According to market research report "IP MultimediaSubsystem (IMS) Market byComponent (Product and Service (Professional and Managed Service)), TelecomOperator (Mobile and Fixed Operators), and Region (North America, Europe, APAC,MEA, and Latin America) - Global Forecast to 2023", the IPMultimedia Subsystem (IMS) market size is expected to grow from USD 1.79billion in 2018 to USD 3.71 billion by 2023, at a Compound Annual Growth Rate(CAGR) of 15.7% during the forecast period.
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Low Capital Expenditure (CAPEX) and Operational Expenses (OPEX),increase in the Long-Term Evolution (LTE) mobile subscribers across the globe,and the growth of the network infrastructure are some of the major factorsdriving the IMS market.
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North America is expected to account for the largestmarket size and Asia Pacific to grow at the highest CAGR during the forecastperiod.
Among all regions, North America is expected to accountfor the largest market size during the forecast period, followed by Europe.North America is the house of big telecom giants. Mobile operators are rollingout new use cases, such as Rich Communication Services (RCS), Private LTE andwireless broadband using their networks. The US government has planned to rollout the Citizens Broadband Radio Service (CBRS) band for private operators andenterprises, in 2018, which would act as a catalyst for the growth of the IMSmarket. Hence, North America is expected to account for the largest marketshare in the global IMS market during the forecast period.
The APAC region is expected to register strong growth inthe coming years, as the majority of the mobile and fixed operators in the APACregion are still using traditional IMS solutions. However, this trend isexpected to change, as operators would eventually shift toward virtualized andcloud-based solutions.
Services segment is expected to be the faster-growingsegment during the forecast period.
Among components, the services segment is expected to holdthe larger market share during the forecast period. The overall servicessegment has a major influence on the IMS market’s growth. IMS services assistenterprises in reducing costs, lowering operational costs, increasing theoverall revenues, and improving the business performance.
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Mobile operator segment is expected to be a faster-growingsegment during the forecast period.
Under the telecom operators, the mobile operator’s segmentis expected to hold the larger market share and projected to grow a higher CAGRduring the forecast period. Mobile operators face several challenges, such asupdating the legacy systems to meet the current demands for end-customers,intense competition, high CAPEX and OPEX, and low Return on Investment (RoI).Hence, telecom operators seek scalable and cost-effective solutions. This isexpected to be the key reason for the rapid adoption of IMS solutions andservices by telecom operators.
The key and emerging vendors in the IMS market includeEricsson (Sweden), Huawei (China), NEC (Japan), Nokia (Finland), ZTE (China),Athonet (Italy), Cirpack (France), Cisco (US), CommVerge Solutions (China),Dialogic (US), Interop Technologies (US), Italtel (Italy), Metaswitch (UK),Mavenir (US), Oracle (US), Radisys (US), Ribbon Communications (US), Samsung(South Korea), and WIT Software (Portugal).
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