Voice Over New Radio Market To Reach $83.09 Billion By 2030

Voice Over New Radio Market Growth & Trends

The global voice over new radio (VoNR) market size is expected to reach USD 83.09 billion by 2030, growing at a CAGR of 50.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Voice over new radio technology utilized 5G network to provide voice calling services. The growing demand for high-clarity calling with lower latency will drive the market’s growth.

Telecom operators are focusing on phasing out their legacy networks, such as 2G/3G, to pave the way for 5G. Phasing out older-generation networks can lower costs and free up the spectrum for new-generation networks. The growing investments in deploying 5G networks to provide customers with enhanced data and voice services are anticipated to propel the market’s growth.

The 5G network has been released in most parts of the world. As the number of 5G users increases exponentially, the existing non-standalone 5G network will be insufficient for the growing demand. Hence, telecom operators are focusing on deploying 5G standalone networks that can cater to the growing demand for 5G. With 5G standalone networks being deployed, the next natural step is VoNR. Telecom operators are investing heavily to upgrade their networks and offer the best 5G services, including VoNR, to their customers, which is anticipated to drive the VoNR market’s growth over the forecast period.

However, the deployment of VoNR depends on a 5G standalone network. 5G standalone network infrastructure does not rely on old infrastructure. Hence the building and implementation costs of 5G standalone networks are high. Additionally, 5G was launched as a data service, hence adding the voice component on the 5G network requires additional components leading to even higher costs. The high cost of VoNR deployment is proving to hinder the market.

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Voice Over New Radio Market Report Highlights

• The solution segment is expected to grow significantly over the forecast period. Providing VoNR requires the implementation of IMS, which is an IP Multimedia Subsystem solution. Integrating this solution on the 5G network can facilitate voice services over the 5G network, driving the adoption of the IMS solution, thus driving the segment’s growth

• The public cloud segment is anticipated to grow significantly over the forecast period. Features of the public cloud, such as cost-effectiveness, high scalability, and low maintenance, contribute to the segment’s growth

• The smartphone segment is anticipated to witness significant growth over the forecast period. Rising smartphone penetration and increasing demand for 5G internet and voice services from consumers contribute to the segment’s growth

• Asia Pacific is anticipated to register significant growth over the forecast period. The regional growth can be attributed to numerous VoNR providers and a substantial consumer base. Furthermore, early VoNR trials in China and South Korea amplify the potential for growth in the Asia Pacific VoNR market

Voice Over New Radio Market Segmentation

Grand View Research has segmented the global voice over new radio market based on component, deployment, end-use devices, and region.

VoNR Component Outlook (Revenue, USD Million, 2022 - 2030)

• Hardware

  • 5G RAN

  • 5G Core

  • Others

• Solution

• Services

VoNR Deployment Outlook (Revenue, USD Million, 2022 - 2030)

• Private Cloud

• Public Cloud

• Hybrid Cloud

VoNR End-use Devices Outlook (Revenue, USD Million, 2022 - 2030)

• Smart Phones

• Outdoor CPE

• Indoor CPE

VoNR Regional Outlook (Revenue, USD Million, 2022 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • Switzerland

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

• Middle East & Africa

  • Kingdom of Saudi Arabia (KSA)

  • UAE

  • Kuwait

List of Key Players in the Voice Over New Radio Market

• T?Mobile USA, Inc.

• Telefónica Deutschland

• STC

• Zain

• Jio Platforms Limited

• ADVANCED INFO SERVICE PLC.

• Nokia Corporation

• Telefonaktiebolaget LM Ericsson

• Qualcomm Technologies, Inc.

• Huawei Technologies Co., Ltd.