Voice over LTE (VoLTE) Market Size - Global Industry, Share, Analysis, Trends and Forecast 2024 - 2032

Voice over LTE (VoLTE) Market Highlights

• Global voice over LTE (VoLTE) market revenue is poised to garner USD 731.5 billion by 2032 with a CAGR of 53.3% from 2024 to 2032
• North America voice over LTE (VoLTE) market value occupied around USD 5.6 billion in 2023
• Asia-Pacific voice over LTE (VoLTE) market growth will record a CAGR of more than 55% from 2024 to 2032
• Among device, the smartphones sub-segment generated more than USD 6.7 billion revenue in 2023
• Based on end user, the commercial sub-segment generated around 42% market share in 2023
• Advancements in 5G technology pave the way for next-generation VoLTE functionalities is a popular voice over LTE (VoLTE) market trend that fuels the industry demand

Voice over LTE is the transmission of data associated with voice over a framework based on architecture which delivers relevant IP multimedia services. Similarly, circuit-switched fallback (CSFB) is a technology used in delivering short message service and voice services to devices enabled with LTE using circuit-switched networks and GSM. On the other hand, Simultaneous Voice and LTE (SVLTE) is a technical protocol and standard that enables the usage of both voice and data networks together on the same device using a CDMA voice network and LTE data network. VOLGA (Voice over LTE via Generic Access) is a technological approach used to achieve and deliver short message service as well as voice services alongside LTE networks.

In addition, SRVCC is a technological standard mandatorily required in the voice over LTE systems to allow packet domain calls on LTE devices to transmit data through legacy circuit-switched voice seamlessly. Such legacy circuit-switched voice includes CDMA 1x, GSM, and UMTS, among others. Voice over LTE enables mobile network operators to provide video, rich voice, and efficient messaging services as a main offering. It allows the operators to employ data networks to transmit voice services in relatively small-sized packets. It also aids in increasing the overall efficiency of spectrum and helps in reducing maintenance and operational costs since only one network is used in voice over LTE.

Global Voice over LTE (VoLTE) Market Dynamics

Market Drivers

• Increasing adoption of smartphones with LTE compatibility enhances demand for VoLTE services
• Superior voice quality and faster call setup times attract users to VoLTE networks
• Growing investments in advanced communication infrastructure promote VoLTE deployment
• Rising mobile data consumption fuels the need for efficient voice and data integration through VoLTE

Market Restraints

• High initial deployment and operational costs limit VoLTE adoption in cost-sensitive markets
• Compatibility challenges with older devices impede seamless VoLTE integration
• Lack of reliable network coverage in remote regions restricts VoLTE penetration

Market Opportunities

• Expansion into emerging markets like Asia-Pacific and Africa offers untapped growth potential
• Integration with unified communication platforms creates value-added VoLTE applications
• Increasing adoption of IoT devices drives demand for efficient VoLTE solutions

Voice over LTE (VoLTE) Market Report Coverage

Voice over LTE (VoLTE) Market Insights

The growing number of LTE-enabled smartphones is a major driver of the voice over LTE (VoLTE) market. With a rising number of consumers upgrading to handsets that enable LTE networks, mobile network operators are being incentivized to implement VoLTE services to meet the growing user base. LTE compatibility facilitates the seamless integration of high-quality voice and data services, hence increasing the overall user experience. Furthermore, as device manufacturers work to integrate VoLTE technology into mid-range and entry-level handsets, VoLTE service adoption is increasing, particularly in cost-sensitive areas.

VoLTE offers much greater speech quality than traditional voice networks due to its ability to transfer voice data in high definition. In addition, the technique reduces call setup time by eliminating the need for circuit-switched backup procedures. These benefits entice both consumers and businesses to adopt VoLTE services, making it the favored option for voice communication. The move to VoLTE is further aided by the growing demand for video and rich media communication, which VoLTE efficiently meets.

Emerging economies in Asia-Pacific and Africa offer enormous growth potential for the VoLTE market. With significant developments in mobile network infrastructure and increased smartphone usage, these areas are emerging as VoLTE hotspots. Network providers focused on these markets can benefit on untapped potential by providing low-cost VoLTE services, resulting in future market development.

Voice over LTE (VoLTE) Market Segmentation

The worldwide market for voice over LTE (VoLTE) is split based on, technology, device, end-user, and geography.

Voice over LTE Market By Technology

• Circuit switched fallback (CSFB)
• Voice over IP Multimedia Sub System (VoIMS)
• Dual Radio Or Simultaneous Voice And LTE
• Simultaneous Voice and LTE (SVLTE)
• Single Radio Voice Call Continuity

According to voice over LTE (VoLTE) industry analysis, the voice over IP multimedia subsystem (VoIMS) is predicted to be the market's largest sector. VoIMS is the backbone architecture for providing voice, video, and messaging services over LTE networks. Its ability to effectively integrate numerous IP-based services while maintaining high-quality audio transmission makes it the favored technology among operators globally. VoIMS offers a wide range of multimedia applications while providing scalability, flexibility, and improved network efficiency. VoIMS popularity is increasing as more LTE and 5G infrastructure are deployed, owing to its compliance with new network standards. Additionally, its contribution in allowing rich communication services (RCS) and unified communication solutions strengthens its position in the VoLTE market.

Voice over LTE Market By Device

• Smartphones
• Routers
• Tablets
• Dongles
• Others

Smartphones are anticipated to account for the largest market share in the voice over LTE (VoLTE) industry. Smartphones are the major devices that enable VoLTE technology because of their broad usage and compatibility with LTE networks. The growing need for high-quality voice and video communication services has accelerated VoLTE inclusion in smartphones. Manufacturers are increasingly making VoLTE a common feature on mid-range and premium handsets, providing seamless connectivity and a better user experience. Furthermore, the increased availability of 5G handsets, which include sophisticated LTE functionalities by default, is driving VoLTE adoption. With ongoing advances in smartphone technology and increased consumer demand for dependable communication services, this segment is well positioned to maintain its market leadership.

Voice over LTE Market By End User

• Commercial
• Corporate
• Government

The commercial segment is expected to account for a large portion of the voice over LTE (VoLTE) market. Businesses in retail, hotels, and e-commerce are rapidly using VoLTE because of its ability to allow continuous audio communication and seamless integration with modern apps. The increased need for high-definition sound quality and faster call setup times is compatible with business operations that require good communication. Furthermore, VoLTE's capacity to deliver sophisticated multimedia communication, such as video conferencing and unified messaging, makes it more appealing to business users. As businesses continue to digitize their processes, the commercial sector stands to gain the most from the use of VoLTE-enabled equipment.

Voice over LTE (VoLTE) Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of LATAM

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Voice over LTE (VoLTE) Market Regional Analysis

The North American area is predicted to have the highest proportion of the voice over LTE (VoLTE) market, with the United States playing a vital role. This is owing to the extensive use of LTE networks and the high smartphone penetration. Major telecom carriers in the United States were quick to deploy VoLTE services, which offer high-quality voice and video communication. As a result, demand for VoLTE technology has gradually grown throughout the region.

Asia-Pacific is the fastest-growing VoLTE market, owing to significant developments in mobile network infrastructure and expanding smartphone penetration. Countries like China, India, and South Korea are driving this expansion, which is assisted by government efforts to increase 4G and 5G coverage. VoLTE services are now accessible to a broad range of consumers, because to the low cost of LTE-enabled handsets and telecom providers' competitive pricing policies. Furthermore, the growing emphasis on digitization in industries such as education, e-commerce, and transportation hastens VoLTE adoption across the area. As Asia-Pacific continues to modernize its telecommunications networks, the VoLTE industry is expected to develop rapidly in the next years.

Voice over LTE (VoLTE) Market Players

Some of the top voice over LTE (VoLTE) companies offered in our report includes Ericsson, SK Telecom, China Mobile Limited, KT Corporation, Nokia Networks & Networks, Vodafone Group Plc, Huawei Technologies Co., Ltd., LG Uplus Corp., Bharti Airtel, and Cisco Systems, Inc.