According to the report published by Allied Market Research, the global IP multimedia subsystem market generated $2.1 billion in 2020, and is expected to reach $7.2 billion by 2030, exhibiting a CAGR of 13.5% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Rise in data traffic in global cellular networks and development in global cellular network infrastructure fuel the global IP multimedia subsystem market. On the other hand, longer deployment time for telecommunication infrastructure, high cost of installation, and maintenance of telecommunication equipment hinder the market. On the contrary, development in the field of telecom and rapid transformation of the telecommunications industry creates several lucrative opportunities.
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The worldwide COVID-19 pandemic has resulted in increased traffic on global telecommunications networks in the past year. This was due to business enterprises being forced to transition to remote working modes, as well as educational institutions being forced to transition to remote teaching/learning models to ensure people’s safety and slow the spread of the virus during the period, resulting in a strong dependence on telecommunication networks.
According to AMR, The Indian telecom market grew by more than 16% by the middle of 2020, and similar trends were observed in other parts of the world, as telecom consumers increasingly relied on telecommunication networks to continue their education/jobs requirements while maintaining the imposed home isolation.
These trends drove the telecommunication companies to increase their investments IP Multimedia Subsystem market analysis during the period.
COVID-19 scenario:
- The telecommunication sectors were responsible to maintain business continuity during the pandemic and hence did not face any major challenges. Moreover, the pandemic created shortage of raw materials and workforce.
- The interrupted global supply chain forced several telecommunications industry players to postpone their expansion.
- During the pandemic period, telecoms sector market players operating in sports and related domains suffered major losses, which negatively affected the global IP multimedia subsystem market.
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IP Multimedia Subsystem Market Segmentation:
The report segments the global IP multimedia subsystem market on the basis of component, operators, and region.
Based on component, the product segment contributed to the highest market share in 2020, attributing to nearly four-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the services segment is expected to manifest the fastest CAGR of 14.6% from 2021-2030.
Based on operators, the mobile operators segment contributed to the highest market share in 2020, attributing to more than four-fourths of the total market share, and is anticipated to lead during the forecast period. The segment is expected to manifest the fastest CAGR of 13.7% from 2021-2030. The report also analyzes the fixed operators segment.
Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to lead during the forecast period. The global IP multimedia subsystem market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 15.5% during the forecast period.
IP Multimedia Subsystem Market Players
Key players of the global IP multimedia subsystem industryanalyzed in the research include Athonet srl, Cisco Systems, Inc., NEC Corporation, Cirpack, Ericsson, Huawei Technologies Co., Ltd., Oracle Corporation, Huawei Technologies Co., Ltd., International Business Machines Corporation, ZTE Corporation, and Nokia.
North America is expected to be the largest market share of the IP Multimedia Subsystem, during forecasted period. Major telecom giants are making North America home. Network companies are implementing new applications for their networks, such as RCS, private LTE, and wireless broadband. IMS services allow devices such as smartphones and laptops to access services across a wide range of networks, including mobile phones, broadband, Wi-Fi, and more.
People are embracing multimedia applications to improve their communication in response to the increasing use of smartphones in the United States. These factors are driving the growth of the market. Moreover, political authorities are emphasizing the development of current communication networks with the ability to access the 5G network, which provides opportunities for IMS market growth
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the IP Multimedia Subsystem market growth along with current trends and future estimations to elucidate imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the IMS market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the IMS industry.
- The quantitative analysis of IP Multimedia Subsystem market for the period 2020–2030 is provided to determine the IP multimedia subsystem market forecast.
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