What happened

Shares of Sonus Networks (NASDAQ:SONS) rose 11.7% in March 2017, according to data from S&P Global Market Intelligence.

So what

The provider of digital communications solutions caught a tailwind from a Juniper Research report that was published March 7, where Voiceover LTE services (VoLTE) were seen reaching 3 billion subscribers by 2021. That's up from just 488 million users today, and it plays into Sonus' core strategy.

Businesswoman smiling and talking on the phone.

Image source: Getty Images.

Now what

In February's fourth-quarter earnings call, Sonus CEO Ray Dolan kept coming back to the VoLTE opportunity. The largest contract signed in that quarter was a VoLTE equipment deal with an unnamed top-tier telecom, and this technology will remain a steady growth driver for the foreseeable future.

"We were in a bake-off for a year versus all of the major players. We won that bake-off," Dolan said. "Our voice heritage is a natural extension for us to own VoLTE going forward. It's just taken us a while."

So, it makes plenty of sense for Sonus investors to get excited about massive growth in the VoLTE market. Now it's up to the company to execute and take advantage of this tempting opportunity.

Anders Bylund has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.