Chicago, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The global Virtualized Evolved Packet Core (vEPC) Market is 8.4 billion for 2023 and is expected to be worth USD 19.9 billion by 2028, growing at a CAGR of 18.7% during the forecast period, according to a new report by MarketsandMarkets™.
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Virtualized Evolved Packet Core (vEPC) Market Dynamics:
Drivers
- Increasing number of LTE mobile subscribers and penetration of smartphones
- Growing mobile network data traffic
- Need for low OPEX and CAPEX
- Demand for cloud-native and service-based architecture
- Differentiated 4G services via network slicing
- Emerging Use Cases Supported By Network Slicing
Restraints:
- Rising security concerns
- Transition from legacy infrastructure to virtualized infrastructure
Opportunities:
- Growth of IoT market
- Increasing adoption of 5G-ready mobile networks
List of Key Players in Virtualized Evolved Packet Core (vEPC) Market:
- Nokia (Finland)
- Ericsson (Sweden)
- Cisco (US)
- Huawei (China)
- ZTE (China)
- Samsung (South Korea)
- Affirmed Networks (US)
- Mavenir (US)
- NEC (Japan)
- Athonet (Italy)
The increasing demand for scalable and flexible virtualized core network solutions is driving the growth of the vEPC market. As organizations and service providers anticipate the advancements in wireless technology, the vEPC market has emerged as a key enabler of seamless and efficient connectivity. Recognizing the transformative potential, investors and industry players invest heavily in research and development to meet the growing demand.
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By offering the model, the services segment is expected to grow at a higher CAGR during the forecast period.
The growth can be attributed to the increasing demand for various services related to vEPC solutions. Services such as consulting, deployment, integration, training, and support play a crucial role in assisting organizations in implementing and optimizing vEPC solutions. As businesses adopt virtualized core network solutions, they require specialized services to ensure a smooth and successful transition. Service providers offer expertise and guidance in deploying and managing vEPC, enabling businesses to achieve seamless connectivity and efficient network operations. The services segment presents significant opportunities for companies and stakeholders to leverage the growing demand for vEPC services and capitalize on the market's potential.
By deployment model, the cloud segment is expected to grow at a higher CAGR during the forecast period.
The cloud deployment segment in the vEPC market is expected to witness a higher compound annual growth rate (CAGR) during the forecast period. This growth can be attributed to the increasing adoption of cloud-based deployment models in the vEPC market. The cloud deployment model offers several advantages: scalability, flexibility, and cost-effectiveness. Organizations recognize the benefits of deploying vEPC solutions in the cloud, enabling them to efficiently scale their network infrastructure on-demand and allocate resources. The cloud-based vEPC deployments present significant growth opportunities for businesses and stakeholders.
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By region, Asia Pacific is expected to grow at a higher CAGR during the forecast period.
The Asia Pacific market is witnessing significant investments in developing 5G infrastructure, driving the demand for vEPC solutions to support the next-generation networks. Additionally, the growing adoption of smartphones, increasing internet penetration, and the rise of emerging technologies such as IoT and AI further fuel the demand for vEPC in the region. With a large population and expanding economies, Asia Pacific presents immense opportunities for vEPC vendors and service providers to cater to the evolving connectivity needs of businesses and consumers. The region's favorable regulatory environment and supportive government initiatives for digitalization also contribute to its growth potential in the vEPC market.
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