How Is The Global Fixed Mobile Convergence Market Defined?
Fixed-mobile convergence (FMC) refers to a telecommunications strategy that is designed to integrate services and networks from fixed-line (traditional landline) and mobile networks onto a single network infrastructure. It is used to give users a consistent experience, allowing them to access communication services across several devices and networks (fixed-line and mobile) without interruptions or inconsistencies.
Fixed Mobile Convergence Global Market Report 2024 provides data on the global fixed mobile convergence market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Fixed Mobile Convergence market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Fixed Mobile Convergence Market Projected?
The fixed mobile convergence market size has grown rapidly in recent years. It will grow from $5.84 billion in 2023 to $6.67 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The growth in the historic period can be attributed to the up-gradation in fixed and wireless networks, the rise of 5G technology, the increased demand for a seamless transition in calls, and the demand for unified communication. The fixed mobile convergence market size is expected to see rapid growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to the increasing demand for unified communication, the adoption of fixed mobile convergence technology, the growing demand for integrated services, the increasing use of digital devices, and rising remote work. Major trends in the forecast period include technological advancements, multi-access edge computing (MEC), 5G integration, enterprise mobility solutions, and IoT and smart devices.
What Are The Primary Growth Drivers In The Fixed Mobile Convergence Market?
The rising 5G technology is expected to propel the growth of the fixed mobile convergence market going forward. 5G, the fifth generation of cellular network technology, offers faster data speeds, lower latency, and greater capacity compared to previous generations. Demand for 5G is increasing due to rising data traffic, enhanced mobile broadband, and improved connectivity. Fixed mobile convergence benefits from 5G by integrating fixed and mobile networks seamlessly, facilitating uninterrupted handovers between Wi-Fi and cellular networks. This integration provides faster speeds and reliable connections across devices and locations. For instance, in April 2023, 5G Americas reported a 76% increase in global 5G wireless connections from the end of 2021 to the end of 2022, reaching 1.05 billion connections. By the end of 2027, this number is expected to grow to 5.9 billion connections. Therefore, the rising 5G technology is driving the growth of the fixed mobile convergence market.
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What Is The Segmentation Of The Global Fixed Mobile Convergence Market?
The fixed mobile convergence market covered in this report is segmented –
1) By Convergence Type: Session Redirection, Private Branch Exchange (PBX) Mobility, Client Software, Dual Mode Support
2) By Component: Voice, Videotelephony, Social Networking, Broadband Internet, Broadband Television (TV)
3) By Service Provider: Mobile, Broadband, Combined
4) By End-User: Home Users, Enterprises, Information Technology (IT) And Telecommunications (Telecom), Banking, Financial Services, And Insurance (BFSI), Automotive, Healthcare, Media And Entertainment, Government
What Emerging Trends Are Shaping The Fixed Mobile Convergence Market Landscape?
Key players in the fixed mobile convergence market are focusing on developing cloud-based unified communications platforms to enhance business communication and collaboration. These platforms integrate fixed-line and mobile communication services into a single, unified solution, allowing users seamless access to a broad range of communication tools and services across fixed and mobile networks. For example, in April 2023, Vodafone Idea Limited, an Indian mobile network operator, partnered with RingCentral Inc., a US-based provider of cloud-based communication and collaboration services, to launch Vodafone Business Unified Communications (UC) in Italy. This new platform supports hybrid working and provides analytics and reporting tools to help businesses analyze usage, assess call quality, and identify areas for improvement. It is accessible from any device with an internet connection, offering multiple levels of enterprise-grade security and compliance with local and international data regulations.
Which Region Has The Fastest Expansion In The Fixed Mobile Convergence Market?
North America was the largest region in the fixed mobile convergence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fixed mobile convergence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
