The IP Multimedia Subsystem (IMS) Services Market is expected to register a CAGR of 16.5% during the forecast period of (2020 - 2025). With the Internet of Things (IoT) and Cloud Computing being the future of the internet, the IP multimedia subsystem communication platform is the most suitable fabric for integrating IoT and Cloud.
- Further with the increasing demand for Volte and LTE services along with the demand for the global standard for network infrastructure and services are the drivers for this market.
- The demand for music and video-on-demand services has also increased, owing to the changes in customer preferences, improved internet speed, and the proliferation of smartphones.
- For instance, in March 2019- Mobily Saudi Arabia deployed Ericsson’s full stack telecom cloud solution, focusing on transforming its wireless network and providing a 5G Cloud Core.
- However, security concerns in virtualization, lack of availability of a skilled workforce, may hamper the growth of the market, but for a specific period.
Scope of the Report
The IP Multimedia Subsystem (IMS) is a concept for an integrated network of telecommunications carriers that would facilitate the use of Internet Protocol for packet communications in all known forms over wireless or landline. Instant Messaging (IM), VoIP, VoLTE, and VoWiFi are the major services that make use of the IMS architecture. As all these services making use of data, the need for session management controllers is expected to emerge in the near future.
Key Market Trends
Emergence of 5G Offers Potential Opportunities
- 5G technology is expected to fundamentally transform the role that telecommunications technology is playing in society. Further, it will enable pervasive digitalization of a hyper-connected society, where not only are all people connected to the network whenever needed, but also many other devices/things virtually creating the society with everything connected.
- 5G development requires more spectrum resources, especially low-frequency resources with good penetrating capabilities.IMS deployment has entered the fast lane. According to statistics of GSMA, 138 carriers around the world had launched IMS-based VoLTE networks by May 2018.
- For operators to retain the voice and messaging business and stay relevant to their customers they have the opportunity to provide innovative, cost-efficient and interoperable communication services. And thus, IMS provides one common system for all IP-based communication services, for both consumers and business users.
- Further, 5G will enable new use cases such as in smart cities, smart agriculture, logistics, and public safety agencies. Thus the growth of 5G will offer a huge opportunity for IP multimedia subsystem (IMS) services market to blossom.
Asia-Pacific to Register Highest Growth Rate
- The Asia-Pacific region is the fastest-growing economic region in the world. The region is witnessing the rapid proliferation of smart technologies, such as smart cities, autonomous vehicles, IoT applications, home automation, industrial automation, intelligent processing technologies, and others such factors are expected to drive market growth.
- Moreover, India is the world’s second largest telecommunications market, with 1,206.22 million subscribers as of March 2018. Further, IBEF forecasted that the number of internet subscribers in the country is expected to double by 2021 to 829 million and overall IP traffic is expected to grow four-fold at a CAGR of 30 percent by 2021.
- In addition, the government of India is proactive in providing room for growth for telecom companies. For instance, the government of India has introduced the 'Digital India' program under which all the sectors such as healthcare, retail, etc. will be connected through the internet. In the result of such initiative, the IP multimedia subsystem (IMS) services market
is expected to grow at the highest rate in the Asia-Pacific region.
The IP multimedia subsystem (IMS) services market is highly competitive because of the presence of many major players. The competition in the market studied has reached interesting levels, with the involvement of leading technology giants, such as Huawei, Ericsson, and Alcatel-Lucent, leading the race to dominate the market space. Key players in this market are catering the demand by collaborating, product innovations and acquiring with small players and investing in technologically advanced product portfolio across the globe.
- March 2019 - Ericsson, Volvo Construction Equipment (CE), and Telia teamed up to operate Sweden’s first 5G network for industrial use, placing Volvo CE among the early global pioneers, in order to test remote-controlled machines and autonomous solutions with the technology.
- February 2019 - Ericsson and Telefónica, penned a new four-to-six-year managed services deal for AI-powered Network Operations in the United Kingdom, Colombia, Peru, Ecuador, and Uruguay. Ericsson is expected to provide services spanning day-to-day monitoring and service desk, change management, and problem and incident management - all powered by its leading AI and automation solutions.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support