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Research Identifies Voice over 5G (Vo5G) Market Outlook and Opportunities for support of Next Generation Apps and Services

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Research Identifies Voice over 5G (Vo5G) Market Outlook and Opportunities for support of Next Generation Apps and Services

Mind Commerce Releases Findings of Vo5G Market Report: Smart Phones, Wearable Technology, IoT, Virtual Reality, Robotics, and Teleoperation

PR Newswire

SEATTLE, Aug. 28, 2018 /PRNewswire-PRWeb/ -- The fifth generation (5G) of cellular is poised to facilitate a fundamental shift in communications, applications, content, and commerce. This shift will include a massive transformation in terms of capacity availability as well as real-time communications and control. Voice will continue to be an essential component of virtually all solutions, which range from telepresence to tele-robotics.

Voice over 5G (Vo5G) will be realized through extension of certain existing infrastructure, such as IP Multimedia Subsystem (IMS), and introduction of new hardware and software, such as millimeter wave based 5G radio frequency equipment, often referred to as 5G New Radio (5G NR). Vo5G will take advantage of Voice over New Radio (VoNR), ultimately replacing Voice over LTE (VoLTE) as the preeminent technology for voice communications, and causing further displacement of 3G systems.

VoNR infrastructure is anticipated to become a $13.6 billion global market by 2023, growing at CAGR 65% from 2018 to 2023. While much attention is placed on the new 5G radio frequency interface, the backbone IMS infrastructure remains a key component for 5G. Accordingly, IMS equipment will grow at a brisk pace. For example, the global market for Vo5G driven Policy and Charging Control (PCC) solutions will witness incremental growth of $169.6 million between 2018 and 2023 at a 94.3% CAGR.

While Vo5G related infrastructure and devices will be the largest global revenue components through 2023, the market for Vo5G enabled applications and services will grow at a staggering 244.8% CAGR trough the period. These applications are wide-ranging and include Unified Communications (UC), Real-time Communications (including WebRTC), Telepresence, Augmented Reality, Virtual Reality (VR), and Mixed Reality, Tele-robotics control, and various Internet of Things (IoT) enabled applications and services.

North America will be the largest overall regional Vo5G market through 2023 at $29.1 billion, growing at 70.8% CAGR through the period. The Asia Pacific and Europe regions will grow at 77.7% and 69.3% CAGR respectively through 2023.

Voice over 5G (Vo5G) Market: 5G Voice support for Smart Phones, Wearable Technology, IoT, Virtual Reality, Robotics, and Teleoperation 2018 – 2023 evaluates the Vo5G market including companies, technologies, strategies, and solutions. The report assesses the market potential and outlook for many Vo5G supported applications and services including enhancements to existing solutions as well as completely new user experiences and use case scenarios. The report also evaluates how 5G will support various next generation immersive apps and services such as Virtual Reality. The report includes detailed Vo5G market forecasts for all major equipment, application, and industry segments for the 2018 to 2023 period.

About Mind Commerce

Mind Commerce is an information services company that provides research and strategic analysis focused on the Information and Communications Technology (ICT) industry. Our ICT reports provide key trends, projections, and in-depth analysis for infrastructure, platforms, devices, applications, services, emerging business models and opportunities.

We focus on key emerging and disintermediating technology areas for service providers, technology providers, developers (communications, applications, content, and commerce), systems integrators and consultants, government organizations and NGOs, and the financial community. Visit us at https://mindcommerce.com/

MEDIA: We welcome discussions about our research in support of your news article, blog, or professional industry portal.

Contact us via email at Contact@MindCommerce.com or Call: +1 877 646 3266

 

SOURCE Mind Commerce

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