The global mobile voice market size was valued at USD 360.2 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 5.6% from 2022 to 2028. The global market is primarily driven by increasing adoption of mobile communication services among various industry verticals such as IT and telecommunications, healthcare, and manufacturing. Technical advancements in Voice over Internet Protocol (VoIP) industry, and operator investments in fiber infrastructure across the globe. The proliferation of digital devices, enhanced interfaces for real-time communication, and apps have all contributed to a large growth in data use through wireless communication networks. As a result, people are increasingly likely to obtain real-time data via wireless digital devices rather than personal PCs. This is expected to drive the market in near future.
Over a couple of years, there is an increase in demand for mobile use cases in numerous vertical areas, such as healthcare, education, and financial services. Furthermore, market players can experiment with multiple approaches for obtaining market domination due to the rapid adoption of disruptive technologies such as the Internet of Things (IoT), 5G networks, and Artificial Intelligence (AI). Additionally, best practices such as solid network infrastructure, digital service innovation, and vertical industry collaboration are increasing revenue, assisting service providers in developing new business models, and enhancing end-user value.
The global market is predicted to witness significant growth over the forecast period due to the growing use of smart devices as means of communication and to establish real-time communication for individual and business communication. Consumer preferences are changing, and quick technical improvements have resulted in the creation of new operating systems and high-performance smartphones, which are projected to be a major driver of mobile voice market growth. Over the next several years, rising trends in online marketing and advertising are likely to fuel market expansion. Communication, data sharing, and transaction methods have all been changed by wireless communication technology, ushering in a new digital economy.
Companies will need internet access and a gigabit or high-speed infrastructure to meet the increased demand for connection among businesses and consumers, resulting in an increase in investment for ubiquitous broadband access. Furthermore, the growing adoption of the Bring Your Own Device (BYOD) trend and other mobility solutions is projected to accelerate the use of communication solutions like VoIP. BYOD has emerged as a growing trend in the global market in this new era of network accessibility and flexibility for consumers and business employees working for diverse firms across the globe, making the workplace more productive as companies migrate their business communication to the cloud and invest in infrastructure improvements.
COVID-19's remote work objectives are providing service providers with an unprecedented chance to promote software-based communications as a major facilitator of business continuity while also demonstrating the flexibility of communication services in terms of capacity changes and modern communication service delivery. Furthermore, due to the weak demand for telecom services for corporate and business applications, some large telecom operators such as AT&T Inc., Verizon Communications Inc., and NTT have reported decreased revenue growth in 2020. Furthermore, the global economy's considerable decrease has resulted in a reduction in consumer per capita income. As a result, non-essential purchases and services have been reduced. Thus, the COVID-19 pandemic had a moderate impact on market growth.
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. To minimize latency and increase data quality, the government and businesses are required to use wired networks to connect their offices. This boosts demand for wireline mobile voice services while opening new revenue streams for communication service providers.
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.
Asia Pacific captured the largest market share in 2021 and is expected to exhibit significant growth in the near future. The regional growth is mainly driven by increasing emphasis on wireless network infrastructure, adoption of cloud-based communication services among enterprises, and a large consumer base. As per the survey, the region is likely to attract more than half of the mobile subscribers in near future backed by vast consumer demand and regional technical sustainability. The regional market is expected to showcase strong growth followed by e-commerce growth, the advent of 5G technology, and smartphone ubiquity. China, Japan, and India have all contributed significantly to regional market expansion.
North America held a significant market share in 2021 on account of higher spending on smartphones and early adoption of advanced technologies. Given the large population and advent of technology among numerous industry verticals, wireless connectivity technologies have witnessed strong growth and are likely to revolutionize the industry sector in the United States and Canada. Furthermore, increased government initiatives on digital integration through ICT technologies are expected to drive market expansion in Europe.
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. Furthermore, key market participants are making significant investments in order to get the spectrum they require to supply next-generation services. With organic and inorganic growth methods, market participants will be able to improve their product and service portfolios and expand their subscriber base around the world. Some prominent players in the global mobile voice market include:
Verizon Communications Inc.
Nippon Telegraph and Telephone Corporation (NTT)
China Mobile Ltd.
Deutsche Telekom AG
SoftBank Group Corp.
China Telecom Corp Ltd.
Market size value in 2022
USD 374.4 billion
Revenue forecast in 2028
USD 528.4 billion
CAGR of 5.6% from 2022 to 2028
Base year for estimation
2017 - 2020
2022 - 2028
Revenue in USD million/billion and CAGR from 2022 to 2028
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Transmission, end-use, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Canada; U.K.; Germany; France; China; India; Japan; Brazil; Argentina; GCC; South Africa
Key companies profiled
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
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global mobile voice market report based on transmission, end-use, and region:
Transmission Outlook (Revenue, USD Billion, 2017 - 2028)
End-Use Outlook (Revenue, USD Billion, 2017 - 2028)
Regional Outlook (Revenue, USD Billion, 2017 - 2028)
Central & South America
Middle East & Africa
b. The global mobile voice market size was estimated at USD 360.2 billion in 2021 and is expected to reach USD 374.4 billion in 2022.
b. The global mobile voice market is expected to grow at a compound annual growth rate of 5.6% from 2022 to 2028 to reach USD 528.4 billion by 2028.
b. Asia Pacific dominated the mobile voice market with a share of 32.1% in 2021. This is attributable to increasing emphasis on wireless network infrastructure, adoption of cloud based communication services among enterprises, and large consumer base.
b. Some key players operating in the 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, and KT Corporation.
b. Key factors that are driving the mobile voice market growth include increasing adoption of mobile communication services among consumers, healthcare, and manufacturing, technical advancements in Voice over Internet Protocol (VoIP) industry, and operator investments in fiber infrastructure across the globe.
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