Globally, the size of IP Multimedia subsystem market is estimated to surge USD 6.5 billion at a CAGR of 12.3% by 2030 driven by the requirement for network up-gradation.
This will eventually bring the expected market value to 4 billion. Network operation is an imperative demand for any business in the domain. Administering these networks is one of the obligatory requirements that augment the productivity of any business in recent days. Increasing numbers of companies are coming forward and endowing their network infrastructure to be a better productive business. The IP multimedia sub-category system is a system that appears with voice, text, and video communication. This system is liable for creating and wrapping up the IP network. It is also an integrated system of transmission of telecom networks. It also stands as one of the numerous required technologies compatible with almost all the next-gen technological progression.
The most advantageous services that one can achieve from the IP multimedia system are affordability in communication, augmented performance, security, and more profits. Many yet-to-launch technologies can also be compatible with IP multimedia subsystems to offer cloud computing, mobility, and many more things.
Covid 19 has adversely affected the global IP multimedia subsystem market. The IP multimedia system manufacturers have been affected by the pandemic. However, the effects of this covid 19 are only temporary. The market trends are steady in the forecast period. Also, the post covid market growth is promising for the IP multimedia subsystem. The healthcare sector and some of the oil and gas industries still retained their high demand during the pandemic. The IP multimedia subsystem requires technicians for installation. Many end-users became hesitant to make large orders to avoid contact. The supply of the global IP multimedia subsystem is rising in the upcoming years.
The network infrastructure is upgrading every year. The organisations need to adopt the new network infrastructure for better productivity. The digital business depends on the new network infrastructure management. The new network infrastructure includes the IP multimedia subsystems and other next-gen application. The requirement for network up-gradation is driving the IP multimedia subsystem market. The network infrastructure is streamlined for business operations.
The IP multimedia subsystem is a cost-effective network infrastructure when compared to other networks. The cost-efficiency of this technology enables both large and small enterprises to utilise it. The cost factor is a crucial demand driving factor in this market. The standardization and the easy interface of the IP multimedia subsystem make it suitable for several companies. With less expenditure, the enterprises can manage, control and increase the productivity of the organization. Also, the enterprises using the IP multimedia subsystem can earn higher revenue with less expenditure.
The IP multimedia subsystem industry has massive growth opportunities in the VoLTE and VoWiFi sector. Also, The IP multimedia subsystem is easily compatible with the communication services. The Volte industry is using the IP multimedia subsystem for various applications. In the upcoming years, other telecommunication services will utilise IP technology. It offers the market plenty of development opportunities. The Volte is offering voice services for the audience through the IP multimedia subsystem technology.
Furthermore, the emergence of the 5G technology is offering more growth opportunities for the IP multimedia subsystem market. The 5G is the next-generation technology in the ICT market. During the forecast period, several verticals such as entertainment, healthcare, education, government, and transportation are utilizing the 5G technology. The 5G technology offer benefits such as easy connectivity, massive computing capabilities, low latency and cloud computing. The implementation of 5G will increase the use of the IP multimedia subsystem in 2030. The market growth of the IP multimedia subsystem market is promising.
The use of the IP multimedia subsystem requires virtual network infrastructure. Using this technology in legacy system has several complexities. Using IP multimedia in the legacy system decreases the productivity and efficiency of the organisation. The legacy system creates several problems such as high maintenance cost, software error and lack of compatibility. The legacy software of the enterprise needs to be heavily modified to be compatible with the IP multimedia subsystem. Customizing the legacy system is a capital-intensive task.
The lack of compatibility of the IP multimedia subsystem with the legacy software is the major market restraint. Moreover, most of the enterprise uses legacy software. The lifestyle of software ranges from 2 to 5 years. The lifecycle of this legacy system will take more than 5 years to end. It puts the enterprise owners at serious risk. It is a complex transformation. The cost concerns and software lifecycle concerns are the significant IP multimedia market restraint.
Security is a priority in any network infrastructure. Advanced technologies increase the security threat in networks. Also, security attacks and cyber threats are significant challenges in the IP multimedia subsystem market. The IP multimedia network infrastructure requires more developments in the security features. The market needs to enhance security to provide a better working environment for professionals. Also, the enterprises using the IP multimedia subsystem in the legacy system are exposed to several security vulnerabilities.
The Ip multimedia subsystem is a sophisticated technology. The market is witnessing stable growth in recent years. Also, the gradual increase in the market will continue till the forecast period 2030. However, there are some drawbacks in the IP multimedia subsystem market. The need for an upgraded system is the major factor that restricts the market growth. Also, the security issue in this network infrastructure is a serious challenge in this market. However, the key players of the market are taking measures to solve these product issues. The crucial IP multimedia subsystem market drivers are contributing more to the overall growth.
North America is witnessing high IP Multimedia Subsystem Market Profit Sales. It is a region that has well-established telecom firms. The market is witnessing more developments by expanding wireless broadband networks. The government is taking several initiatives to promote efficient technology such as the IP multimedia subsystem. Also, the government is launching a private radio service. All these aspects are creating a positive effect on the Multimedia Subsystem Market Growth. In the forecast period, the Ip multimedia subsystem market value will reach its peak in North America. The rapid adoption of new technologies and government initiatives are the crucial demand driving factors in this region.
The IP multimedia subsystem market is diversified into North America, Asia Pacific and Europe. North America outgrows the other regional players of the market. The IP Multimedia Subsystem Market Research Analysis shows that Asia Pacific will witness the strongest market growth during the forecast period. The up-gradation of network infrastructure and plenty of mobile operators drive the market growth in the region. The adoption of virtualization is happening at an exponential pace in the Asia Pacific region. There are going to more demand from new verticals for the IP multimedia subsystem in the upcoming years. The security of network information is a primary concern in Europe. Europe is adopting the IP multimedia subsystem to increase productivity and security of networks. These regional players are the key contributors of the Global IP Multimedia Subsystem Market.
The need for the Ip multimedia subsystem is getting higher every year. This efficient and cost-effective technology remains a crucial aspect of the telecom industry. The competition in the market is not a server. However, the entry of new competitors will grow the completion in the market.
The key players of the IP multimedia subsystem market are
A worldwide rich communication services market featuring Huawei, SK Telecom, ZTE, and many others has launched. The increasing investment in the LTE and IP multimedia subsystems are accommodating the next-gen with high-end broadband mobile services. This will also increase the access of the RCS in the corporate sector. It is because; the corporate sector has more demands for P2P communication. Which then again pays its part to the market growth. The RCS is a carrier implemented text-based protocol of IP subsystem that comes as an alternate design for short messaging services and multimedia messaging services. The 5G network integration will also benefit from RCS. The professional forecasts that the next-gen messaging and Chabot interaction needs RCS.
|Market Size||USD 6.5 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Access Network, Applications and Services|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Allot Communication , LM Ericsson , Ascom Holdings AG , Oracle , Huawei Technologies Co. Ltd. , Bradford Networks, Inc., Nokia Corporation (Finland), HP , Alcatel-Lucent, Cisco Systems, Inc. , IBM Corporation , Brocade Communications Systems, Inc.|
|Key Market Opportunities||The IP multimedia subsystem industry has massive growth opportunities in the VoLTE and VoWiFi sector|
|Key Market Drivers||The network infrastructure is upgrading every year|
The global market of industrial automation is expected to thrive at 12.3% CAGR and value at USD 6.5 Billion by 2030.
Signaling Gateway (SGW) is an important function of IP multimedia subsystem. Other functions are Call Session Control Function (CSCF), Media Resource Functions (MRF), Media Gateway Control Function (MGCF), and Home Subscriber Server (HSS).
Cisco Systems, Inc. (U.S.), Brocade Communications Systems, Inc. (U.S.), Bradford Networks, Inc. (U.S.), HP (U.S.), Allot Communication (Israel), and Ascom Holdings AG (Switzerland) are some key players of the global IP multimedia subsystem market.
Fixed access, wireless access, and mobile access are access network used by IP multimedia subsystem. Wireless access is expected to gain high traction.
Personal digital assistants (PDAS), mobile phones, cable set-top box, digital subscriber line (DSL), and desktops or laptops are area of application of IP multimedia subsystem.