The global market for IP multimedia subsystems is predicted to expand from almost $14 billion in 2017 to nearly $50.4 billion by 2026. This suggests a compound annual growth rate (CAGR) of 15% by 2026.
Future Market Insights (FMI) recently published research on the global market for IP multimedia subsystems, claiming that the industry would grow at an exceptional rate over the forecast period (2016-2026). Demand for IP multimedia subsystems is expected to develop rapidly and generate US$ 50,347.4 Mn in revenue by 2026, representing a 15% CAGR over the projected period.
The growing use of shared service infrastructure is considered a major factor driving the worldwide IP multimedia subsystem market. Furthermore, interoperability with the Internet and support for quality of service are expected to stimulate demand for IP multimedia subsystems in the near future.
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According to the FMI analysis, the global market for IP multimedia subsystems is estimated to generate a US$ 37,927.6 Mn incremental opportunity between 2016 and 2026. The industry is expected to grow rapidly due to the increased use of services such as instant messaging, multimedia, and conferencing. Furthermore, corporations are now adopting IP multimedia subsystems to connect in real time with other corporate clients. IP multimedia subsystems allow for the extension of services, particularly in multimedia communication and integrated voice services.
This facilitates the integration of numerous media, many points of access, and multiple modes of communication into a single network, which is why many network operators use IMS services. Top companies providing IP multimedia subsystem solutions include Mitel Networks Corporation, Cirpack SAS, Italtel S.p.A, Cisco Systems, Inc., Huawei Technologies Co. Ltd., Du, IBM Corporation, ZTE Corporation, Etisalat, Ericsson Inc., Nokia Corporation, MTN Irancell Telecommunication Services Company.
Key Highlights of the Report include:
- In 2016, revenues from the sale of mobile/wireless mode IP multimedia subsystem stood at US$ 8,687.9 Mn and is expected to reach US$ 40,931.3 Mn towards the end of the forecast period representing a CAGR of 20.8%. Consumers and enterprises are increasingly adopting IP multimedia subsystem solutions due to the increasing usage of wireless phones, laptops, and other wireless devices.
- Application of IP multimedia subsystem in Internet and web service is expected to garner US$ 14,579.8 Mn in revenues by the end of the assessment period, reflecting a CAGR of 17.2% over 2026. This is attributed to the robust use of the Internet and web-based services for managing online business applications, VoIP applications, VoLTE applications and other Internet-based communication. Meanwhile, use of IP multimedia subsystem in VoIP is also increasing owing to the growing popularity of video and voice-based communication.
- By the end of 2026, US$ 28,283.7 Mn worth IP multimedia subsystems are expected to be sold globally to end-user consumers. Consumers are rapidly adopting IP multimedia subsystem services owing increasing adoption of social media platforms for social and personal communication.
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Among regions, the market for IP multimedia subsystems in North America is expected to remain dominant throughout the forecast period. In 2016, the region’s market reached a valuation of US$ 3,318.2 Mn, with 26.7% revenue share. APEJ is also expected to witness robust growth of its IP multimedia subsystems market, increasing at an attractive CAGR of 18.5 % during the forecast period.
Increasing usage of multimedia applications is a growing trend in the global IP multimedia subsystem market multimedia subsystem services are enabling devices such as smartphones and laptops to access services through various networks such as cellular, broadband, Wi-Fi and others. In addition, along with the rising use of smartphones, individuals are using multimedia applications in order to improve their communications.
IP multimedia subsystem services allow users to use services such as multimedia conferencing, instant messaging, push-to-talk and other services along with maintaining the quality of services without increasing costs. Going with this current trend, many operators have started offering multimedia capabilities through IP multimedia subsystem services such as video, messaging, audio, push service, and others to improve their offerings.
Market TaxonomyBy Mode of Communication
- Mobile/Wireless
- Cable/Wireline
By End User
- Consumer
- Enterprise
By Application
- Internet & Web Service
- VoIP
- SMS
- Video Conferencing
- Video on Demand
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
- Japan
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