Mobile Voice Market Share, Major Drivers And Trends Report 2028

Mobile Voice Market Growth & Trends

The global mobile voice market size is expected to reach USD 528.4 billion by 2028, registering a CAGR of 5.6% in the forecast period, according to a new report by Grand View Research, Inc. The global market has benefited from rising in smartphone, penetration of high-speed internet across the globe, and integration of 5G technology. Companies have started integrating wireline communication solutions to strengthen internal business communication, reduce operating costs, and increase revenues. Due to rising demand for business communication solutions from both major organizations and SMEs, expanding trends of mobility and BYOD, and the advent of cutting-edge technologies such as artificial intelligence and machine learning, the mobile voice industry will continue to grow post-COVID-19.

U.S. mobile voice market size, by end-use, 2019 - 2028 (USD Billion)

Mobile Voice Market Segmentation

Grand View Research has segmented the global mobile voice market based on transmission, end-use, and region:

Based on the Transmission Insights, the market is segmented into Wireline and Wireless.

  • By transmission, the wireless segment accounted for around 75% of the market share and is expected to expand at a considerable CAGR from 2022 to 2028. The growth of the segment is mainly driven by the rising adoption of wireless communication solutions among consumers and enterprises to manage enterprise communication infrastructure. Over the forecast period, the market is predicted to benefit from a rise in the mobile workforce, as well as the emerging trends of Bring Your Own Device (BYOD) and the hybrid workplace model. The conventional work culture of utilizing desktop computers as the major mode of corporate communication is being replaced by smart gadgets. This is further expected to drive market growth.
  • Wireline mobile voice services captured a significant market share in 2021. The market for wireline services is fueled by rising demand for wired connections from the television and telecommunications industries, as well as an increase in the number of broadband and mobile internet connections. Instead of offering restricted services, wired telecommunication network services providers are changing to multi-function network systems that give clients additional services such as internet broadband and satellite television connection, resulting in a new service trend in the global market.

Based on the End-use Insights, the market is segmented into Consumer/Residential and Business.

  • The consumer/residential accounted for over 60% of the global market share in 2021 and is expected to maintain its dominance over the forecast period. Factors such as increased spending on 5G technology, a rise in the number of high-speed mobile phones, and establishing effective means of voice communications are expected to drive the growth of the market. Additionally, the spread of COVID-19 has further contributed to the growth of the market.
  • The business segment captured significant market share in terms of revenue in 2021. Increased company operations, as well as a growing number of cross-functional teams and remote employees, have forced companies to integrate communication solutions at the corporate level to ensure smooth communication practices. The need to have rapid meetings and keep coworkers informed about important tactics has accelerated the use of mobile voice services in the business segment.

Mobile Voice Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The global market has witnessed some major mergers and acquisitions in recent years. For significant market companies wanting to expand their geographical presence and comprehensive product offerings, mergers and acquisitions are a strategic focus.

Some of the prominent players operating in the global mobile voice market include,

  • AT&T Inc.
  • Verizon Communications Inc.
  • Nippon Telegraph and Telephone Corporation (NTT)
  • China Mobile Ltd.
  • Deutsche Telekom AG
  • SoftBank Group Corp.
  • China Telecom Corp Ltd.
  • Telefonica SA
  • Vodafone Group
  • KT Corporation

Order a free sample PDF of the Mobile Voice Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

South Africa Veterinary Medicine Market Size, Share, Revenue Analysis By 2028

Image
South Africa Veterinary Medicine Industry Overview The  South Africa veterinary medicine market  size is expected to reach USD 248.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.1% from 2021 to 2028. The market holds many opportunities to grow during the forecast period owing to the growing livestock and pet population, increasing consumption of meat, rising incidence of diseases in animals, and the presence of key global companies. According to a report published by the African Union/Interafrican Bureau for Animal Resources (AU/IBAR), MSD Animal Health leads the South African market for veterinary medicines, followed by other key companies. South Africa Veterinary Medicine Market Segmentation Grand View Research has segmented the South Africa veterinary medicine market on the basis of animal type, product, mode of delivery, and end-use: Based on the Animal Type Insights, the market is segmented i...
Read more

Fencing Market Competitive Landscape And Component Benchmarking 2030

Image
Fencing Market Growth & Trends The global  fencing market  size is anticipated to reach USD 44.39 billion by 2030, growing at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing need to safeguard agricultural assets and the aggressive investments being made by private companies in strengthening the security and enhancing the aesthetics of their premises are expected to drive the growth of the market over the forecast period. The growth of the  real estate market  and the increase in the number of remodeling projects being undertaken are expected to contribute to the growth of the market. Fencing Market Segmentation Grand View Research has segmented the global fencing market based on material, distribution channel, installation, application, end use, and region: Based on the Material Insights, the market is segmented into Metal, Wood, Plastic & Composite, Concrete. The metal segment accounted for ...
Read more

U.S. Cold Storage Market Distributor Analysis and Forecasts By 2030

Image
U.S. Cold Storage Market Growth & Trends The  U.S. cold storage market  size is estimated to reach USD 96.90 billion by 2030, expanding at a CAGR of 13.6% over the forecast period, according to the new research conducted by Grand View Research, Inc. The U.S. is widely regarded as one of the leading markets in developing technologies responsible for the effective management of cold storage processes. The pharmaceutical industry is expected to offer growth opportunities to the market. Inventory management of pharmaceutical goods, such as vaccines   and medicines, is an expensive process that necessitates adequate security measures to maintain product quality. Advanced cold storage technologies that offer beneficial features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly mitigate the possibility of wastage of temperature-sensitive goods. U.S. Cold Storage Market S...
Read more