared to 2018 to 2022. According to the FMI analysis, the voice over LTE industry grew at a rapid pace of 64.0% from 2023 to 2033 and amassed revenue of about US$ 11.3 billion in 2022.
With the advent of 5G networks and increasing adoption of VoLTE services, the market is expected to substantially expand.
Factors driving this growth include the rising demand for high-quality voice services, improved network infrastructure, and the growing penetration of smartphones and mobile data usage.
The proliferation of VoLTE roaming agreements among service providers is also anticipated to boost market growth by enabling seamless voice services for users across different networks and regions.
The voice over LTE industry is poised for significant development in the coming years with a projected market size of US$ 914.8 billion and a CAGR of 47.8%, transforming how voice communication is delivered over mobile networks.
Principal Consultant
As per FMI analysis, the voice over LTE market in the United States is likely to secure 46.3% CAGR from 2023 to 2033, touching US$ 286.8 billion by 2033.
Several factors are driving the Voice over LTE (VoLTE) market surge in the United States of America. The widespread adoption of smartphones with VoLTE capabilities has increased demand for high-quality voice services and seamless integration with data services.
The ongoing deployment and expansion of 4G and 5G networks provide the necessary infrastructure to support VoLTE, ensuring faster call setup times, improved voice quality, and enhanced network capacity, thereby swaying the market growth.
The rising popularity of advanced communication technologies, such as HD voice and video calling, has further fueled the growth of the VoLTE market. Furthermore, the increasing need for efficient and reliable voice communication in business and personal settings, along with the benefits of cost savings and improved call reliability, have propelled the adoption of VoLTE among individuals and enterprises.
China is home to one of the world's leading mobile markets, and the adoption of 4G technology is already widespread. VoLTE, which enables high-quality voice calls over 4G networks, is gaining momentum as a viable alternative to traditional circuit-switched voice calls.
The continuous expansion of 4G networks and the ongoing development and rollout of 5G networks were expected to drive VoLTE adoption in the country further.
Chinese telecom operators were likely to continue investing in VoLTE infrastructure and services to meet consumers' demands for improved voice communication experiences.
The Chinese government's ongoing efforts to promote digital infrastructure and smart city initiatives have indirectly supported the growth of VoLTE services.
As the country invests in modernizing communication networks, VoLTE adoption is likely to benefit from overall technological advancements.
According to an FMI study, China's voice over LTE industry is expected to garner a revenue of US$ 78.3 billion by 2033, moving ahead at 49.2% CAGR.
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The circuit switched fallback sub-segment is expected to lead the market by technology at a CAGR of 47.4% from 2023 to 2033.
Circuit-switched fallback allows for smooth integration with existing 2G and 3G networks, ensuring compatibility and easy fallback for voice calls, especially in regions where LTE coverage was limited, and legacy networks were still widely used.
Implementing CSFB required minimal upgrades to existing networks, making it a cost-effective solution for operators transitioning from 2G/3G to LTE, as they could continue using their existing circuit-switched infrastructure for voice services.
In some regions, regulatory restrictions or spectrum licensing issues might have limited the immediate rollout of VoLTE, making CSFB the preferred option for voice services over LTE networks.
FMI study projects that the smartphone sub-segment is to advance at 47.0% from 2023 to 2033 in the market.
One of the main drivers of this segment's growth has been the rising popularity of smartphones. With more people using smartphones, there is a growing need for advanced capabilities like VoLTE and Wi-Fi Calling, which are supported by these gadgets.
Smartphones are expected to provide higher sound quality over VoLTE as a result of technological advancements and the launch of new devices by numerous suppliers. During the forecast period, this is likely to surge the demand from end-use sectors like wireless communication & IT firms.
To establish a connection between a cellular network and a device that supports VoLTE, Voice over LTE (VoLTE) uses wireless communication.
The competition landscape in the Voice over LTE (VoLTE) industry is characterized by intense competition among telecom operators and technology providers.
Established telecommunications operators in various regions were expanding their VoLTE services to improve voice call quality and offer advanced communication features. At the same time, technology vendors were competing to provide VoLTE infrastructure solutions to meet the increasing demand.
The rise of Over-The-Top (OTT) applications offering voice and messaging services over the Internet posed further competition as they challenged traditional voice services provided by telecom operators.
The market's competitiveness was driving continuous innovation and improvements in VoLTE technology and services to meet consumers' evolving communication needs.
Recent Developments in the Market:
The carrier claims that while the service may reduce call setup times, the biggest benefit comes from now including phone services as part of its network slicing capabilities.
In 2023, the market is anticipated to be worth US$ 18.4 billion.
The market is estimated to be worth around US$ 914.8 billion by 2033.
From 2023 to 2033, the market is projected to develop at a consistent CAGR of 47.8%.
With a CAGR of 47.4% till 2033, the circuit switched fallback segment dominate the market by technology.
From 2023 to 2033, the market in the United States to accelerate at a 46.3% CAGR.
Soaring customer demand for clear voice calls fuels advancements in call security and audio quality.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2022 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Technology
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Technology, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Technology, 2022 to 2033
5.3.1. Voice Over IP Multimedia Subsystem - VoIMS
5.3.2. Circuit Switched Fallback
5.3.3. Dual Radio or Simultaneous Voice and LTE - SVLTE
5.4. Y-o-Y Growth Trend Analysis By Technology, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Technology, 2022 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Device Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Device Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Device Type, 2022 to 2033
6.3.1. Smartphones
6.3.2. Routers
6.3.3. Wireless Modems
6.3.4. Others - Laptops, Notebooks, Tablets, and Modules
6.4. Y-o-Y Growth Trend Analysis By Device Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Device Type, 2022 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Technology
8.2.3. By Device Type
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Technology
8.3.3. By Device Type
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Technology
9.2.3. By Device Type
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Technology
9.3.3. By Device Type
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Technology
10.2.3. By Device Type
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Technology
10.3.3. By Device Type
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Technology
11.2.3. By Device Type
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Technology
11.3.3. By Device Type
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2022 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Technology
12.2.3. By Device Type
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Technology
12.3.3. By Device Type
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Technology
13.1.2.2. By Device Type
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Technology
13.2.2.2. By Device Type
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Technology
13.3.2.2. By Device Type
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Technology
13.4.2.2. By Device Type
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Technology
13.5.2.2. By Device Type
13.6. UK
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Technology
13.6.2.2. By Device Type
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Technology
13.7.2.2. By Device Type
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Technology
13.8.2.2. By Device Type
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Technology
13.9.2.2. By Device Type
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Technology
13.10.2.2. By Device Type
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Technology
13.11.2.2. By Device Type
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Technology
13.12.2.2. By Device Type
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Technology
13.13.2.2. By Device Type
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Technology
13.14.2.2. By Device Type
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Technology
13.15.2.2. By Device Type
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Technology
13.16.2.2. By Device Type
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Technology
13.17.2.2. By Device Type
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Technology
13.18.2.2. By Device Type
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Technology
13.19.2.2. By Device Type
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Technology
13.20.2.2. By Device Type
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Technology
14.3.3. By Device Type
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Nokia Solutions & Networks
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Huawei Technologies Co. Ltd.
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Alcatel-Lucent
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. AT&T Inc.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Ericsson AB
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. LG Uplus Corp.
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. SK Telecom Co. Ltd.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. T-Mobile US
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. KT Corp.
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Verizon Wireless
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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Voice over LTE Market
