Vo5G stands for voice services delivered over the fifth generation of mobile networking technologies. 5G services provide high-speed networks with low latency, increasing the adoption of 5G solutions as well as the use of 5G in a variety of services such as telephony over 5G.
Covid-19 Impact & Market Status
COVID-19 has the potential to have three main consequences on the global economy: directly affecting production and demand, disrupting supply chains and marketplaces, and affecting enterprises and financial markets financially. The purpose of the report is to provide a more detailed representation of the current circumstances, the economic slowdown, and the influence of COVID-19 on the total industry.
The global Voice over 5G (Vo5G) market is projected to reach USD 13,531.05 Million by 2028, growing at a CAGR of 55.77%
Almost every industry in the world has suffered a setback in the last 18 months. Severe interruptions in industrial and supply-chain operations have occurred as a result of various precautionary lockdowns and other restrictions imposed by governments around the world. Further, consumer demand has declined as people have become more focused on cutting non-essential expenses from their budgets as a result of the outbreak's negative impact on the general economic position of most people. Over the forecast period, the aforementioned factors are likely to weigh on the global Voice-over-5G (Vo5G) market's revenue trajectory. The global Voice-over-5G (Vo5G) business is likely to rebound as regional governing agencies begin to relax these enforced lockdowns.
M2M Connectivity Is Expected to Grow Significantly
With the rise in global data traffic, cellular-based M2M is introducing a communication procedure among different sim-enabled machines in order to give connectivity across many wireless networks. Many businesses will implement cellular M2M value-added services in 5G connection sims to maintain operational efficiency and reduce losses associated with operational breaches. The Internet of Things (IoT), outdoor autonomous robots for agriculture, and other potential technical developments will be supported by the 5G network. The expansion of the wireless M2M connections market is likely to be fueled by an increase in orders for embedded telematics in automobiles and Wi-Fi-based GPS trackers for remote fleet monitoring, as well as Bluetooth in-car connectivity for vehicle infotainment.
In the future, the integration of new high-power and low-power cellular networks, such as 5G, LTE-M, and NB-IoT, will make a mark in the M2M segment. The announcement of BSNL's cooperation with Tata Motors in January 2019 will enable the company to convert existing models such as the Tiago, Hexa, and the recently introduced SUV Harrier into smart cars. The state-owned telco has partnered with Tata Motors for a first-of-its-kind machine-to-machine (M2M) communications contract, in which the state-owned telco would supply embedded SIM cards to turn the automaker's vehicles into smart automobiles. Indian telecommunications companies are already working on sim m2m implementation. Vodafone Idea is collaborating with a huge ecosystem of partners to guarantee that eSIM is widely used, allowing for operational scalability and future-proofing of enterprise IoT deployments.
North America holds a substantial market share
By the end of next year, North American telecommunications carriers are estimated to account for over half of all global 5g connections. Some of the largest telecom companies in the world, including AT&T, Verizon, Ericsson, and others, are headquartered in the region, and they are constantly investing in expanding and improving their infrastructure to keep up with technological breakthroughs. Over the projection period, this is expected to enhance the usage of 5G connections.
Verizon was the first to establish a 5G network, and while its initial offering is based on a proprietary standard, the carrier expects to replace that network next year in the United States with standards-based equipment, which will help grow the 5G market more successfully. Furthermore, both fixed wireless access and mobile 5G services have already been introduced in the region by service providers. According to Ericcson's Mobility Report from June 2019, the area will have about 270 million 5G subscriptions, accounting for nearly 60% of all mobile subscriptions. This indicates that the region has a great deal of potential for 5G connections.
5G Commercialization is driving the Market Studied
Nokia launched North America's first commercially deployed, live, cloud-based 5G radio access network in 2019. Huawei and Festo signed a memorandum of understanding (MOU) in August 2017 to collaboratively investigate 5G network applications in the manufacturing industry and to support the digital transformation of the manufacturing industry using 5G network slicing technology. The major goal of this MoU was to test the Robot-as-a-Service idea, which is also a part of providing voice-based services in smart factories. With the support of Samsung's end-to-end 5G mm Wave solutions, including 5G New Radio (NR) base stations, Samsung Electronics and SK Telecom showcased the application of 5G technology for increasing live motor racing experiences in August 2019.
Since the first half of 2019, the same equipment has been in commercial use in the United States. The firms employed T Live Caster 5G, SK Telecom's live broadcasting service, to broadcast numerous perspectives of the race in real time using the live video streaming capacity. Samsung Electronics and KT Corporation signed an expansion contract in May 2019 to provide public safety (PS-LTE) network solutions based on the 3GPP standard Release 13 for ten major metropolitan areas in South Korea, including Seoul, by 2020.
Furthermore, the demand for voice-over-5G (Vo5G) is being influenced by a growth in business uses of 5G networks around the world. Vo5G supports ultra-high-definition voice communications, as well as enhanced voice capabilities.
Likewise, the voice-over 5G service is expected to replace Wi-Fi, resulting in increased demand for the voice-over-5G (Vo5G) market. Security concerns, as well as a lack of standards and protocols for the use of 5G, may stymie the expansion of the voice-over-5G (Vo5G) business. The voice-over-5G (Vo5G) market is expected to increase due to the rising demand for high-speed internet and the wide application of Vo5G in entertainment, healthcare, BFSI, and other industries.
Furthermore, continued technological improvements and the demand for constant connectivity are likely to propel the voice-over-5G (Vo5G) market forward in the coming years. The -Worldwide Voice-over-5G (Vo5G) Market Analysis to 2028' is a specialized and in-depth research of the voice-over-5G (Vo5G) business, with an emphasis on global market trend analysis.
During the projected period, the worldwide voice-over-5G (Vo5G) market is expected to rise rapidly. The research covers major trends and opportunities in the voice-over-5G (Vo5G) industry, as well as vital statistics on the market status of the leading voice-over-5G (Vo5G) market companies.
Nokia Networks, CISCO Systems Inc., Qualcomm Incorporated, Ericsson AB, Intel Corporation, Huawei Technologies Co. Ltd., SK Telecom Co. Ltd., AT&T Inc., China Mobile, and Verizon Communications are among the major players in the market described in the research.
Latest Innovations in the Voice-over-5G (Vo5G) Market: a Snapshot
- Verizon and Unity joined in January 2021 to create a high-speed, low-latency digital experience based on 5G, mobile edge computing, and real-time 3D technologies. The companies are working on a variety of experiences, ranging from entertainment apps to enterprise toolkits.
- Virgin Media and Vodafone teamed in December 2020 to provide 5G connection to customers in over 100 places across the UK. Vodafone's UK network began providing mobile connectivity to all Virgin Media mobile customers who upgraded to 5G.
Voice over 5G (Vo5G) Market Scope
|Revenue forecast in 2028
|USD 13,531.05 Million
|CAGR of 55.77% during 2018-2028
|By Application, By Technology, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|ZTE Corporation, Broadcom Limited, Intel Corporation, Motorola Solutions, Inc., Qualcomm Technologies, Inc., Texas Instruments Inc., Mitsubishi Electric Corporation, Keysight Technologies, Ericsson AB, and National Instruments.
Key Segments of the Global Voice-Over-5G (Vo5G) Market
Component Type Outlook (USD Million)
- 5G Base Station
- Macro Cell
- Small Cell
- Remote Radio Heads
- Baseband Units and RF Units
End-user Outlook (USD Million)
- Network management companies
- Application and service developers
- Communications service providers
- Research and development organizations
Application Outlook (USD Million)
- Wearable Technology
- Smart Phones
- Virtual Reality
Regional Outlook (USD Million)
- North America
- Asia Pacific
- Latin America