Market Size of High Definition HD Voice Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 21.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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High Definition HD Voice Market Analysis
The High Definition HD Voice market is expected to register a CAGR of 21.5% over the forecast period from 2021 to 2026. HD voice or wideband audio is one of the fastest-growing markets in the IP market. High Definition can sustain all types of applications, including video conferencing, web conferencing, multimedia conferencing, audio broadcast, audio conferencing, and announcement services. With HD voice, the user can experience more transparent natural-sounding voice quality with reduced background noise. The user can talk at the average voice level and be heard even in noisy environments. Conversations will sound more natural, almost as if the person at the other end of the line is sitting right next to the user.
- Increasing the adoption of 5G services and the VoLTE market will drive the growth of the market. Moreover, HD voice transforms voice communication and collaboration by infusing high fidelity services to smartphones such as telephones. For instance, SK Telecom, one of the largest mobile network in South Korea, has made progress in 5G by conducting the first live TV broadcast using Voice over 5G services. Additionally, Vo5G services can support different applications such as telepresence applications, AR, VR, remote robotics control, and numerous IoT-enabled services.
- Furthermore, the increasing demand for softphone technology, which supports the capability to make calls from a computer using a VoIP service, is fuelling this market's growth. However, the increasing rate of over-the-top (OTT) players and lack of codec interoperability are the major market restraints. For instance, 3GPP has specified that 5G must offer voice/video communication services based on the IMS, i.e., the IMS must be deployed for VoNR, VoeLTE, EPS FB, and RAT FB in 3GPP Release 15. Hence these upgrades not only increase the infrastructure cost but also restrict the growth of this market.
- The phone and carrier supporting HD voice calls sound significantly better than regular calls, but if the user uses a Bluetooth headset to make those calls, one does not get any of the benefits of HD voice because those devices don't support that codec. In January 2020, Qualcomm announced aptX Voice, an evolution of its existing aptX codec, to bring high-quality calls to your Bluetooth devices. AptX Voice is available on the Snapdragon 865 and 765 mobile platforms and will become available for accessories based on Qualcomm's upcoming range of Bluetooth Audio SoC that will launch in 2020.
- With the outbreak of COVID-19, video and audio conferencing have become the daily routine for work, and social life as people worldwide stay at home to avoid spreading the virus. This is expected to positively impact the HD Voice market as affordable HD Voice also improves worker productivity with more transparent communication, translating into more productive work experience. HD Voice also enhances the overall audio experience and encourages people to collaborate on the phone more efficiently and more often during the pandemic, especially across geographies where regional accents can cause fatigue and misunderstanding for those on both ends.
