VoWiFi Market Size

VoWiFi Market Analysis

The VoWiFi Market size is estimated at USD 8.12 billion in 2024, and is expected to reach USD 18.63 billion by 2029, growing at a CAGR of greater than 18.06% during the forecast period (2024-2029).

As a natural step toward IP-based communication, most operators are expected to offer both VoWiFi and VoLTE services, which could improve indoor network coverage.

• The use of a WiFi network for voice services is known as "voice over WiFi" (VoWiFi). The WiFi network and the voice components that support the voice system are typically the end user's personal property. Mobile operators (Telcos) are attempting to take advantage of these potential business opportunities as more and more people become accustomed to WiFi technology by providing VoWiFi to homeowners and businesses. They also want to make their service available in more places by putting in faster broadband connections.
• The market is being driven by the elimination of the indoor coverage issue. For users, poor cellular reception in homes, workplaces, and stores is a serious problem. People with inadequate interior coverage may take extreme measures to receive a signal, such as leaning out of windows. VoWiFi enables customers to reliably place and receive calls, even while they are indoors, without having to upgrade their handsets or install new hardware.
• The proliferation of high-speed internet and increased accessability to broadband services have significantly impacted the market. China's internet population increased by 11 million in June 2023 compared to December 2022. According to Speedtest, as of April 2023, Qatar had the fastest average mobile internet connections globally, nearly 190 Mbps. The United Arab Emirates (UAE) and Macau followed, with each of these countries registering average median speeds above 170 Mbps.
• Maintenance, however, presents a challenge because carriers are not accountable for diagnosing and fixing WiFi networks. Residential WiFi users and corporate IT teams should be held accountable. Additionally, VoWiFi does not yet support E-911, which is restricting the market.
• Because of extensive lockdowns and the need to socially isolate oneself, the coronavirus (COVID-19) pandemic increased dependency on the Internet. It enabled family and friends to communicate, businesses and governments to operate, students to study, and patients to get healthcare services. This increased reliance on the Internet made it more important to both build out the Internet and close the digital divide.
• Due to the rising use of WiFi in homes for better call connectivity during the coronavirus disease (COVID-19) epidemic, the VoWiFi market experienced a surge in income creation. The rapid growth of the industry was also expected to be driven by the need for businesses to improve employee communication for smooth operations and the need to use cutting-edge technology like artificial intelligence (AI) and the Internet of Things (IoT).