May 05, 2020
According to the research report titled ‘Global Media Gateway Market Size study, by Type (Analog, Digital) By Technology ( Wireline, Wireless, Hybrid) By Vertical (Government, Banking, Financial Services, and Insurance (BFSI), Manufacturing, Healthcare, Transportations, Telecommunications, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global media gateway market amassed USD 2 billion in 2018 and is expected to grow with a CAGR of 5.3% between 2019 and 2026.
For the record, a media gateway is a translation device or service that converts media streams. It is widely used in telecommunications network in order to provide internetworking as well as transformation between dissimilar network communication and media streams.
Growing demand for high-quality transmission over different networks is a major factor driving the media gateway market growth. Modular structure of this translation device also provides with flexibility to legacy systems. The market is expected to further expand due to rising adoption of 4G as well as advent of 5G technology. However, preference for Softswitches may act as a restraining factor to the market growth.
As per type, media gateway market is split into digital and analog, whereas in terms of technology, the market is bifurcated into hybrid, wireless and wireline segments. Different verticals of the market include telecommunication, transportation, healthcare, manufacturing, BFSI, government, and others.
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Considering the geographical landscape, North America accounts for a substantial share in global media gateway market, primarily due to increasing utilization of media transcoding solutions for next-gen networks and growing demand for transcoding devices.
Meanwhile, Asia-Pacific market is poised to acquire noticeable returns in the ensuing years. Rising dependency on telecommunication and internet services coupled with development of 5G technology are creating lucrative growth opportunities for media gateway market in APAC.
Prominent companies in media gateway market are Synway Information Engineering, Dialogic, ZTE Corp., Cisco Systems, Huawei Technologies, Ericsson, Ribbon Communications, Avaya, Audiocodes and Nokia Corp. among others.