As per a report by P&S Intelligence, the global voice over Wi-Fi (VoWiFi) market is predicted to reach a value of $22,801.2 million by 2030, from $2,035.3 million in 2019, and is expected to progress at a 24.5% CAGR during the forecast period (2020–2030). The market is growing robustly due to the availability of Wi-Fi hotspot across the globe and considerable enhancement in the quality of service (QoS) for users.
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This market research report provides a comprehensive overview of the VoWiFi market
- Historical and the present size of the VoWiFi market
- Future potential of the market through its forecast for the period 2020– 2030
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
In terms of end user, the VoWiFi market is divided into commercial and residential, between which, the residential division held the major share of the market during 2014–2019. The growing use of VoWiFi services in the residential sector is due to their benefits, including uninterrupted call service, even at places with weak or no cellular network.
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Geographically, Asia-Pacific is projected to grow at the fastest pace in the years to come, and within the region, China is dominating the market. This is due to the fact that the country has the largest VoLTE subscriber base and major telecom operators, including China Unicom, China Mobile, and China Telecom, are present in China.