Surging Mobile Phone Accessibility in Developing Countries and Low Mobile Connection Costs Bolstering Fixed Mobile Convergence Market: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, June 5, 2024 /EINPresswire.com/ — According to Fact.MR, the global fixed mobile convergence market is estimated to reach a valuation of US$ 5.5 billion in 2024 and further expand at a CAGR of 12.8% from 2024 to 2034.
Because of the fierce rivalry among smartphone makers, costs of mobile connections have dropped, which has expanded the use of mobile phones in developing countries. The market for fixed-mobile convergence services is particularly benefiting from this trend since more people have access to reasonably priced smartphones, which is encouraging the development of integrated communication solutions.
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Growth of the market depends on technological innovations such as unified communications (UC), mobile office solutions, remote access solutions, cloud-based FMC solutions, device management solutions, application integration solutions, analytics, and reporting solutions. Businesses can create and provide more interactive mobile value-added services that improve customer experiences because of the improved connectivity.
The market is expanding rapidly as a result of businesses using fixed-mobile value-added services more frequently to communicate with clients and customers more efficiently. Moreover, communication tools and services improve network collaboration, streamline project management, and allow effective communication.
Key Takeaways from Market Study
The global fixed mobile convergence market is projected to expand at 12.8% CAGR and reach US$ 18.5 billion by the end of 2034. The market created an absolute $ opportunity of US$ 1.6 billion from 2019 to 2023.
North America is a prominent region and is estimated to hold a market share of 30.9% in 2024. The client software segment is forecasted to expand at a CAGR of 13.3% through 2034, creating an absolute $ opportunity of US$ 5.3 billion from 2024 to 2034.
North America and East Asia are projected to collectively create an absolute $ opportunity of US$ 7.4 billion from 2024 to 2034.
“Rise in mobile phone usage worldwide highlights the growing significance of fixed-mobile convergence, as it meets the high demand for integrated, efficient connections, thus transforming the global telecommunications landscape,” says a Fact.MR analyst.
Advoss, Allocloud, CableLabs, Citymesh, CounterPath, Destiny NV, Gintel AS, Juno Telecoms, KPN, kt Rwanda Networks, Microsoft, Netcom Solutions Bvba, Orange, PCCW-HKT DataCom Services Limited, Proximus, Smartfren Home, Tango Networks, Inc., Telkom IndiHome, Tri Home, Turkcell, Unifi, Vodafone Limited, Indosat Ooredoo Hutchison, and XL Axiata are key players in the fixed mobile convergence industry.
Market Development
Leading fixed mobile convergence companies are focusing on innovation. Fixed mobile convergence services are being integrated with 5G, the Internet of Things, cloud-based solutions, and software-defined networking. The popularity of fixed mobile convergence is on the rise annually, with plans to expand services in response to high demand.
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Country-wise Insights:
Strong Demand for Integrated Communication Solutions
The United States stands at the forefront of the fixed mobile convergence market, boasting a size that reached US$ 651.2 million in 2023. Projections indicate a robust 12.6% CAGR from 2024 to 2034, showcasing the nation’s appetite for integrated communication solutions. This trend is primarily fueled by the seamless integration of fixed and mobile networks, ensuring uninterrupted connectivity for individuals transitioning between various environments and offering unified communication solutions for businesses.
Key to the United States’ dominance in this arena is its role as a major global player, with both startups and established firms actively contributing to the sector’s dynamism. The country’s developed and technologically advanced landscape provides fertile ground for innovation and market growth.
Noteworthy data from the Federal Communications Commission underscores the evolving nature of communication preferences in the United States. From 2020 to 2023, fixed-line broadband subscriptions experienced a decline from 103.2 million to 98.7 million, while mobile broadband subscriptions surged from 295.7 million to 330.7 million. This shift in subscription patterns is accompanied by changes in service dynamics and pricing, with the average monthly cost for fixed-line broadband decreasing from US$ 61.53 to US$ 57.44, while mobile broadband costs increased from US$ 68.87 to US$ 74.32. These fluctuations reflect the evolving landscape of communication preferences and consumption habits within the country.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the fixed mobile convergence market, presenting historical market data for 2019 to 2023 and forecast statistics for 2023 to 2034.
The study reveals essential insights based on component (infrastructure, services), convergence type (session redirection, PBX mobility, client software, dual mode support), service provider (mobile, broadband, combined), and use case (customer-based use cases (B2C) [residential or individuals] and B2B-based use cases [enterprises, businesses]), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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