The Media Gateway Market size is estimated at USD 2.84 billion in 2024, and is expected to reach USD 3.53 billion by 2029, growing at a CAGR of 4.46% during the forecast period (2024-2029).
A media gateway is a device or service that converts media streams into digital data communications to provide video, audio, fax, and other services across various digital technology interfaces.
The media gateway market is competitive and consists of some prominent members. Regarding market share, some of those big players currently dominate the market. These market leaders with significant market shares are concentrating on growing their consumer base internationally. These firms have supported several initiatives to expand and develop in the media gateway market, including product launches and developments, partnerships, acquisitions, and collaborations.
In March 2023, Avaya announced to launch of the Avaya Experience Platform (AXP) in Australia and New Zealand (A/NZ) to deliver flexible and productive hybrid work for employees and create seamless experiences for customers, where AXP is an AI-powered, contact center-as-a-service (CCaaS) collaboration platform and a vital component of the Avaya Experience Platform, which offers comprehensive workstream collaboration and unified communications technologies.
In March 2023, Nokia Corporation announced it would enhance NTT DOCOMO, INC.'s (DOCOMO). As it introduces new 5G mobile services, it will also enable a nationwide IP core backbone and transport network slicing.DOCOMO used Nokia's revolutionary FP routing silicon in its 7750 SR-14s core routers. With a 75 percent reduction in power consumption over earlier generations, FP5 line cards enable 800GE capability, boost capacity by more than three times, and streamline network evolution with simultaneous line rate FP5 and FP4 line card operation in the same system.
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