Newly-released Virtualized Evolved Packet Core analysis report by Future Market Insights reveals that global sales of Virtualized Evolved Packet Core in 2021 were held at USD 4.8 Billion.
With 15.9% projected growth from 2022 to 2032, the market is expected to reach a valuation of USD 26 Billion by 2032. Virtualized Evolved Packet Core Services is the highest revenue-generating segment and is projected to grow at a CAGR of over 15.9% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Global Virtualized Evolved Packet Core Size (2022) | USD 5.9 Billion |
| Global Virtualized Evolved Packet Core Size (2032) | USD 26 Billion |
| Global Virtualized Evolved Packet Core CAGR (2022 to 2032) | 15.9% |
| USA Virtualized Evolved Packet Core CAGR (2022 to 2032) | 15.7% |
| Key Companies Covered | ERICSSON; HUAWEI; NOKIA; ZTE; CISCO; Samsung; Affirmed Network; Mavenir; NEC; Tech Mahindra |
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As per the Global Virtualized Evolved Packet Core research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2015 to 2021, the value of the Virtualized Evolved Packet Core increased at around 23.6% CAGR.
The key revenue drivers which affect the Virtualized Evolved Packet Core demand include an increase in data traffic on mobile networks.
By the end of 2020, it is predicted that monthly mobile data traffic would amount to about 51 exabytes (EB), and by the end of 2026, it is anticipated to total 226 EB. Currently, 66% of all mobile data traffic is video. Both the rising average amount of data per subscription and the growing subscription rate for smartphones are pivotal for the increase in traffic.
India, one of the countries where data traffic growth has been on the rise, continues to account for the highest monthly smartphone usage at 15.7 GB.
The key factors which are propelling the Virtualized Evolved Packet Core demand include chances for MNOs to benefit from the expansion of the IoT sector. It is anticipated that mobile network operators would commercially use virtual EPC in their live networks to serve a variety of use cases.
In the heterogeneous IoT world, the ability of MNOs to cost-effectively modify their networks for specific clients, sectors, and applications is crucial.
Additionally, it enables ISPs and businesses to connect mobile and IoT devices, data centers, and public or private clouds by supporting low-latency use cases at the network edge. By connecting all different kinds of devices, systems, and services, the Internet of Things and the ongoing development of Machine-to-Machine (M2M) communication networks have been revolutionizing several industries. IoT is one of the numerous use cases that 5G that would allow and enable communication between a significant number of connected devices and sensors, with the help of network segmentation.
According to their application needs, high-performance, low-latency applications such as mobile video surveillance and low-power, low-latency, long-range IoT apps can be separated. The shift from LTE to 5G is expected to quicken in order to fulfill the demands for creating IoT applications, which are characterized as massive machine-type communication and mission-critical applications.
The growth of the vEPC market is being driven by the requirement to support the steadily rising number of devices connecting to the Internet. The COVID-19 outbreak has caused a significant drop in Internet of Things connectivity. Narrowband-IoT (NB-IoT) and Cat-M are anticipated to account for 52% of all cellular IoT connections, according to the Ericsson Mobility Report. 2G, 3G, 4G, and 5G services are further important IoT mobile connectivity modalities.
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One of the key factors restraining the market of Virtualized Evolved Packet Core is growing security concerns. The network, which can result in significant losses for both enterprises and service providers, is a key issue for CIOs. SDN, NFV, and cloud-native architecture were used to construct the new network infrastructure.
Local, regional, and centralized data centers house the network functions, which are isolated from the underlying infrastructure. Most network services in a 4G/LTE cloud network are deployed through public and private cloud infrastructure.
The current legacy networks (2G, 3G, and 3.5G) and internet service networks are connected to the 4G/LTE network, as well as vertical industry networks including automotive, medical, factories, and IoT devices. With a focus on 4G/LTE networks, it will build a network connection fabric made up of intricate heterogeneous networks.
North America is expected to account for the largest Virtualized Evolved Packet Core market throughout the projection period. Due to the presence of sizable telecom oligopolies, the North American area is anticipated to account for a sizeable portion of the market for vEPC solution providers. Mobile service providers use their networks, including wireless broadband, Internet of Things (IoT), and machine-to-machine (M2M).
The introduction of the Citizen Broadband Radio Service (CBRS) band by the US government in 2018 for private operators and businesses will serve as a driver for the expansion of vEPC solutions in the enterprise market.
The market in the region is expanding as a result of the rising demand for VoLTE and the growing use of multimedia services. Also, the government initiatives encourage the development of the mature virtualized packet market as well as the presence of numerous telecom behemoths in the area.
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The USA is expected to account for the highest market of USD 9.2 Billion by the end of 2032. It is expected to be projected to account for an absolute dollar growth of USD 7.1 Billion. The vEPC industry benefitted from the US government's 2018 establishment of the Citizens Broadband Radio Service (CBRS) band for companies and private operators.
VoLTE demand and enhanced multimedia service rollout should both lead to further growth in the market in the area. In the coming years, the regional market will continue to expand significantly due to the presence of sophisticated telecommunications network infrastructure and the rising use of 4G technology. The existence of numerous telecom behemoths and advantageous government measures that increase the utilization of virtualized evolving packet cores may serve as further growth drivers.
The high-value market for virtualized evolved packet core market in the country is also supported by the market-leading companies present in the region such as Cisco, Affirmed Networks, Mavenir, Parallel Wireless, Polaris Network, Xingtera, Lemko, Tecore, among others.
The service component of Virtualized Evolved Packet Core accounted for the highest market for Virtualized Evolved Packet Core. Demand growth of Virtualized Evolved Packet Core Services was recorded at 23.4% from 2015 to 2021, while it is expected to grow at a CAGR of 15.6% from 2022 to 2023. The demand for support services among telecom operators and businesses is anticipated to expand as the use of vEPC solutions develops.
The use of vEPC services can minimize expenses and operational costs, boost overall revenue, and enhance corporate performance. Organizations can monitor, assess, and analyze their business requirements with the use of these services in order to make wiser decisions.
5G Network is the most widely utilized network for Virtualized Evolved Packet Core. Demand growth through the 5G Network was recorded at 23.1% from 2015 to 2021, while it is expected to grow at a CAGR of 15.4% from 2022 to 2023. The modern vEPC architecture is an open-source environment for cloud-Native networking. Because mobile networks were held in structure for decades and vendors have effectively not changed, businesspeople are restricted to the legacy vendor architecture.
From the same perspective that a majority of the same functionality only is now available because of the development of new networking technology, networks are now being transitioned from the old network to software-defined, automated 5G NSA architecture. Software-based architecture is more prone to providing automation and improved service adaptability. A good example of a 5G use case that would focus on the industrial and business vertical sectors is the installment of APIs to manage all aspects of a network's resources. These services should be submitted by APIs that automate all kinds of a network's resources in order to perform properly.
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in Virtualized Evolved Packet Core are focused on their alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their Virtualized Evolved Packet Core share.
Some of the recent developments in the Virtualized Evolved Packet Core Market are:
The global Virtualized Evolved Packet Core is worth more than USD 4.8 Billion at present.
The value of Virtualized Evolved Packet Core is projected to increase at a CAGR of around 15.9% from 2022 to 2032.
The value of Virtualized Evolved Packet Core increased at a CAGR of around 23.6% from 2015 to 2021.
The global demand for Virtualized Evolved Packet Core Market is being fueled by data traffic on mobile networks and numerous chances for MNOs to benefit from the expansion of the IoT sector.
The growth of market for vEPC in China is projected to expand at a CAGR of around 15.4% from 2022 to 2032.
The growth of the market for Silicon on Insulator in United States is projected to expand at a CAGR of around 15.7% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 13.5%, the market in Japan is projected to register a CAGR of nearly 14.3% from 2022 to 2032.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background 5. Key Success Factors 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Component 8.1. Solution 8.1.1. MME 8.1.2. HSS 8.1.3. S-GW 8.1.4. PDN-GW 8.2. Services 8.2.1. Professional Services 8.2.1.1. Consulting Services 8.2.1.2. Integration and Deployment Services 8.2.1.3. Training and Support Services 8.2.2. Managed Services 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Network Type 9.1. 5G Network 9.2. 4G Network 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Deployment Mode 10.1. Cloud 10.2. On-Premises 11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By End User 11.1. Telecom Operators 11.2. Enterprises 12. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application 12.1. LTE, VoLTE, and VoWiFi 12.2. IoT and M2M 12.3. Broadband Wireless Access 13. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 13.1. North America 13.2. Latin America 13.3. Europe 13.4. Asia Pacific 13.5. Middle East and Africa (MEA) 14. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032 18. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 19. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032 20. Market Structure Analysis 21. Competition Analysis 21.1. ERICSSON 21.2. HUAWEI 21.3. NOKIA 21.4. ZTE 21.5. CISCO 21.6. AFFIRMED NETWORKS 21.7. MAVENIR 21.8. SAMSUNG 21.9. ATHONET 21.10. NEC 22. Assumptions and Acronyms Used 23. Research Methodology
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Virtualized Evolved Packet Core (vEPC) Market
