Voice-over-5G (Vo5G) Market Size, Share, Trends, Growth and Forecast 2032

Voice-over-5G (Vo5G) Market Insights

Zion Market Research has published a report on the global Voice-over-5G (Vo5G) Market, estimating its value at USD 14.75 Billion in 2023, with projections indicating that it will reach USD 4469.51 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 92.68% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Voice-over-5G (Vo5G) industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Voice over 5G is referred to as the voice services accessed via the fifth generation of mobile networking technologies. Moreover, 5G offers high speeds such as 10000 Mbits/ second or 10 Gb/seconds with reduced latency of nearly less than 1 millisecond. This has resulted in not only in enhancing the popularity of 5G solutions but also the application of 5G in myriad services such as voice over 5G services.

Furthermore, Vo5G is predicted to provide improved voice capabilities & it will support ultra HD voice communications. Reportedly, Vo5G will emerge from VoLTE to VoNR. In addition to this, Voice over 5G service is projected to substitute Wi-Fi service in the foreseeable future.

Market Growth Dynamics

Massive demand for high speed has resulted in the onset of 5G network technology. Moreover, the 5G technology is anticipated to deliver excellent real-time outcomes with huge data transfer speeds. Apart from this, 5G is anticipated to bring the paradigm shift in the telecom industry over the coming decade. Additionally, it is likely to play a pivotal role in the creation of breakthrough applications outside the wired infrastructure. Furthermore, applications such as Vo5G will impact the gaming, autonomous vehicle, VR, entertainment, healthcare, and AR industries over the coming years. All these aforementioned aspects are likely to steer the growth of the Voice-over-5G (Vo5G) Market during the forecast period.

Our study provides the breakthroughs witnessed in the industry and the competitive business strategies enforced by the industry players for expanding their business portfolio. Let us discuss a few of the strategic moves made by the reputed brands leveraging the voice-over-5G (Vo5G) industry growth.

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Qualcomm Technologies Inc. & ZTE Corporation Gain 5G Milestone Through Voice Over NR Call

In January 2020, Qualcomm Technologies and ZTE Corporation combined acquired 5G-driven voice over new radio call. In addition to this, the call complied with 3GPP release fifteen specifications over 2.5 Gigahertz spectrum band. It made the use of 5G new radio base stations of ZTE Corporation and 5G smartphone factor test equipment equipped or embedded with Qualcomm 5G ‘Snapdragon’ modern RF System.

IT & Telecommunication Segment To Contribute Majorly Towards End-Use Industry By 2025

The growth of the segment during the forecast period is credited to large-scale acceptance of 5G services along with an increase in the commercial applications of 5G networks across the globe.

Voice-over-5G (Vo5G) Market: Report Scope

Asia Pacific Market To Record Notable Surge During 2019-2025

The regional market surge over the forecasting years is attributed to the flourishing telecom industry along with the presence of a huge customer base across the region. In addition to this, firms in countries like Australia, China, Singapore, Japan, South Korea, and India are allocating a large proportion of funds for developing a 5G network and this will further boost the market trends in Asia Pacific zone over the coming years.

Key players profiled in the report include :

• Huawei Technologies Co. Ltd.
• AT & T Inc.
• Nokia Corporation
• Deutsche Telecom AG
• SK Telecom Co. Ltd.
• NEC Corporation
• Marvell Technology Group Ltd.
• MACOM Technology Solutions Inc.
• Fujitsu Limited
• SK Telecom Co. Ltd.

The global Voice-over-5G (Vo5G) Market is segmented as follows:

By Service Deployment

• Cloud-Based
• On-Premise

By End-User Industry

• IT & Telecommunication
• BFSI
• Transportation
• Digital Commerce
• Media & Entertainment

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa