A report on the global market for IP multimedia subsystems was just released by Future Market Insights (FMI), and according to its findings, the market will grow at a remarkable rate from 2016 to 2026.
From just under US$ 14.3 billion in 2017 to just under US$ 50.4 billion in 2026, the market for IP multimedia subsystems is anticipated to increase. Accordingly, the CAGR by the end of 2026 is expected to be 15%.
A major driver of the worldwide IP multimedia subsystem market's expansion is described as the rising use of shared service infrastructure. The use of IP multimedia subsystems in conjunction with the Internet and support for quality of service will probably also increase demand in the near future.
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According to the FMI analysis, there will be a growth opportunity of US$37,927.6 million in the global market for IP multimedia subsystems between 2016 and 2026. The market is expected to experience explosive growth as a result of people using instant messaging, multimedia, and conference services more frequently. Additionally, businesses are now utilising the IP multimedia subsystem to communicate in real-time with other business clients. Particularly in multimedia communication and integrated voice services, IP multimedia subsystems facilitate service expansion.
IMS services are being adopted by many network operators because they facilitate the integration of various media, points of access, and communication channels into a single network.
Top providers of IP multimedia subsystem solutions include Mitel Networks Corporation, Cirpack SAS, Italtel S.p.A., Cisco Systems, Inc., Huawei Technologies Co. Ltd., Du, IBM Corporation, ZTE Corporation, Etisalat, Ericsson Inc., Nokia Corporation, and MTN Irancell Telecommunication Services Company.
Key Highlights of the Report include:
- In 2016, revenues from the sale of mobile/wireless mode IP multimedia subsystem stood at US$ 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 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 internet and web-based services for managing online business applications, VoIP applications, VoLTE applications and others 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.
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 a 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
IP 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
By End User
- Internet Web Service
- Video Conferencing
- Video on Demand
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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