3G and LTE to drive global mobile VoIP market: Technavio

The global mobile VoIP (mVoIP) market, which considered being fast-growing segment in the M2M and connected devices market, is predicted to post a remarkable CAGR of about 28%, to be driven by increasing use of 3G and the advent of LTE service, according to a report by Technavio.

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The report said that telecom operators worldwide foresee a massive opportunity in carrier aggregation and hence, are investing in the deployment of the LTE-A system.

“The deployment of such systems will clearly represent the penetration level of LTE systems and will account for the upsurge that can be expected in the global mVoIP market over the next four years,” Amit Sharma, one of the lead analysts at Technavio for ICT research, said.

Video sharing, screen sharing, file sharing, video and voice calls, instant messaging, CRM integration services, and virtual number service are the different product segments of the mobile VoIP market. Of these segments, the voice and video calls segment dominated this market in 2015 and is predicted to retain its hold over the market until 2020.

The global cellular M2M connections and services market is expected to grow significantly during the period 2016-2020, posting a CAGR of about 30% and 33% respectively, Technavio said.

One fast-moving trend captivating the market is the M2M platform consolidation, which offers a single and intuitive management platform for all M2M services and solutions. M2M platform consolidation solutions will aid in the development of new M2M solutions, which, in turn, will augment the growth of the global cellular M2M connections and services market in the coming years.