Global IP Multimedia Subsystem market size 2024, Forecast To 2033
4 Mar, 2024
The IP multimedia subsystem market size has grown rapidly in recent years. It will grow from $3.31 billion in 2023 to$3.77 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to the rise in OTT services, industry collaboration and standards, VoLTE implementation, telecom industry convergence, and rapid growth in mobile data traffic. The IP multimedia subsystem market size is expected to see rapid growth in the next few years. It will grow to $6.52 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to increasing demand for rich communication services (RCS), Internet of Things (IoT) expansion, cloud-based IMS solutions, virtualization and NFV integration, demand for enhanced multimedia services, and government initiatives and policies. Major trends in the forecast period include market competition and innovation, enterprise adoption for unified communications, mobile network operators' strategy, and service providers' focus on customer experience.
Global IP Multimedia Subsystem Market Key Driver
The IP multimedia subsystems market is poised for growth fueled by the increasing usage of multimedia applications across various sectors. Multimedia serves as a powerful tool for conveying ideas effectively, engaging audiences, and creating immersive environments. The IP multimedia subsystem facilitates seamless communication services within multimedia applications. For example, as reported by Asset Digital Communication in April 2021, approximately 71% of small-to-medium-sized businesses utilized social media, a form of multimedia, for marketing purposes. Thus, the surge in multimedia application usage is propelling the growth of the IP multimedia subsystems market, reflecting anticipated market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global IP Multimedia Subsystem Market ReportGlobal IP Multimedia Subsystem Market Segments
The global ip multimedia subsystem market covered in this report is segmented –
1) By Component: Product, Services
2) By Operators: Mobile operators, Fixed operators
3) By Application: Internet and Web Service, VoIP, SMS, Video Conferencing, Video on Demand, Other Application
4) By End User: Consumer, Enterprise
By Geography: The regions covered in the ip multimedia subsystem market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the IP multimedia subsystem market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ip multimedia subsystem market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major IP Multimedia Subsystem Industry Players
Huawei Technologies Co. Ltd., Cisco System Inc., Telefonaktiebolaget LM Ericsson, NEC Corporation, Nokia Corporation, Samsung Electronics Co. Ltd., ZTE Corporation, CommVerge Solutions Limited, International Business Machines Corporation, Ribbon Communications Inc., Oracle Corporation, Alcatel-Lucent S.A., BroadSoft Inc., Dialogic Corporation, Genband Inc., Italtel SpA, Mavenir Systems Inc., Metaswitch Networks Ltd., Radisys Corporation, Sonus Networks Inc., Technicolor SA, Telefónica SA, Telenity Inc., Tekelec Inc., Acme Packet Inc., Amdocs Inc., Avaya Inc., Comverse Inc., HP Inc., Juniper Networks Inc.
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IP Multimedia Subsystem Market Overview
The IP multimedia subsystem refers to a framework for delivering multimedia communications services over IP networks. The All-IP network serves as the foundation for the IP multimedia subsystem, and its primary purpose is to map and implement all communication services during switching and transfer.
IP Multimedia Subsystem Global Market Report 2023 provides data on the global ip multimedia subsystem market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ip multimedia subsystem market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.