Virtualized Evolved Packet Core (vEPC) Market To Reach USD 14.45 Billion By 2028 | CAGR of 34.2%
The major contributing factor for the growth of the market for Virtualized evolved packet core can be the lowering of CapEx and OpEx since it reduces dependence on specialized hardware for capital and operational expenditure.
Market Size – USD 1.37 Billion in 2020, Market Growth – CAGR of 34.2%, Market Trends – Digitalized transformation of testing
The Virtualized evolved packet core market is expected to grow from USD 1.37 Billion in 2020 to USD 14.45 Billion by 2028, at a CAGR of 34.2% during the forecast period. The reducing size of CapEx and OpEx, increasing LTE mobile subscribers, increasing use of smartphones, a rise of network function virtualization and growing demand for high-speed data networks are some of the driving factors of the market. Some other factors contributing to the rise of virtualized evolved packet core market are the growth of IoT and M2M and future in 5G. vEPC supports nearly networks of any scale and size, thus reducing the operational as well as capital costs of all business levels. Evolved Packet Core helps in combining voice and data on an Internet Protocol service architecture.
The reluctance of businesses at all levels in adapting virtualized infrastructure, due to the current massive investment in traditional networking with many hardware appliances in use which are specialized to a single unit of application may restrain the growth of the virtualized evolved packet core market.
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Key players within Virtualized evolved packet core market are Affirmed Networks (US), Ericsson (Sweden), Huawei Technologies (China), Mavenir (US), ZTE Corporation (China), Athonet (Italy), Cisco Systems (US), NEC Corporation (Japan), Nokia Corporation (Finland), Samsung (South Korea).
Further key findings from the report suggest
- The virtualized evolved packet core market is segmented by deployment type into cloud and on-premises. The cloud segment is speculated to witness the highest growth of approximately 35.6% CAGR during the forecast period, due to the demand for decreasing costs of equipment and the growth in cloud data adaptation.
- The Virtualized evolved packet core Market is segmented by end users into telecom operators and enterprises. Telecom operator segment is expected to grow with the highest CAGR of approximately 35.2% during the forecast period, due to the adaptation of IoT in network architecture, aggressive penetration of mobile phones and the increasing telecom operator competition.
- The Virtualized evolved packet core market is segmented by use case into LTE, VOLTE, & VoWiFi, Broadband Wireless Access (BWA), IoT & M2M and MPN & MVNO. The IoT and M2M segments are expected to grow with the highest CAGR of approximately 36.2% during the forecast period since operators are adapting IoT packet core network for better connectivity for M2M devices.
- The Virtualized evolved packet core Market is segmented geographically into North, America, Europe, Asia Pacific and Rest of the World. North America dominates the segment with approximately 36.6% CAGR during the forecast period, since it is the home for large telecom operators, and readily keeps adapting new technologies. Since then, APAC has started adopting virtualized evolved packet core across multiple verticals, is expected to witness the highest growth in its CAGR during the forecast period.
For this report, the market has been divided into segments on the basis of deployment type, end users, use case and regional analysis.
To identify the key trends in the industry, click on the link below:
Virtualized evolved packet core Market by deployment type (Revenue, USD Million; 2018-2028)
Virtualized evolved packet core Market by end users (Revenue, USD Million; 2018-2028)
- Telecom Operators
Virtualized evolved packet core Market, by use case (Revenue, USD Million; 2018-2028)
- LTE, VOLTE, and VoWiFi
- Broadband Wireless Access (BWA)
- IoT and M2M
- MPN and MVNO
Virtualized evolved packet core Market Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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Key questions addressed in the Report:
- Which key factors are expected to hamper global market growth during the forecast period?
- Which application segment revenue is expected to expand at a rapid CAGR between 2021 and 2028?
- Which regional segment is expected to account for largest revenue share over the forecast period?
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