Portland, OR, Dec. 15, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global IP multimedia subsystem market generated $2.1 billion in 2020, and is expected to reach $7.2 billion by 2030, exhibiting a CAGR of 13.5% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
Rise in data traffic in global cellular networks and development in global cellular network infrastructure fuel the global IP multimedia subsystem market. On the other hand, longer deployment time for telecommunication infrastructure, high cost of installation, and maintenance of telecommunication equipment hinder the market. On the contrary, development in the field of telecom and rapid transformation of the telecommunications industry creates several lucrative opportunities.
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- The telecommunication sectors were responsible to maintain business continuity during the pandemic and hence did not face any major challenges. Moreover, the pandemic created shortage of raw materials and workforce.
- The interrupted global supply chain forced several telecommunications industry players to postpone their expansion.
- During the pandemic period, telecoms sector market players operating in sports and related domains suffered major losses, which negatively affected the global IP multimedia subsystem market.
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The report segments the global IP multimedia subsystem market on the basis of component, operators, and region.
Based on component, the product segment contributed to the highest market share in 2020, attributing to nearly four-fifths of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the services segment is expected to manifest the fastest CAGR of 14.6% from 2021-2030.
Based on operators, the mobile operators segment contributed to the highest market share in 2020, attributing to more than four-fourths of the total market share, and is anticipated to lead during the forecast period. The segment is expected to manifest the fastest CAGR of 13.7% from 2021-2030. The report also analyzes the fixed operators segment.
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Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is expected to lead during the forecast period. The global IP multimedia subsystem market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 15.5% during the forecast period.
Key players of the global IP multimedia subsystem industry analyzed in the research include Athonet srl, Cisco Systems, Inc., NEC Corporation, Cirpack, Ericsson, Huawei Technologies Co., Ltd., Oracle Corporation, Huawei Technologies Co., Ltd., International Business Machines Corporation, ZTE Corporation, and Nokia.
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