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Technavio analysts forecast the SMB telecom voice and data services market in the US to grow at a CAGR of over 6% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the SMB telecom voice and data services market in the US for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The US is a technology-driven market, especially the enterprise segment in the country. The carriers are now more focused on improving data services to the small and medium business in the US market. The carriers are focusing on improving the quality and affordability of their services that are offered to the SMB business segment of the US enterprises. The carriers have begun capital allocations to make upgrades to the core connectivity infrastructure, especially with the developments in IoT technology.
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Technavio analysts highlight the following three factors that are contributing to the growth of the SMB telecom voice and data services market in the US:
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Demand for quality over voice services in the US
The benefit of VoLTE is that the quality of the call is better than 2G and 3G connections and also more data can be transferred over 4G as compared to 2G and 3G. Traditionally, voice networks transmit voice calls using 8 Kbps codec, but VoLTE transmits voice calls using 13 Kbps codec. This results in clearer phone calls compared with a typical cellular phone call.
Jujhar Singh, a lead M2M and connected devices research analyst at Technavio, says, “Fast, more reliable, and richer services have the potential to encourage subscribers to switch to VoLTE. The high-value mobile subscribers are ready and willing to swap providers to avail the desired services. Being the first fully packet-based radio technology, LTE provides fast access rates with low latency, enhancing the user experience.”
Increasing demand for mobile UC
There is an increasing demand from mobile enterprises for mobile and cloud unified communication (UC) solutions because of their faster network speeds. Mobile network operators fulfill the demand by delivering UC applications via LTE and provides the end-users a better user experience by improving the LTE network.
“VoLTE can be unified with enterprise PBX systems. This feature is of relevance to businesses. This integration enables a UC experience with corporate presence, messaging, and video and allows end-users to experience better quality of services at an optimum price. Also, VoLTE requires advanced smartphones and timely software updates,” adds Jujhar.
Growing small and medium businesses in the US
Small and medium businesses are growing across the US. This segment of overall US enterprises accounted for more than 50% of the US revenue in 2016. In 2016, there were more than 30 million small and medium businesses in the US. Since 1970, close to 60% of the US job vacancies originate from the small and medium business sector.
SMBs get the maximum gains from new VoIP services that are offered by the operators. SMBs outsource their communications requirements that save them from clunky, on-site PBX equipment and reduce the cost by cutting the monthly phone bills. The proliferation of UC has also helped smaller companies improve productivity. Operators have been delivering converged voice and data services to SMBs.
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