New York, United States , Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Global IP Multimedia Subsystem IMS Market Size is to Grow from USD 2.71 Billion in 2023 to USD 9.23 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.04% during the projected period.
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The IP multimedia subsystem (IMS) is an open architecture standard built on the session initiation mechanism. It describes how applications and services are delivered to clients, regardless of the access network on which they run. IMS removes session control from the host application to maximize flexibility, while also standardizing the signaling and control layers, and also network-based and web-enabled applications and services. The IP multimedia subsystem (IMS) test and monitoring solutions market aims to ensure the longevity, dependability, and efficiency of IP-based multimedia communication networks. Additionally, 5G technology is predicted to have a big impact on telecommunications in society. It is expected to allow for the widespread digitalization of a hyper-connected society in which all people are virtually connected to the network and a range of various devices resulting in a society in which everything is connected. Compared to other systems, the IP multimedia subsystem is a less expensive choice. The cost-effectiveness of internet protocol (IP) multimedia subsystems (IMS) benefits both large and small organizations, which is another key factor driving market revenue growth. However, security problems in virtualization are a significant component that may limit industry revenue growth. When a system is connected to the internet, it raises the likelihood of cyberattacks and makes data more vulnerable to hackers, a risk that internal security systems do not often experience.
Browse key industry insights spread across 178 pages with 110 Market data tables and figures & charts from the report on the "Global IP Multimedia Subsystem IMS Market Size, Share, and COVID-19 Impact Analysis, By Component (Product and Services), By Mobile Operator (Mobile Operators and Fixed Operators), By End-Use Industry (Consumer and Enterprise), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The services segment accounted for the largest revenue share of the IP multimedia subsystem IMS market during the projected timeframe.
Based on the component, the IP multimedia subsystem IMS market is categorized into product and services. Among these, the services segment accounted to hold the largest revenue share of the IP multimedia subsystem IMS market during the projected timeframe. This is due to the necessity to provide various communication services including as audio, video, text, and data over several devices and networks using a standardized platform. IMS provides enhanced communication capabilities and services, including rich multimedia engagement, real-time video conferencing, presence-based services, and integrated messaging.
The mobile operators segment is anticipated to grow at the highest CAGR of the IP multimedia subsystem IMS market during the projected timeframe.
Based on the mobile operator, the IP multimedia subsystem IMS market is categorized into mobile operators and fixed operators. Among these, the mobile operators segment is anticipated to grow at the highest CAGR of the IP multimedia subsystem IMS market during the projected timeframe. Mobile operators have faced several challenges, such as upgrading advanced technology to match current end-user expectations, fierce rivalry, and large OPEX and CAPEX. Operators seek cost-effective and scalable solutions. One of the key drivers of the mobile operator market is increased investment in 5G infrastructure implementation as a result of changing customer preferences for smartphone devices and next-generation technology.
The enterprise segment is projected to hold a significant market share of the IP multimedia subsystem IMS market during the projected timeframe.
Based on the end-use industry, the IP multimedia subsystem IMS market is divided into consumer and enterprise. Among these, the enterprise segment is projected to hold a significant market share of the IP multimedia subsystem IMS market during the projected timeframe. IP multimedia subsystem IMS market enables businesses to merge many communication channels, such as audio, video, messaging, and presence, into a single platform. This integration not only increases productivity but also streamlines communication methods, allowing individuals to work together successfully regardless of location.
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North America is expected to hold the largest share of the IP multimedia subsystem IMS market over the forecast period.
North America is expected to hold the largest share of the IP multimedia subsystem IMS market over the forecast period. The region has a well-developed telecommunications infrastructure and a high adoption rate of advanced communication technologies. Major competitors in the IMS industry are based in North America, which contributes to the region's dominant position. The presence of leading technology companies, as well as extensive R&D operations, contributes to the region's market leadership. The CBRS (citizen's broadband radio service) spectrum will be made available to commercial operators and enterprises in North American countries as a result of expanding government initiatives. Individuals are accepting multimedia applications to better communication in response to the increasing use of smartphones in the United States. Government support is encouraging expansion in the North American market. Political leaders are emphasizing the expansion of current telecom networks to provide 5G network access capabilities.
Asia Pacific is predicted to grow at the fastest pace in the IP multimedia subsystem IMS market during the projected timeframe. Asia Pacific is also a significant market for 5G because of its fast expanding telecom sector and large client base. Furthermore, the region is heavily investing in the 5G business. In APAC economies, there has been a growth in the penetration of communications services, and also higher infrastructure investment by communication service providers. The Indian government is taking proactive steps to create possibilities for telecom companies to expand. In addition to retail, the Indian government has established the 'Digital India' program, which aims to integrate other sectors, including healthcare, via the internet.
The IP multimedia subsystem IMS industry in Europe is rapidly expanding. This is due to rising demand for multimedia services and the widespread adoption of LTE technology. LTE, or fourth generation (4G) technology, has emerged as the foundation for fast and reliable mobile communication. Its broad coverage and superior features make it an excellent IMS framework companion. Users in Europe have the right to smooth and effective multimedia communication due to the IMS-LTE synergy. For example, in February 2023, Virgin Media O2 announced that all O2 mobile customers have switched to their virtualized Internet Protocol (IP) Multimedia Subsystems (IMS) solution, which incorporates voice over LTE (VoLTE) and voice over Wi-Fi (VoWiFi).
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the IP multimedia subsystem IMS market are Huawei Technologies Co. Ltd., Cisco Systems Inc., Amdocs Ltd., Samsung Electronics Co., Ltd., IBM Corporation, Hewlett Packard Enterprise Co., Nokia Corporation, Ericsson AB, Nokia, ZTE Corporation, Athonet srl, Oracle Corporation, Reliance Industries Ltd., NEC Corporation, and Others.
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Recent Developments
- Ericsson and Canadian telecoms operator Videotron have signed a five-year agreement, expanding on their existing relationship. This collaboration aims to enhance Videotron's Evolved Packet Core (EPC) and IP Multimedia Subsystem (IMS) deployments. It comprises software, services, and support, proving both companies' dedication to innovation and superior service for mobile clients across Canada.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the IP multimedia subsystem IMS market based on the below-mentioned segments:
Global IP Multimedia Subsystem IMS Market, By Component
- Product
- Services
- Professional Services
- Consulting
- Integration and deployment
- Training and support
- Managed Services
Global IP Multimedia Subsystem IMS Market, By Mobile Operator
- Mobile Operators
- Fixed Operators
Global IP Multimedia Subsystem IMS Market, By End-use Industry
- Consumer
- Enterprise
Global IP Multimedia Subsystem IMS Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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