Market Trends of IP Multimedia Subsystem (IMS) Services Industry
Emergence of 5G Offers Potential Opportunities
- 5G technology is anticipated to transform telecommunications technology's role in society fundamentally. Moreover, it is also likely to enable the pervasive digitalization of a hyper-connected society, where all people are connected to the network whenever needed and to many other devices virtually, creating a society with everything connected.
- A 5G-ready IMS Core offers various significant advantages. A 5G IMS must usually be built cloud native using microservices methodologies, thereby affording numerous benefits, including containerized OS virtualization, which is more efficient than virtual machines.
- Additionally, 5G IMS can accommodate the rapid growth of various rich multimedia applications like OTT streaming of HD content, gaming, and augmented reality, among others, while enabling devices connected to the Internet of Things (IoT) to onboard the telecommunication backbone with high system spectral efficiency and ubiquitous connectivity.
- In July 2023, Mavenir, the provider of network software building the future of networks, especially with cloud-native solutions that run on any cloud, declared that the ENet, Guyana's significant provider of internet, television, and ICT solutions, has gone live with 4G and 5G voice and billing services nationwide, across Guyana. ENet's new network services are driven by Mavenir's Cloud-Native IMS and Mavenir's Digital Enablement Platform, a Digital Business Support System, and Converged Charging System.
- Moreover, 5G is expected to allow new use cases, such as smart agriculture, smart cities, logistics, and public safety agencies. As per GSMA, In 2025, it is estimated that around 21% of all connections worldwide will be 5G connections. Most of these would be found in North America, where 51 percent of all connections are forecasted to be 5G connections. Thus, the growth of 5G is expected to offer a massive opportunity for the IP multimedia subsystem (IMS) services market to flourish.
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Asia-Pacific to Register Highest Growth Rate
- The fastest-growing economic area in the world is the Asia-Pacific region. Smart technologies, including smart cities, autonomous vehicles, Internet of Things (IoT) applications, home automation, industrial automation, intelligent processing technologies, and others, are rapidly proliferating in the area. These crucial elements are anticipated to fuel the market expansion.
- Additionally, one of the biggest telecom marketplaces in the area is in India. Furthermore, the Internet and Mobile Association of India predicts that by 2025, there will be over 900 million active online users in India. Although there used to be a divide between active urban and rural internet users, the surge in technological advancements has closed that distance.
- Additionally, the Government of India has enabled telecom companies to grow. For instance, the government introduced its Digital India program under various sectors, such as healthcare, retail, etc., which are further expected to be connected through the Internet. As a result of these vital initiatives, the IP Multimedia Subsystem (IMS) services market is expected to grow drastically within the region.
- Asia Pacific is also one of the most significant markets for 5G, owing to the highly developing telecom sector and large customer base. Additionally, the region is heavily investing in the 5G market. Countries like India, China, Japan, Singapore, Australia, and South Korea are investing a hefty sum of money in developing the domestic 5G market, which is also anticipated to drive the market studied in the region.
- Moreover, China is witnessing various acquisitions, mergers, and investments by key major players as part of its strategy to improve its overall business and its presence to reach customers and meet their requirements for various applications. For instance, in December 2022, China Mobile and Ericsson jointly launched energy-efficient 5G sites to accelerate their energy conservation and carbon emission reduction efforts. Ericsson and China Mobile Jiangsu have launched a 5G smart site on the 700MHz band that does not produce carbon dioxide. Ericsson has also partnered with China Mobile Guangdong to launch an energy-efficient site on the 2.6GHz band.
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