A report by P&S Intelligence finds that due to the increasing number of Wi-Fi hotspots around the world, the global voice over Wi-Fi (VoWiFi) market is predicted to witness massive growth, of 24.5%, between 2020 and 2030.
At this high CAGR, the industry size would increase from $2,035.3 million in 2019 to $22,801.2 million by 2030. From 124 million in 2017, the number of public community and wireless local-area network (LAN) hotspots is set to rise to 550 million by 2022, according to the report.
LAN hotspots will work as a growth factor for the VoWiFi market, as, with an increasing number of people being able to access wireless internet, the demand for voice over Wi-Fi services will rise. For instance, Asia-Pacific (APAC) is projected to have 261 million, Brazil 15 million, and the U.S. 77 million public hotspots by 2022.
The COVID-19 pandemic is fueling the advance of the VoWiFi market, as, with people confined indoors, the usage of Wi-Fi at homes is rising constantly. Moreover, a large number of companies have shifted to the work-from-home (WFH) model, which has further led to a greater usage of voice over Wi-Fi solutions, for better internet call connectivity and quality.
The highest CAGR in the VoWiFi market, of 28.0%, will be experienced in the direct-access-based architecture, in the immediate future. This would be because this architecture can directly connect the devices of users to the IMS over the internet, via the usage of IP security (IPSec) tunnel to a security gateway.