Global Mobile Voice Market is valued at approximately USD 360 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2022-2028. Increased usage of mobile communication services across several business verticals such as IT and telecommunications, healthcare, and manufacturing is driving the global market. Operator expenditures in fibre infrastructure around the world, as well as technological improvements in the Voice over Internet Protocol (VoIP) business, the proliferation of digital gadgets, improved real-time communication interfaces, and apps have all contributed to a significant increase in data usage via wireless communication networks. As a result, instead of using personal computers, consumers are increasingly using wireless digital gadgets to obtain real-time data. In the foreseeable future, this is projected to boost the market. In recent years, the worldwide market has seen a number of significant mergers and acquisitions. Mergers and acquisitions are a strategic emphasis for major market corporations looking to extend their geographical footprint and comprehensive product offerings. For instance, Truecaller announced the launch of its VoIP (Voice over Internet Protocol) calling service, known as ’Truecaller Voice,’ in June 2019. Users can use mobile data or a Wi-Fi network to make voice calls with this functionality. The Truecaller Voice button in the app will allow users to make voice calls to their contacts on the same platform using their mobile data or Wi-Fi network. However, the mobile voice sector faces a problem due to the scarcity of high-speed networks. There are severe restrictions prohibiting the usage of VoIP services, which are the primary restraints on the growth of the mobile voice market. Whereas, rising trends in online marketing and advertising are expected to drive market growth over the next few years. Wireless communication technology has revolutionised communication, data exchange, and transaction techniques, ushering in a new digital economy.
The key regions considered for the global Mobile Voice market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America makes a considerable contribution to the worldwide market. Rising government initiatives and digital integration have had a big impact on the regional market. Furthermore, developments in 5G technology have helped the market’s expansion. However, the proliferation of mobile cellphones, the availability of high-speed internet services, and a huge consumer base helped Asia Pacific grab the greatest market share. Furthermore, prominent market players are taking important steps to enhance their market positions, which is driving the regional market even more. China and Japan have also emerged as prominent participants in the regional industry due to the availability of connectivity infrastructure.
Major market players included in this report are:
Verizon Communications Inc.
Nippon Telegraph and Telephone Corporation (NTT)
China Mobile Ltd.
Deutsche Telekom AG
SoftBank Group Corp.
China Telecom Corp Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Mobile Voice Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers