16 April 2018 -- The introduction of VoLTE will deliver significant benefits to both Mobile Network Operators (MNOs) and their subscribers as VoLTE services are forecast to grow at a compound annual growth rate (CAGR) of 30 percent between 2018 and 2021.

VoLTE offers operators a host of benefits, including the ability to re-farm legacy 2G and 3G spectrum while simultaneously offering their subscribers a differentiated service experience through services such as HD voice and video telephony.

The total value of the Voice over LTE (VoLTE) subscriptions is set to surpass the $280 billion mark by 2021, according to a new industry report. While traditional voice services will account for 84 percent of the $280 billion revenues, the remaining 16 percent will be generated by voice-based Internet of Things (IoT) applications, as well as video calling and other supplementary services.

While the vast majority of VoLTE growth is expected to occur on smartphones, the VoLTE is increasingly being integrated into other devices, such as IoT modules and wearables such as smartwatches. As of the second quarter of 2018, more than 140 mobile operators have commercially launched VoLTE services around the globe.

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