The adoption of VoWiFi is growing rapidly all over the globe. This is driving the progress of the global VoWiFi market. As a result, the valuation of the market is predicted to rise from $2,035.3 million in 2019 to $22,801.2 million by 2030. Furthermore, according to the estimates of PS Intelligence, a market research firm based in India, the market would exhibit a CAGR of 24.5% between 2020 and 2030.
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The most widely used VoWiFi technologies are the circuit-switched fallback (CSFB), voice over IP multimedia subsystem (IMS), and voice over LTE generic access (VoLGA). Out of these, the usage of the VoLGA technology is predicted to rise rapidly across the world in the upcoming years. This would be due to the ability of this technology to provide VoLTE services by using the network operator’s 4G infrastructure. Additionally, this technology doesn’t require modifications in the architecture.
Globally, the Asia-Pacific VoWiFi market is predicted to demonstrate the fastest growth in the future. In this region, China currently has the biggest VoLTE subscriber base, due to the existence of major telecom operators such as China Mobile, China Unicom, and China Telecom. The rapid deployment of Wi-Fi networks in other countries is also fueling the advancement of the industry in the region. For example, BSNL, an Indian government-owned telecom company, started a partnership with Google LLC in May 2019.
Thus, it is quite clear that the popularity of VoWiFi would surge all over the world in the upcoming years, mainly because of the increasing deployment of Wi-Fi hotspots in several public places and the growing demand for better Wi-Fi connectivity across the world.
This market research report provides a comprehensive overview of the VoWiFi market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
