The global Voice over Wi-Fi (VoWiFi) market size is projected to reach USD 7.03 billion in 2024 and USD 21.04 billion by 2029, growing at a CAGR of 24.5% during the envisioned period (2024 to 2029).
As people get used to Wi-Fi technology more and more, mobile operators (Telcos) aim to exploit these potential business opportunities by offering VoWiFi to residents and businesses, and they plan to expand the area of coverage of their service by setting up faster broadband connections. VoLTE is analogous to Voice over Internet Protocol (VoIP) service and supports voice calls over a broadband connection using Internet voice applications such as Skype and Vonage. These services offer three times more voice and data capacity than 3G UMTS and up to six times more than GSM 2G.
Voice over Wi-Fi (VoWiFi) uses a Wi-Fi network for voice services. In most cases, the Wi-Fi network and the voice components that support the voice system are the private property of the end users. These voice-over services allow mobile network operators to offer full voice, video, and messaging services. These services transmit voice in small data packets, thereby reducing congestion, increasing spectrum efficiency, reducing operating and maintenance costs, and supporting instant messaging and language translation in real time. VoWiFi services are available to smartphone and tablet customers using OTT (over-the-top) services. As VoLTE consolidates, network device OEMs are strategizing to implement an increasing number of VoIP clients complementary to Wi-Fi on the terminal chipset. This integrated client will allow the complementary use of VoLTE and VoWiFi technologies to make voice calls with just one click.
Global Voice over Wi-Fi (VoWiFi) Market Drivers:
The increasing investments by leading players and the availability of high-speed broadband connections will likely propel the growth of the global voice-over Wi-Fi market in the coming years. Potential downsides expected to slow the growth of the global VoWiFi market include the need for a transmitter and receiver (i.e., communication devices) that support this technology. For instance, in India, the government aims to install 10 million Wi-Fi access points by 2022 to facilitate public data offices. It has established five access points for public services in each of the 250,000-gram panchayats or village blocks. BSNL has installed 25,000 Wi-Fi access points as part of a government program, which it intends to complete by the end of the current fiscal year in 2019, which could increase the VoWiFi market. Increasing the number of Wi-Fi access points can also help operators free up their spectrum, as users can use Wi-Fi access points to make a call instead of using the operator's network. Thus, operators can save their investments.
Public Wi-Fi hotspots are gaining popularity and is a notable trend in the global market. A general access network allows users to continue having access to make calls without needing a nearby cell tower. In addition to covering places with poor cellular reception, the existence of public Wi-Fi access points requires more VoWiFi. This further encourages users to use public Wi-Fi, especially in remote areas, where mobile networks are worse than in urban areas. Operators are likely to take advantage of the availability of Wi-Fi to use VoWiFi and extend coverage, especially indoors and in areas with poor cellular coverage, to reduce the churn rate, which could enhance market growth. In the future.
Global Voice over Wi-Fi (VoWiFi) Market Restraints:
Despite tremendous expansion, the Global Voice over Wi-Fi (VoWiFi) industry has its share of challenges and restrictions. One key drawback is the dependence on stable and high-speed Wi-Fi networks. The smooth operation of VoWiFi services relies heavily on the availability of strong and consistent wireless connectivity, in regions or areas with inadequate Wi-Fi infrastructure or areas prone to frequent signal disruptions, the quality of VoWiFi calls may be compromised, hindering user experience.
Impact of Covid-19 on voice over Wi-Fi (VoWiFi) market:
The Voice over Wi-Fi (VoWiFi) market has shown an increase in revenue generation during the Coronavirus Disease (COVID-19) pandemic due to the increasing use of Wi-Fi in homes for better call connectivity. In addition, the industry will experience rapid growth in the coming years due to the growing need for organizations to establish effective communication with employees for smooth operation and integration of novel technologies like artificial intelligence (AI) and the Internet of Things (IoT).
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
24.5% |
Segments Covered |
By Technology, Voice Client, Device Type, End User, and Region |
Various Analyses Covered |
Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Huawei Technologies Co. Ltd., Nokia Solutions and Networks, Verizon Wireless (Verizon Communications), Ericsson, Aptilo Networks, Alcatel-Lucent SA, LG Uplus Corporation, MetroPCS Communications, Inc., AT&T, Inc., KT Corporation and Mitel Networks Corporation and Others. |
The global Voice over WiFi (VoWiFi) market can be segmented based on technology, voice client, device type, end-user, and region.
Global Voice over Wi-Fi (VoWiFi) Market - By Technology:
VoLTE or voice over LTE is expected to represent a significant share, as the technology segment requires a higher bandwidth allocation than its peer technologies.
Global Voice over Wi-Fi (VoWiFi) Market - By Voice Client:
Global Voice over Wi-Fi (VoWiFi) Market - By Device Type:
Global Voice over Wi-Fi (VoWiFi) Market - By End - User:
Global Voice over Wi-Fi (VoWiFi) Market – By Region:
The global Voice over Wi-Fi (VoWiFi) market is growing in the Asia-Pacific, Europe, North America, South America, and the Middle East and Africa regions. North America has a significant market share as a result of the region's growing number of Wi-Fi users with each passing year and the early adoption of the IP Multimedia Subsystem (IMS).
KEY MARKET PARTICIPENTS:
The leading players in the global VoWiFi market are Huawei Technologies Co. Ltd., Nokia Solutions and Networks, Verizon Wireless (Verizon Communications), Ericsson, Aptilo Networks, Alcatel-Lucent SA, LG Uplus Corporation, MetroPCS Communications, Inc., AT&T, Inc., KT Corporation and Mitel Networks Corporation.
RECENT HAPPENINGS IN THE MARKET:
FAQ's
As of the latest available data, the Global VoWiFi Market is estimated to be worth USD 7.03 billion.
The VoWiFi market experiences substantial growth in North America, Asia-Pacific, and Europe, with North America leading in market share.
The increasing adoption of smartphones, the demand for cost-effective communication solutions, and the proliferation of wireless networks are key drivers of VoWiFi market growth.
Projections suggest continued growth due to advancements in wireless technology, increasing internet penetration, and the rise in remote work trends.
Challenges include interoperability issues, concerns about security and privacy, and varying regulations across different regions.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]