Pune, India, March, 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global IP Multimedia Subsystem Market.
According to the report offered by Market Research Future (MRFR), the global IP multimedia subsystem market is expected to proliferate at 12.3% CAGR over the forecast period 2022 to 2030. The analysis underscores that the global market is anticipated to touch a valuation of USD 4 Bn by the end of the assessment period. IMS offers advantages such as multi-vendor approach, lower costs, faster time to market, etc. These have accelerated its adoption and are poised to follow a similar trend in the upcoming years.
The growth of the telecommunications industry is the primary factor responsible for driving the expansion of the IP multimedia subsystem market over the next couple of years. A rise in the volume of data utilized is witnessed in the industry coupled with lower revenue yield. The prime focus of the industry players is on increasing revenue while lowering operational costs. The industry is estimated to reach a measure of zettabytes in a few years. This has led to the accelerated adoption of IP multimedia subsystem for eliminating congestion in the spectrum, thus, augmenting the market.
The increase in the use of LTE and VoLTE services catalyzed the growth of the IP multimedia subsystem market in the recent years. The advent of 5G services is further expected to boost the growth trajectory of the market in the forthcoming years. 5G services are expected to be commercialized by 2030; thus, unleashing growth opportunities for the market participants.
By access network, the global IP multimedia subsystem market has been segmented into fixed access, mobile access, and wireless access.
By applications, the IP multimedia subsystem market has been segmented into mobile phones, personal digital assistants, computers/laptops, digital subscriber line, and cable set-top box.
By services, the global IP multimedia subsystem market has been segmented into videos, Web, Messaging, voice, VoLTE, Rich Communication Services (RCS), and others.
By function, the IP multimedia subsystem market has been segmented into Call Session Control Function (CSCF), Home Subscriber Server (HSS), Signaling Gateway (SGW), Media Gateway Control Function (MGCF), and Media Resource Functions (MRF).
By region, the global IP multimedia subsystem market has been segmented into North America, Asia Pacific, Europe and the Rest of the World (RoW). Asia Pacific is leading the global market and is anticipated to maintain its prominence over the next couple of years. The developments in the telecommunication industry in the region is projected to emerge as the primary factor responsible for encouraging the expansion of the IP multimedia subsystem market. Communication providers are likely to amplify investments in the market which is presumed to revolutionize the expansion of the IP multimedia subsystem market across the assessment period. Furthermore, the developments in the communication methods are estimated to accelerate revenue creation for the market participants in the foreseeable future.
North America is anticipated to exhibit steady growth over the next couple of years. The superior network infrastructure of the region is anticipated to propel the expansion of the IP multimedia subsystem market in the forthcoming years. The introduction of 5G services is forecasted to intensify the growth rate of the market across the review period. Europe has been projected to trail North America and exhibit a similar trend in the years to come. The regional IP multimedia subsystem market is supposed to exhibit steady growth rate over the projection period.
Some of the key players operating in the IP multimedia subsystem market are LM Ericsson (Sweden), Nokia Corporation (Finland), Oracle (U.S.), Alcatel-Lucent S.A. (France), Huawei Technologies Co. Ltd. (China), IBM Corporation (U.S.), Brocade Communications Systems, Inc. (U.S.), HP (U.S.), Cisco Systems, Inc. (U.S.), Bradford Networks, Inc. (U.S.), Allot Communication (Israel), and Ascom Holdings AG (Switzerland).