Voice Over Long-Term Evolution (VoLTE) Market Size, Share, Growth, and Industry Analysis, By Types (Voice Over IP Multimedia Subsystem (VoIMS), Circuit Switched Fall Back (CFSB), Dual Radio/Simultaneous Voice and LTE (SVLTE), Voice Over LTE Via Generic Access Network (VOLGA), Single Radio Voice Call Continuity (SRVCC), ), By Applications (Commercial, Government, Other, ) , and Regional Insights and Forecast to 2035

Voice Over Long-Term Evolution (VoLTE) Market Size

The Global Voice Over Long-Term Evolution (VoLTE) Market was valued at USD 17.75 billion in 2025 and is projected to reach USD 20.04 billion in 2026. The market is further expected to grow to USD 22.64 billion in 2027 and reach USD 59.88 billion by 2035, exhibiting a CAGR of 12.93% during the forecast period from 2026 to 2035. Rising smartphone penetration, increasing LTE network expansion, and growing demand for HD voice communication are supporting market growth. More than 72% of telecom users prefer uninterrupted voice and data connectivity, while nearly 66% of mobile operators are investing in advanced VoLTE infrastructure to improve communication quality and reduce call latency.

The US Voice Over Long-Term Evolution (VoLTE) Market is witnessing strong growth because of rising adoption of advanced mobile communication services and expanding 5G integration. Around 78% of smartphone users in the country depend on LTE-enabled voice communication services for daily connectivity. Nearly 69% of telecom operators are improving LTE infrastructure to support better HD voice quality and seamless communication performance. More than 63% of enterprises are using VoLTE-supported systems for remote work, customer communication, and cloud-based collaboration. Increasing demand for low-latency communication and stable network performance continues to support the growth of the US Voice Over Long-Term Evolution (VoLTE) Market.

Key Findings

• Market Size: Global Voice Over Long-Term Evolution (VoLTE) Market reached USD 17.75 billion in 2025, USD 20.04 billion in 2026, and USD 59.88 billion by 2035 at 12.93% CAGR.
• Growth Drivers: Around 74% users prefer HD voice services, while 68% telecom providers expanded LTE infrastructure and 61% improved cloud communication systems.
• Trends: Nearly 66% operators adopted AI-based network optimization, while 58% enterprises increased demand for seamless voice and data communication services.
• Key Players: Huawei Technologies, Ericsson, Nokia Networks, Verizon Wireless, Reliance Jio Infocomm & more.
• Regional Insights: Asia-Pacific holds 34% market share, North America 31%, Europe 25%, and Middle East & Africa 10% with expanding LTE adoption.
• Challenges: Around 47% telecom providers face network congestion, 42% users report compatibility issues, and 38% rural regions experience unstable LTE connectivity.
• Industry Impact: Nearly 71% enterprises improved communication efficiency, while 64% telecom operators reduced call drops through advanced VoLTE network integration.
• Recent Developments: Around 59% telecom companies launched cloud-native VoLTE platforms, while 53% improved AI-based voice optimization and low-latency communication technologies.

The Voice Over Long-Term Evolution (VoLTE) Market is becoming an important part of modern mobile communication infrastructure due to rising digital connectivity and advanced LTE deployment. Around 73% of telecom users now prefer high-definition voice communication over traditional calling systems because of better sound quality and faster connection speed. Nearly 62% of telecom operators are focusing on integrating VoLTE with 5G communication platforms to improve customer experience. More than 57% of businesses are adopting LTE voice communication systems for remote operations, cloud communication, and secure enterprise connectivity. Increasing smart device usage and mobile internet penetration continue to strengthen the demand for advanced VoLTE communication services globally.

Voice Over Long-Term Evolution (VoLTE) Market Trends

The Voice Over Long-Term Evolution (VoLTE) market is growing strongly due to rising smartphone usage, better mobile network quality, and higher demand for fast voice communication. More than 72% of telecom users now prefer HD voice calling because of better sound quality and lower call drops. Around 68% of mobile operators have increased investments in LTE infrastructure to improve voice and video communication services. Nearly 64% of smartphone users depend on VoLTE-enabled devices for faster call connection and improved battery performance. In urban regions, VoLTE adoption has crossed 70% because consumers prefer seamless voice and data usage at the same time.

About 61% of telecom providers are focusing on cloud-based VoLTE platforms to improve network flexibility and reduce operational pressure. Enterprise communication demand has also increased, with over 55% of businesses shifting toward LTE voice services for remote communication support. The Asia-Pacific region accounts for more than 48% of total VoLTE subscriptions because of rapid mobile internet penetration and expanding 4G coverage. Around 59% of telecom customers expect uninterrupted voice connectivity during video streaming and online gaming, which is increasing VoLTE usage globally. In addition, nearly 52% of mobile carriers are integrating AI-powered network optimization tools to improve VoLTE call stability and reduce latency issues.

Voice Over Long-Term Evolution (VoLTE) Market Dynamics

OPPORTUNITY

"Expansion of 5G and Advanced Mobile Networks"

The expansion of 5G infrastructure is creating strong growth opportunities for the Voice Over Long-Term Evolution (VoLTE) market. More than 66% of telecom operators are upgrading existing LTE systems to support advanced voice communication services. Around 58% of mobile subscribers now expect ultra-clear voice quality and uninterrupted connectivity during high-data usage activities. Over 63% of telecom companies are integrating VoLTE with 5G-ready platforms to improve customer experience. In developing regions, smartphone penetration has crossed 69%, which is increasing the demand for VoLTE-supported services. Nearly 54% of enterprises are adopting advanced LTE voice solutions for remote working, customer service, and business communication. The increasing use of connected devices and smart applications is also supporting VoLTE deployment across multiple industries.

DRIVERS

"Rising Demand for High-Quality Voice Communication"

The growing demand for high-quality voice calling is a major driver for the Voice Over Long-Term Evolution (VoLTE) market. More than 74% of mobile users prefer HD voice services because they provide better sound clarity and faster call connection. Around 62% of telecom consumers experience improved network performance while using VoLTE-enabled services. Nearly 57% of mobile operators have expanded LTE coverage to improve voice communication quality in rural and urban areas. Over 60% of smartphone manufacturers are launching devices with built-in VoLTE support as a standard feature. In addition, about 53% of internet users simultaneously use voice and data services, increasing the need for stable LTE voice technology. The demand for low-latency communication and uninterrupted mobile connectivity continues to support market expansion.

RESTRAINTS

"Limited LTE Coverage in Remote Areas"

The lack of strong LTE infrastructure in remote and underdeveloped regions is limiting the growth of the Voice Over Long-Term Evolution (VoLTE) market. Around 46% of rural telecom users still face unstable LTE connectivity, affecting VoLTE call performance. Nearly 42% of telecom providers struggle with network expansion because of high infrastructure installation complexity. More than 38% of users in low-network areas continue to depend on traditional voice services due to inconsistent signal strength. Around 35% of small telecom operators face technical limitations in supporting advanced VoLTE deployment. In addition, nearly 41% of consumers report dropped calls and voice delays in areas with weak LTE coverage, reducing customer confidence in VoLTE communication services.

CHALLENGE

"Network Congestion and Device Compatibility Issues"

Network congestion and compatibility problems remain major challenges for the Voice Over Long-Term Evolution (VoLTE) market. Around 51% of telecom operators experience heavy network traffic during peak usage hours, which affects VoLTE voice quality. Nearly 44% of older smartphone models do not fully support advanced VoLTE features, creating service limitations for users. More than 39% of mobile subscribers face voice interruption issues due to inconsistent software updates and device settings. Around 47% of telecom companies are investing in network optimization to reduce latency and improve call reliability. In addition, nearly 36% of consumers report difficulties in switching between LTE and non-LTE networks during active calls, which impacts overall communication performance and customer satisfaction.

Segmentation Analysis

The Voice Over Long-Term Evolution (VoLTE) market is segmented by type and application, with each segment showing strong adoption due to rising LTE network expansion and increasing smartphone penetration. The global Voice Over Long-Term Evolution (VoLTE) Market size was USD 17.75 Billion in 2025 and is projected to touch USD 20.04 Billion in 2026 to USD 59.88 Billion by 2035, exhibiting a CAGR of 12.93% during the forecast period. More than 71% of telecom users now prefer high-definition voice communication, increasing the use of advanced VoLTE technologies across commercial and government sectors. By type, Voice Over IP Multimedia Subsystem (VoIMS) holds a strong position because of its flexible communication support and better call management. By application, the commercial sector accounts for a major share due to rising mobile communication usage among enterprises and digital service providers. Growing 4G and 5G network integration continues to support all market segments globally.

By Type

Voice Over IP Multimedia Subsystem (VoIMS)

Voice Over IP Multimedia Subsystem (VoIMS) is widely used because it supports advanced multimedia communication and seamless voice connectivity over LTE networks. Around 69% of telecom providers are integrating VoIMS platforms to improve HD voice quality and reduce network congestion. Nearly 63% of enterprise communication systems prefer VoIMS due to better scalability and faster call setup performance. More than 58% of mobile operators are focusing on IMS-based voice architecture for future-ready LTE and 5G integration. The segment also benefits from increasing cloud-based communication deployment and rising demand for uninterrupted voice and data services.

Voice Over IP Multimedia Subsystem (VoIMS) held the largest share in the Voice Over Long-Term Evolution (VoLTE) market, accounting for USD 6.48 Billion in 2025, representing 36.5% of the total market. This segment is expected to grow at a CAGR of 13.4% during the forecast period due to increasing LTE infrastructure upgrades and rising demand for high-quality mobile communication services.

Circuit Switched Fall Back (CFSB)

Circuit Switched Fall Back (CFSB) remains important in regions where LTE networks are still expanding gradually. Around 49% of telecom networks continue to support CSFB technology to ensure stable voice communication in low LTE coverage areas. Nearly 44% of mobile operators use CSFB systems to maintain compatibility between older and newer communication networks. More than 41% of users in semi-urban regions still depend on CSFB-supported services because of network transition limitations. Telecom companies continue to maintain CSFB deployment to improve service continuity and customer experience.

Circuit Switched Fall Back (CFSB) accounted for USD 3.55 Billion in 2025, representing 20% of the total market share. The segment is projected to grow at a CAGR of 11.2% during the forecast period due to continued support for hybrid communication infrastructure and legacy mobile networks.

Dual Radio/Simultaneous Voice and LTE (SVLTE)

Dual Radio/Simultaneous Voice and LTE (SVLTE) technology allows simultaneous voice and data usage, improving overall communication quality for mobile users. Around 52% of premium smartphone users prefer SVLTE-supported devices because of faster multitasking capabilities. Nearly 46% of telecom operators support SVLTE to improve user experience during streaming and voice calls. More than 43% of enterprise users depend on SVLTE-enabled communication for remote meetings and business operations. The segment is growing due to increasing smartphone upgrades and demand for uninterrupted LTE communication services.

Dual Radio/Simultaneous Voice and LTE (SVLTE) generated USD 2.84 Billion in 2025, accounting for 16% of the total market share. This segment is anticipated to expand at a CAGR of 12.1% during the forecast period because of growing demand for simultaneous voice and data connectivity.

Voice Over LTE Via Generic Access Network (VOLGA)

Voice Over LTE Via Generic Access Network (VOLGA) supports voice communication by connecting LTE and traditional network systems. Around 38% of telecom service providers continue to explore VOLGA-based communication support to improve network interoperability. Nearly 35% of operators in developing regions use VOLGA systems for smoother migration from older voice technologies to LTE communication. More than 32% of users benefit from better voice continuity through VOLGA-enabled network support. The segment continues to grow steadily due to rising demand for cost-effective communication infrastructure.

Voice Over LTE Via Generic Access Network (VOLGA) accounted for USD 2.13 Billion in 2025, representing 12% of the total market. The segment is projected to grow at a CAGR of 10.8% during the forecast period due to increasing demand for network compatibility solutions.

Single Radio Voice Call Continuity (SRVCC)

Single Radio Voice Call Continuity (SRVCC) technology helps maintain uninterrupted voice calls while users switch between LTE and traditional networks. Around 47% of telecom companies are using SRVCC systems to reduce dropped calls and improve customer satisfaction. Nearly 42% of mobile users prefer SRVCC-supported networks for better call continuity during movement between network zones. More than 39% of LTE infrastructure providers are improving SRVCC integration to support stable communication services. The growing focus on uninterrupted mobile communication continues to support segment growth.

Single Radio Voice Call Continuity (SRVCC) reached USD 2.75 Billion in 2025, representing 15.5% of the total market share. This segment is expected to grow at a CAGR of 12.6% during the forecast period due to increasing focus on reliable voice handover technology.

By Application

Commercial

The commercial segment accounts for a significant share in the Voice Over Long-Term Evolution (VoLTE) market because businesses increasingly rely on high-speed mobile communication systems. Around 74% of enterprises now use LTE-based communication services for customer support, video conferencing, and remote work operations. Nearly 68% of telecom operators provide dedicated commercial VoLTE packages for business communication needs. More than 61% of digital service providers depend on VoLTE technology for uninterrupted voice and data management. Rising cloud communication adoption and mobile workforce expansion continue to support commercial segment growth globally.

Commercial applications accounted for USD 9.41 Billion in 2025, representing 53% of the total market share. This segment is projected to grow at a CAGR of 13.1% during the forecast period due to rising enterprise mobility and increasing digital communication demand.

Government

Government organizations are increasingly adopting VoLTE communication systems for secure and reliable mobile communication services. Around 58% of public sector communication departments are upgrading LTE infrastructure to support emergency and administrative operations. Nearly 51% of government agencies prefer VoLTE-enabled networks because of better call clarity and improved response coordination. More than 46% of smart city projects are integrating LTE voice communication systems for public safety applications. Rising digital governance and connected infrastructure development continue to support segment expansion.

Government applications generated USD 5.15 Billion in 2025, accounting for 29% of the total market share. This segment is expected to grow at a CAGR of 12.4% during the forecast period due to rising investments in digital communication infrastructure.

Other

The other application segment includes education, healthcare, transportation, and personal communication services. Around 49% of healthcare institutions are adopting LTE voice communication systems for faster coordination and remote consultation support. Nearly 45% of educational platforms use VoLTE-supported communication tools for online learning activities. More than 41% of transport and logistics providers are implementing LTE communication services for operational efficiency and fleet management. The increasing use of connected mobile applications continues to create growth opportunities in this segment.

Other applications accounted for USD 3.19 Billion in 2025, representing 18% of the total market share. The segment is projected to grow at a CAGR of 11.7% during the forecast period because of expanding digital communication usage across multiple industries.

Voice Over Long-Term Evolution (VoLTE) Market Regional Outlook

The global Voice Over Long-Term Evolution (VoLTE) Market size was USD 17.75 Billion in 2025 and is projected to touch USD 20.04 Billion in 2026 to USD 59.88 Billion by 2035, exhibiting a CAGR of 12.93% during the forecast period. Regional growth is supported by rising LTE penetration, increasing smartphone adoption, and strong telecom infrastructure development. North America accounts for 31% market share, Europe holds 25%, Asia-Pacific captures 34%, and Middle East & Africa represents 10% of the global market. Telecom companies across all regions are increasing investments in advanced voice communication technologies to improve customer experience and support growing mobile data usage.

North America

North America continues to show strong demand for Voice Over Long-Term Evolution (VoLTE) services because of advanced telecom infrastructure and high smartphone usage. Around 79% of telecom subscribers in the region use LTE-enabled communication services regularly. Nearly 72% of enterprises prefer VoLTE-supported business communication systems because of improved call clarity and stable connectivity. More than 67% of telecom operators are expanding LTE coverage in suburban areas to improve network efficiency. Rising demand for cloud communication and connected devices is also supporting regional growth. North America accounted for USD 6.21 Billion in 2026, representing 31% of the global market share, supported by strong mobile network penetration and increasing digital communication demand.

Europe

Europe is witnessing steady growth in the Voice Over Long-Term Evolution (VoLTE) market due to rising digital transformation and increasing LTE adoption across industries. Around 70% of smartphone users in the region actively use VoLTE-supported services for HD voice communication. Nearly 64% of telecom operators are integrating advanced LTE infrastructure to improve voice and video connectivity. More than 58% of enterprises are adopting VoLTE communication systems for remote work and customer interaction support. Government-backed digital infrastructure projects are also encouraging market expansion. Europe accounted for USD 5.01 Billion in 2026, representing 25% of the global market share due to increasing telecom modernization and connected communication services.

Asia-Pacific

Asia-Pacific holds a major position in the Voice Over Long-Term Evolution (VoLTE) market due to rapid smartphone adoption and expanding mobile internet penetration. Around 76% of telecom users in the region depend on LTE communication services for daily voice and data activities. Nearly 69% of telecom operators are increasing investments in 4G and 5G network infrastructure. More than 63% of mobile device manufacturers in the region now support built-in VoLTE functionality. Increasing digital population and smart city development are supporting strong market demand. Asia-Pacific accounted for USD 6.81 Billion in 2026, representing 34% of the global market share because of large-scale telecom subscriber growth and expanding LTE coverage.

Middle East & Africa

Middle East & Africa is gradually expanding in the Voice Over Long-Term Evolution (VoLTE) market due to rising telecom investments and improving mobile connectivity. Around 55% of telecom operators in the region are upgrading LTE infrastructure to support high-quality voice communication. Nearly 49% of mobile users are shifting toward VoLTE-enabled smartphones for better network performance. More than 43% of digital communication providers are investing in LTE-based enterprise solutions for commercial and government applications. Smart infrastructure projects and rising internet penetration are further supporting regional market development. Middle East & Africa accounted for USD 2.01 Billion in 2026, representing 10% of the global market share due to increasing demand for reliable mobile communication services.

List of Key Voice Over Long-Term Evolution (VoLTE) Market Companies Profiled

Investment Analysis and Opportunities in Voice Over Long-Term Evolution (VoLTE) Market

The Voice Over Long-Term Evolution (VoLTE) market is attracting strong investment due to rising demand for high-speed mobile communication and LTE network expansion. Around 68% of telecom operators are increasing investments in LTE infrastructure modernization to improve voice quality and reduce latency issues. Nearly 61% of network providers are focusing on cloud-based VoLTE platforms to improve operational flexibility and customer support services. More than 57% of enterprise communication providers are adopting LTE voice systems for remote working and digital communication management. Around 53% of telecom investments are directed toward AI-based network optimization and advanced call management technologies. In developing regions, over 49% of telecom companies are expanding LTE coverage to support rising smartphone penetration. Increasing 5G deployment and connected device usage continue to create long-term opportunities for VoLTE infrastructure providers, software developers, and telecom service companies globally.

New Products Development

New product development in the Voice Over Long-Term Evolution (VoLTE) market is focused on improving call quality, reducing network congestion, and supporting seamless 5G integration. Around 66% of telecom technology providers are developing AI-powered VoLTE management systems to improve network performance and customer experience. Nearly 59% of smartphone manufacturers are launching devices with advanced VoLTE and HD voice support features. More than 54% of telecom companies are introducing cloud-native VoLTE platforms to improve scalability and network flexibility. Around 47% of communication software developers are focusing on low-latency voice applications for enterprise and gaming users. Mobile operators are also investing in advanced voice encryption and security technologies, with nearly 44% of providers improving secure communication solutions. The growing use of virtual communication tools and connected smart devices continues to support innovation in VoLTE products and services.

Developments

• Ericsson: Expanded its cloud-based VoLTE platform capabilities with improved network automation features, helping telecom operators reduce call setup delays by nearly 32% and improve voice quality performance by around 28% across LTE communication systems.
• Huawei Technologies: Introduced advanced AI-driven VoLTE optimization tools that improved network traffic management efficiency by approximately 36% while reducing voice interruption rates by nearly 24% in high-density mobile network environments.
• Reliance Jio Infocomm: Increased nationwide VoLTE network coverage and improved HD voice communication quality for mobile users, supporting over 40% higher simultaneous voice and data usage performance during peak traffic conditions.
• Nokia Networks: Launched upgraded VoLTE software integration systems focused on reducing latency issues and improving voice handover stability, resulting in nearly 27% better communication continuity across LTE and non-LTE networks.
• Verizon Wireless: Improved enterprise-focused VoLTE communication solutions with enhanced security and low-latency voice support, helping business users experience approximately 31% better communication reliability during remote operations.

Report Coverage

The Voice Over Long-Term Evolution (VoLTE) market report provides detailed analysis of market trends, growth opportunities, technology adoption, segmentation, regional outlook, and competitive landscape. The report studies major market drivers such as increasing smartphone penetration, expanding LTE infrastructure, and rising demand for HD voice communication services. Around 74% of telecom users now prefer uninterrupted voice and data connectivity, increasing demand for VoLTE solutions globally. The report also evaluates opportunities linked with 5G integration, cloud-based communication systems, and enterprise mobility solutions.

The study includes SWOT analysis to identify strengths, weaknesses, opportunities, and threats influencing the market environment. Strong LTE network expansion and growing digital communication adoption remain key strengths supporting industry growth. Around 67% of telecom operators are increasing investments in advanced LTE infrastructure to improve customer experience and network efficiency. Weaknesses include limited LTE coverage in remote regions and compatibility issues among older mobile devices. Nearly 42% of users in low-network areas still face communication disruptions due to weak LTE connectivity.

The report also covers detailed segmentation analysis by type and application, along with regional market evaluation across North America, Europe, Asia-Pacific, and Middle East & Africa. Around 69% of global telecom companies are focusing on LTE voice optimization to improve customer retention and communication quality. The study provides strategic insights into product innovation, investment activity, competitive developments, and future technology trends shaping the Voice Over Long-Term Evolution (VoLTE) market.

Future Scope

The future scope of the Voice Over Long-Term Evolution (VoLTE) market remains highly positive due to increasing demand for high-speed communication and advanced LTE infrastructure. Around 76% of telecom operators are planning additional investments in LTE and 5G voice communication technologies to improve customer experience. The rising use of cloud communication systems and connected devices is expected to create long-term demand for VoLTE-supported services across commercial, government, and personal communication sectors.

More than 68% of smartphone manufacturers are expected to increase integration of advanced VoLTE features such as AI-based call optimization, low-latency communication, and enhanced voice security systems. Nearly 61% of telecom providers are focusing on cloud-native network platforms to improve scalability and reduce network management complexity. Growing demand for seamless voice and video communication during remote work activities is also expected to support future market expansion.

In Asia-Pacific and Middle East & Africa, increasing mobile internet penetration and telecom infrastructure development are expected to create strong growth opportunities. Around 57% of telecom users in developing regions are shifting toward LTE-enabled communication services due to better network quality and faster connectivity. Smart city projects and digital transformation programs are also expected to increase adoption of advanced mobile communication technologies.

The market is further expected to benefit from rising enterprise mobility, connected healthcare systems, and AI-powered communication platforms. Around 52% of enterprises are investing in advanced LTE voice solutions for secure and uninterrupted communication. Increasing demand for real-time communication in gaming, virtual meetings, and customer support services will continue supporting product innovation and telecom infrastructure upgrades globally. Continuous improvements in network optimization and cybersecurity technologies are expected to strengthen the future growth potential of the Voice Over Long-Term Evolution (VoLTE) market.

Voice Over Long-Term Evolution (VoLTE) Market Report Coverage

REPORT COVERAGE	DETAILS
Market Size Value In	USD 17.75 Billion in 2026
Market Size Value By	USD 59.88 Billion by 2035
Growth Rate	CAGR of 12.93% from 2026 - 2035
Forecast Period	2026 - 2035
Base Year	2025
Historical Data Available	Yes
Regional Scope	Global
Segments Covered	By Type : Voice Over IP Multimedia Subsystem (VoIMS) Circuit Switched Fall Back (CFSB) Dual Radio/Simultaneous Voice and LTE (SVLTE) Voice Over LTE Via Generic Access Network (VOLGA) Single Radio Voice Call Continuity (SRVCC) By Application : Commercial Government Other
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Frequently Asked Questions

• What value is the Voice Over Long-Term Evolution (VoLTE) Market expected to touch by 2035?

  The global Voice Over Long-Term Evolution (VoLTE) Market is expected to reach USD 59.88 Billion by 2035.

• What CAGR is the Voice Over Long-Term Evolution (VoLTE) Market expected to exhibit by 2035?

  The Voice Over Long-Term Evolution (VoLTE) Market is expected to exhibit a CAGR of 12.93% by 2035.

• Who are the top players in the Voice Over Long-Term Evolution (VoLTE) Market?

  AT?T, Cisco Systems, Huawei Technologies, Ericsson, LG Uplus, Nokia Networks, SK Telecom, T-Mobile, Bharti Airtel, Verizon Wireless, Bell Canada, Vodafone Group, Reliance Jio Infocomm, KT Corporation, Orange SA, Alcatel-Lucent, D2 Technologies,

• What was the value of the Voice Over Long-Term Evolution (VoLTE) Market in 2025?

  In 2025, the Voice Over Long-Term Evolution (VoLTE) Market value stood at USD 17.75 Billion.

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