Is Voice Value in Bearer Traffic or Signaling?

Where is voice value?

In the absence of some significant amount of innovation in voice services, it might be easy to predict that the revenue contribution from voice, both fixed and mobile, will slowly decline.

That's easy enough for those with no operating responsibilities to say. But there is one major caveat.

Typical estimates of voice revenue contribution, not to mention the strategic value of voice, tend to focus on "bearer traffic" revenues, not the contribution of signaling. 


And one can make an argument that if the voice revenue contribution trend does change, it will be because of innovations in signaling, not bearer traffic, that will drive it.

Is Voice Value in Bearer Traffic or Signaling?