High-Definition Voice Market Worth $2.29 Billion by 2019 - New Report by MarketsandMarkets
(PRWEB) October 02, 2014 -- According to new research report "High-Definition Voice Market by Application (Video Conferencing, Audio Conferencing, Web Conferencing, Multimedia Conferencing, Audio Broadcast, Announcement Services), by User Type (Enterprise User, Consumer) - Worldwide Market Forecasts and Analysis (2014 - 2019)" by MarketsandMarkets defines and segments the global High-Definition voice market into various sub-segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving the market, various restraints and opportunities impacting it along with the adoption trends.
Browse 78 market data tables and 59 figures spread throughout 175 pages and an in-depth TOC on “High-Definition Voice Market by Application (Video Conferencing, Audio Conferencing, Web Conferencing, Multimedia Conferencing, Audio Broadcast, Announcement Services), by User Type (Enterprise User, Consumer) - Worldwide Market Forecasts and Analysis (2014 - 2019)”
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In the recent years, mobile-broadband traffic has increased exponentially with the enhanced developments in network technology. The massive adoption of high-speed broadband services has been beneficial for telecom operators, with the emergence of enhanced sources of income for them. The biggest challenge for the High-Definition voice market is the increasing competition from Over-the-Top (OTT) players, and the lack of codec interoperability, which makes it difficult for telecom operators to offer traditional voice services. However, today operators are no longer the only entity dominating in the communication market. The explosive evolution of OTT players has introduced new entrants that provide voice services fundamentally free of cost. The competition from these big players further makes it difficult for small vendors to enter the High-Definition voice market.
The major factors driving this market are the increasing adoption of Voice over LTE (VoLTE), evidently changing voice usage models, growing popularity of softphone technology, and expansive on-going adoption by SMBs.
The explosive growth of OTT players is one of the restraints for the mobile operators along with limited accessibility and connectivity. Hence, cloud-based deployment services will prove to be more beneficial, and enable the operators to seize this opportunity by providing simpler solutions to enterprise users and consumers. Lower infrastructure development cost and disparity of services are another opportunity for organizations and small business units. The High-Definition voice services suite mainly focuses on the implementation of voice applications and services that precisely replicate the human voice.
Some of the benefits that High-Definition voice services offer to organizations include better understanding and clarity of voice, enhanced multi-cultural communication, and more precise transcripts.
Additionally, the benefits for the communications industry are numerous. For enterprise users and consumers, High-Definition voice uses IP-based voice communications and wide-band technology to offer high-end conferencing services.
MarketsandMarkets broadly segments the global High-Definition voice market by
• Regions as North America (NA), Asia-Pacific (APAC), Europe (EU), Middle East & Africa (MEA) and Latin America (LA)
• Applications as video conferencing, audio conferencing, web-conferencing, multimedia conferencing, audio broadcast, and announcement services
• Access type as mobile and broadband
• User type as enterprise user and consumer
MarketsandMarkets forecasts the Global High-Definition voice market to grow from $815.5 Million in 2014 to $2,296.6 Million in 2019. North America is expected to be the largest market in terms of market size, while Europe and Asia-Pacific are expected to experience an increase in market traction during the forecasted period.
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