Global Voice-over-5G (Vo5G) Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Service Deployment;
Cloud-Based and On-Premise.By End-User Industry;
IT & Telecommunication, Retail , BFSI, Transportation, Media & Entertainment, and Other.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Voice-over-5G (Vo5G) Market (USD Million), 2021 - 2031
In the year 2024, the Global Voice-over-5G (Vo5G) Market was valued at USD 25,710.39 million. The size of this market is expected to increase to USD 1,726,961.18 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 82.4%.
The Global Voice-over-5G (Vo5G) Market is poised for significant growth and transformation as the telecommunications industry ushers in the era of 5G technology. Voice-over-5G (Vo5G) represents a crucial component of the 5G ecosystem, promising enhanced voice communication capabilities over the ultra-fast and low-latency 5G networks. With the deployment of 5G infrastructure accelerating worldwide, the Vo5G market is witnessing a surge in demand driven by the need for high-quality voice services in conjunction with other data-intensive applications.
One of the key drivers propelling the Vo5G market is the unparalleled speed and reliability offered by 5G networks. With data transfer rates up to 100 times faster than 4G LTE networks and significantly reduced latency, Vo5G enables seamless and high-definition voice calls, video conferencing, and multimedia streaming experiences. Moreover, the advent of advanced technologies such as beamforming and network slicing further enhances the efficiency and reliability of Vo5G services, catering to the evolving communication needs of businesses and consumers alike.
The market for Voice-over-5G (Vo5G) is characterized by intense competition and a landscape dominated by major telecommunications equipment manufacturers, network operators, and technology providers. Companies such as Qualcomm Incorporated, Ericsson AB, Nokia Corporation, and Huawei Technologies Co., Ltd., among others, are investing heavily in research and development to innovate and deploy Vo5G solutions. Additionally, collaborations between telecom operators and technology vendors to pilot Vo5G trials and commercialize services are becoming increasingly common. As the global rollout of 5G networks accelerates, the Vo5G market is expected to witness robust growth, revolutionizing voice communication and paving the way for a new era of connectivity.
Global Voice-over-5G (Vo5G) Market Recent Developments
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In August 2017, Huawei signed a memorandum of understanding (MOU) with Festo, to jointly explore the 5G network application in the manufacturing industry and to promote the digital transformation of the manufacturing industry with the 5G network slicing technology. This MoU was mainly based on 5G cloud robotics to test the Robot,as,a,Service (RaaS) concept, which is also a part of offering voice,based services in smart factories.
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In August 2019, Samsung Electronics and SK Telecom demonstrated the use of 5G technology for enhancing live motor racing experiences, with the help of Samsung’s end,to,end 5G mmWave solutions, including 5G New Radio (NR) base stations. The same equipment has been in commercial operation in the United States since the first half of 2019. The companies used the live video streaming capability to broadcast multiple views of the race in real,time over T Live Caster 5G, SK Telecom’s live broadcasting solution.
Segment Analysis
The global Voice over 5G (Vo5G) market is rapidly expanding, driven by the ongoing deployment of 5G networks and the increasing demand for faster, more reliable communication solutions. The market is segmented by service deployment and end-user industry, with both segments playing critical roles in the growth and adoption of Vo5G technologies. By service deployment, the market is divided into cloud-based and on-premise solutions. Cloud-based Vo5G services are gaining popularity due to their scalability, flexibility, and cost-effectiveness, offering businesses the ability to access high-speed voice and data services without the need for extensive infrastructure investments. Cloud deployments also provide the advantage of seamless updates and integrations, making them ideal for dynamic, fast-changing industries. On-premise Vo5G solutions, on the other hand, are preferred by organizations that require greater control over their networks and data, such as large enterprises or those in sectors with stringent security and privacy requirements. These solutions ensure high levels of data control and compliance, making them particularly appealing in industries like BFSI (banking, financial services, and insurance) and IT & telecommunication.
By end-user industry, the Vo5G market spans several sectors, including IT & telecommunications, retail, BFSI, transportation, media & entertainment, and others. In the IT & telecommunications sector, Vo5G offers enhanced connectivity, ultra-low latency, and high-quality voice communication, enabling businesses to deliver superior customer experiences, support mission-critical applications, and drive the next generation of communications services. In retail, Vo5G enables advanced customer service applications, such as interactive voice responses and real-time customer engagement, enhancing the shopping experience. The BFSI industry benefits from Vo5G for secure, real-time communication, improving customer service, fraud detection, and enabling voice authentication for secure transactions. In transportation, Vo5G is being used for vehicle-to-vehicle (V2V) communication, offering high-speed, low-latency communication for safety, navigation, and traffic management systems. Media & entertainment sectors are leveraging Vo5G for enhanced live-streaming, gaming, and immersive experiences, providing higher-quality audio and video services.
As the adoption of 5G networks continues to grow, the Vo5G market is poised to expand rapidly across these diverse industries, driven by the promise of enhanced voice communication capabilities, real-time data exchange, and improved user experiences. The combination of cloud and on-premise solutions, along with industry-specific applications, will continue to fuel the market’s growth, making Vo5G a key technology in the future of mobile communications.
Global Voice-over-5G (Vo5G) Market Analysis
In this report, the Global Voice-over-5G (Vo5G) Market has been segmented by Service Deployment, End-User Industry and Geography.
Global Voice-over-5G (Vo5G) Market, Segmentation by Service Deployment
The segmentation of the Global Voice-over-5G (Vo5G) Market by service deployment into cloud-based and on-premise solutions.
Cloud-based deployment offers scalability, flexibility, and cost-effectiveness, making it an attractive option for organizations seeking to leverage Vo5G technology without significant upfront investments in infrastructure. Cloud-based Vo5G solutions enable seamless integration with existing IT systems and applications, facilitating rapid deployment and updates. This deployment model is particularly appealing to small and medium-sized enterprises (SMEs) looking to harness the power of Vo5G technology without the burden of managing complex infrastructure.
On the other hand, on-premise deployment provides greater control, customization, and security, catering to organizations with specific regulatory requirements or data sensitivity concerns. Large enterprises and government agencies often prefer on-premise Vo5G solutions to maintain data sovereignty and compliance with industry regulations. On-premise deployment allows organizations to tailor Vo5G implementations to their unique needs, ensuring optimal performance and reliability. While on-premise solutions may require higher initial investments in hardware and maintenance, they offer greater autonomy and control over data management and security, which is crucial for certain industries such as healthcare, finance, and defense.
The choice between cloud-based and on-premise deployment depends on various factors, including organizational size, industry regulations, data privacy concerns, and budgetary constraints. Some businesses may opt for a hybrid approach, combining both cloud-based and on-premise Vo5G solutions to maximize flexibility, scalability, and security. As the Vo5G market continues to evolve, service providers are expected to offer innovative deployment options that address the diverse needs of customers, driving further adoption of Vo5G technology across industries and geographies.
Global Voice-over-5G (Vo5G) Market, Segmentation by End-User Industry
The Global Voice-over-5G (Vo5G) Market is segmented by end-user industry into IT & Telecommunication, Retail , BFSI, Transportation, Media & Entertainment and Other.
The IT & Telecommunication sector stands as a frontrunner in embracing Vo5G due to its intrinsic reliance on high-speed connectivity and real-time communication. Telecom operators are leveraging Vo5G to enhance network capabilities, support innovative services like augmented reality (AR) and virtual reality (VR), and cater to the increasing demand for seamless connectivity in an ever-evolving digital landscape. Additionally, the integration of Vo5G enables telecom companies to offer advanced voice services with enhanced quality and reliability.
In the retail sector, Vo5G holds immense potential to revolutionize customer experiences and operational efficiencies. Retailers are exploring Vo5G-powered solutions to enable immersive shopping experiences through AR/VR technologies, facilitate real-time inventory management, and enhance in-store communication systems. By leveraging Vo5G, retailers can deploy ultra-fast and reliable connectivity solutions to support various applications such as mobile payments, personalized marketing, and smart logistics, thereby driving customer engagement and loyalty in an increasingly competitive market landscape.
The BFSI (Banking, Financial Services, and Insurance) sector is another significant adopter of Vo5G technology, driven by the need for secure and high-speed communication solutions. Vo5G enables financial institutions to deliver enhanced customer services through real-time video banking, voice authentication, and secure data transmission. Moreover, the low latency and high bandwidth capabilities of Vo5G facilitate seamless transaction processing, improve trading operations, and strengthen cybersecurity measures. By harnessing Vo5G technology, BFSI organizations can unlock new opportunities for innovation, streamline operations, and deliver superior customer experiences in an increasingly digital-centric financial landscape.
Global Voice-over-5G (Vo5G) Market, Segmentation by Geography
In this report, the Global Voice-over-5G (Vo5G) Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Voice-over-5G (Vo5G) Market Share (%), by Geographical Region, 2024
The Global Voice-over-5G (Vo5G) Market exhibits varying geographical distribution of market share, reflecting the diverse adoption rates and infrastructure development across regions. North America leads the Vo5G market, capturing a significant share due to early deployments of 5G networks and robust investments by major telecommunications companies. The region benefits from a tech-savvy population, favorable regulatory environment, and strong consumer demand for high-speed connectivity. Key players such as Qualcomm, Verizon, and AT&T are driving innovation and market penetration in North America, making it the largest contributor to the global Vo5G market with a share of around 35%.
Europe follows closely behind North America in Vo5G market share, accounting for approximately 30% of the global market. European countries are rapidly rolling out 5G infrastructure, supported by collaborative efforts between telecom operators, regulatory bodies, and technology vendors. Countries like the UK, Germany, and France are at the forefront of 5G deployment, driving adoption in various sectors such as automotive, healthcare, and manufacturing. Companies like Ericsson, Nokia, and Vodafone play pivotal roles in shaping the European Vo5G market landscape, emphasizing innovation and sustainability in network development.
Asia-Pacific emerges as a key growth engine for the Vo5G market, representing around 25% of the global market share. The region is characterized by rapid urbanization, expanding digital economies, and increasing demand for high-bandwidth applications. Countries like China, South Korea, and Japan lead the way in 5G adoption, supported by extensive government initiatives and investments. Chinese telecommunications giants Huawei and ZTE dominate the Vo5G market in Asia-Pacific, leveraging their technological expertise and market influence. With the proliferation of smartphones and IoT devices, coupled with rising consumer expectations for seamless connectivity, the Asia-Pacific region is poised for significant growth in Vo5G adoption across industries.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Voice-over-5G (Vo5G) Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Faster Data Speeds
- Improved Call Quality
- Low Latency Communication
- Enhanced User Experience
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Network Efficiency Gains : Network efficiency gains in the Global Voice-over-5G (Vo5G) market are pivotal to its growth and adoption. Vo5G leverages the advanced capabilities of 5G networks, which are designed to provide significantly higher data transfer rates and lower latency compared to previous generations. This results in a more efficient use of network resources, allowing operators to handle higher volumes of voice and data traffic without compromising quality. The enhanced efficiency of Vo5G networks enables better spectrum utilization, reducing congestion and improving the overall performance of mobile communication services. This efficiency is crucial for supporting a wide range of applications, from high-definition voice calls to seamless video conferencing, thereby enhancing the user experience.
Another aspect of network efficiency gains in the Vo5G market is the integration of advanced technologies such as network slicing and edge computing. Network slicing allows operators to create multiple virtual networks within a single physical 5G infrastructure, each tailored to specific requirements of different services or user groups. This ensures that voice services receive the necessary bandwidth and priority, leading to improved reliability and reduced latency. Edge computing further boosts efficiency by processing data closer to the user, minimizing the distance that data must travel and reducing latency. These technologies collectively enable more efficient network management and resource allocation, ensuring that Vo5G services are consistently high-performing and responsive.
Furthermore, the efficiency gains from Vo5G have significant implications for the broader telecommunications ecosystem. By optimizing network performance and reducing operational costs, service providers can offer more competitive pricing and innovative service packages to consumers. This can accelerate the adoption of Vo5G, driving growth in the market and encouraging further investment in 5G infrastructure. Additionally, the improved efficiency supports the proliferation of IoT devices and smart city applications, which rely on robust, low-latency communication networks. As a result, Vo5G not only enhances current voice communication services but also lays the groundwork for future technological advancements and applications, contributing to the overall evolution of the telecommunications industry.
Restraints:
- High Deployment Costs
- Infrastructure Limitations
- Spectrum Allocation Issues
- Compatibility Challenges
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Regulatory Uncertainties : Regulatory uncertainties present significant challenges in the Global Voice-over-5G (Vo5G) Market, affecting the pace and uniformity of 5G deployment worldwide. One of the primary concerns is the lack of standardized global regulations governing the use of 5G technologies. Different countries have varying approaches to spectrum allocation, licensing requirements, and safety standards, which can lead to fragmented market conditions. This fragmentation can hinder multinational corporations from developing uniform Vo5G strategies and technologies, slowing down the overall adoption and integration of Vo5G services.
Additionally, the security and privacy regulations surrounding 5G networks are still evolving, adding another layer of complexity. Governments are increasingly concerned about the potential vulnerabilities that come with the enhanced capabilities of 5G networks. These concerns have led to stringent regulatory scrutiny and, in some cases, bans on equipment from certain manufacturers deemed to pose security risks. This regulatory landscape creates uncertainty for companies investing in Vo5G, as they must navigate a patchwork of security requirements and potential geopolitical tensions that can impact their operations and supply chains.
Moreover, the regulatory environment is also shaped by the ongoing debates about net neutrality and data governance. As 5G networks are expected to handle unprecedented amounts of data with high efficiency, regulators are under pressure to ensure that these networks are managed in a fair and transparent manner. Decisions around data prioritization, usage policies, and fair access can significantly impact how Vo5G services are offered and priced. The uncertainty surrounding these regulatory decisions can deter investment and innovation in the Vo5G market, as companies may be hesitant to commit resources without clear guidelines and assurances from regulators.
Opportunities:
- Expanding Rural Connectivity
- Innovative Service Offerings
- Healthcare Advancements
- Remote Work Adoption
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Enhanced AR/VR : Enhanced Augmented Reality (AR) and Virtual Reality (VR) experiences are poised to undergo a paradigm shift with the advent of Global Voice-over-5G (Vo5G) technology. With 5G's ultra-low latency and high bandwidth capabilities, AR/VR applications will achieve unprecedented levels of realism, immersion, and interactivity. These advancements will revolutionize various industries, including gaming, entertainment, education, healthcare, and manufacturing. Imagine surgeons performing intricate procedures remotely using AR-assisted guidance or students exploring ancient civilizations through immersive VR field trips. Vo5G will unlock the full potential of AR/VR technologies by delivering seamless, high-fidelity experiences that were previously hindered by latency and bandwidth constraints.
In the gaming and entertainment sectors, Vo5G-powered AR/VR experiences will offer unparalleled levels of immersion and interactivity. Gamers can enjoy lag-free multiplayer experiences with lifelike graphics and real-time interactions, blurring the lines between virtual and physical worlds. Content creators will leverage Vo5G's high-speed connectivity to deliver high-definition 3D videos and immersive VR concerts, enhancing audience engagement and revenue streams. Moreover, Vo5G's low latency will enable real-time streaming of AR content, allowing users to overlay digital information seamlessly onto their surroundings, whether for gaming, navigation, or advertising purposes.
In the enterprise realm, Vo5G-enabled AR/VR applications will drive innovation and efficiency across various sectors. From remote training simulations for employees in hazardous environments to virtual product prototyping and design collaboration, organizations will harness the power of immersive technologies to streamline workflows and reduce costs. For example, architects and engineers can collaborate on construction projects in real-time using VR-enabled design reviews, while factory workers can receive hands-free AR instructions for complex assembly tasks. Enhanced AR/VR in the Vo5G era will redefine how businesses operate, communicate, and innovate, paving the way for a new era of digital transformation and productivity gains.
Competitive Landscape Analysis
Key players in Global Voice-over-5G (Vo5G) Market include:
- Qualcomm Incorporated
- Ericsson AB
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- Huawei Technologies Co., Ltd.
- ZTE Corporation
- Cisco Systems, Inc.
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Service Deployment
- Market Snapshot, By End-User Industry
- Market Snapshot, By Region
- Global Voice-over-5G (Vo5G) Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Faster Data Speeds
- Improved Call Quality
- Low Latency Communication
- Enhanced User Experience
- Network Efficiency Gains
- Restraints
- High Deployment Costs
- Infrastructure Limitations
- Spectrum Allocation Issues
- Compatibility Challenges
- Regulatory Uncertainties
- Opportunities
- Expanding Rural Connectivity
- Innovative Service Offerings
- Healthcare Advancements
- Remote Work Adoption
- Enhanced AR/VR
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- CompetitiveRivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Voice-over-5G (Vo5G) Market, By Service Deployment, 2021 - 2031 (USD Million)
- Cloud-Based
- On-Premise
- Global Voice-over-5G (Vo5G) Market, By End-User Industry, 2021 - 2031 (USD Million)
- IT & Telecommunication
- Retail
- BFSI
- Transportation
- Media & Entertainment
- Other
- Global Voice-over-5G (Vo5G) Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Voice-over-5G (Vo5G) Market, By Service Deployment, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Qualcomm Incorporated
- Ericsson AB
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- Huawei Technologies Co., Ltd.
- ZTE Corporation
- Cisco Systems, Inc.
- Company Profiles
- Analyst Views
- Future Outlook of the Market