REDDING, Calif., May 22, 2024 /PRNewswire/ -- According to a new market research report titled, 'Virtualized Evolved Packet Core Market by Component (Solutions, Services), Application (LTE, VoLTE, IoT & M2M, MPN & MVNO), Deployment Mode (On-premise, Cloud), End User (Telecom, Enterprises), and Geography - Global Forecast to 2031,' the virtualized evolved packet core market is projected to reach $19.87 billion by 2031, at a CAGR of 19.3% from 2024 to 2031.
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Virtualized Evolved Packet Core (vEPC) is a framework for virtualizing the functions required to converge voice and data on 4G LTE networks. vEPC enables communication service providers to reduce costs by moving core network components of LTE networks from high-cost dedicated hardware to low-cost commercial off-the-shelf (COTS) servers. Besides, virtualized evolved packet core technology offers several benefits such as high performance, scalability, reliability, automation, reduction in network costs, and low-latency delivery of real-time applications.
The growth of the virtualized evolved packet core market is driven by the significant increase in mobile data traffic volumes and the rising demand for high-speed data services. However, the data security risks associated with virtualized evolved packet core infrastructure restrain the growth of this market. Furthermore, increasing investments in 5G technology, the rising adoption of cloud-native 5G core solutions, and the growing adoption of IoT technology are expected to generate growth opportunities for the players operating in this market. However, the reliability of Virtualized Evolved Packet Core (vEPC) solutions and misconceptions and a lack of knowledge regarding vEPC solutions are major challenges impacting market growth. Additionally, the integration of edge computing with virtualized evolved packet core technology is a prominent trend in the vEPC market.
The virtualized evolved packet core market is segmented by component (solutions [mobility management entity, home subscriber server, serving gateway, packet data network gateway, and policy & charging rules function] and services [professional services {integration services, consulting services, and training & maintenance services} and managed services]), application (Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO), Long-term Evolution & Voice over Long-term Evolution (LTE & VoLTE), and Internet of Things & Machine to Machine (IoT & M2M)), deployment mode (on-premise deployments and cloud-based deployments), end user (telecom operators, enterprises [BFSI, information technology, travel & consumer, media & entertainment, healthcare, and other enterprises], and other end users), and geography. The study also evaluates industry competitors and analyses the market at the country and regional levels.
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Based on component, in 2024, the solutions segment is expected to account for the larger share of the virtualized evolved packet core market. The segment's large market share is attributed to the growing mobile data traffic volumes and the increasing benefits associated with virtual evolved packet core, such as agility, flexibility, scalability, and low-latency delivery of real-time applications.
However, the services segment is expected to register the higher CAGR during the forecast period. The growth of this segment is driven by the wide adoption of vEPC services across telecom operators, the growing need for vEPC consulting and vEPC solution development and maintenance, and the growing demand for consulting, training & support, and integration services.
Based on application, in 2024, the Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO) segment is expected to account for the largest share of the virtualized evolved packet core market. The segment's large market share is attributed to the increasing penetration of mobile devices, the rising demand for low-cost mobile services, and the increasing demand for high-speed internet connectivity and improved voice, video, and mobile internet.
However, the Internet of Things & Machine to Machine (IoT & M2M) segment is expected to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing need to monitor and control real-world objects, such as industrial equipment, light switches, thermostats, sensors, and actuators, the increasing demand for remote monitoring of devices for cost-effectiveness, and the rising adoption of IoT & M2M for remote access to industrial assets and their data streams.
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Based on deployment mode, in 2024, the on-premises deployments segment is expected to account for the larger share of the virtualized evolved packet core market. However, the cloud-based deployments segment is expected to register the higher CAGR during the forecast period. The growth of this segment is driven by the benefits associated with cloud-based deployments, including easy maintenance of customer data, cost-effectiveness, and scalability, the increasing demand for cloud-based vEPC for the use of cloud networks, and the superior flexibility offered by cloud deployments.
Based on end user, in 2024, the telecom operators segment is expected to account for the largest share of the virtualized evolved packet core market. The segment's large market share is attributed to the increasing need to reduce operational expenditure (OPEX) and capital expenditure (CAPEX) in the telecom sector, telecom operators' increasing need to offer better speed and bandwidth connectivity and reliable application services, and the increasing adoption of vEPC solutions among telecom operators to improve latency issues and enhance IT agility. Also, this segment is expected to register the highest CAGR during the forecast period.
Based on geography, in 2024, North America is expected to account for the largest share of the virtualized evolved packet core market. North America's significant market share can be attributed to the growing adoption of virtualized evolved packet core solutions to enhance network infrastructure, the increasing proliferation of advanced networking and communication technologies, the rising demand for cloud-based services, and government support for developing 5G telecom infrastructure.
However, Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth of this regional market is driven by the rising adoption of network function virtualization solutions and cloud services, the growing deployment of 5G-ready cloud core and Network Functions Virtualization Infrastructure (NFVI) solutions, and the high penetration of mobile devices and smartphones in developing countries.
The key players operating in the virtualized evolved packet core market are Cisco Systems, Inc. (U.S.), Telefonaktiebolaget Lm Ericsson SE (Sweden), Huawei Technologies Co., Ltd. (China), Samsung Electronics Co., Ltd. (South Korea), Nokia Corporation (Finland), Affirmed Networks (a subsidiary of Microsoft Corporation) (U.S.), Mavenir Systems, Inc. (U.S.), ZTE Corporation (China), F5 Inc. (U.S.), NEC Corporation (Japan), IPLOOK Networks (Hong Kong) Co., Limited (Hong Kong), Parallel Wireless, Inc. (U.S.), Polaris Networks (a subsidiary of Motorola Solutions, Inc.) (U.S.), Athonet S.r.l. (a subsidiary of Hewlett Packard Enterprise) (Italy), Intel Corporation (U.S.), Tecore Networks (U.S.), Lemko Corporation (U.S.), and Metaswitch Networks Ltd (a subsidiary of Microsoft Corporation) (U.K.).
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Scope of the Report:
Virtualized Evolved Packet Core (vEPC) Market Assessment-by Component
- Solutions
- Mobility Management Entity
- Home Subscriber Server
- Serving Gateway
- Packet Data Network Gateway
- Policy & Charging Rules Function
- Services
- Professional Services
- Integration Services
- Consulting Services
- Training & Maintenance Services
- Managed Services
- Professional Services
Virtualized Evolved Packet Core (vEPC) Market Assessment-by Application
- Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO)
- Long-term Evolution & Voice over Long-term Evolution (LTE & VoLTE)
- Internet of Things & Machine to Machine (IoT & M2M)
Virtualized Evolved Packet Core (vEPC) Market Assessment-by Deployment Mode
- On-premise Deployments
- Cloud-based Deployments
Virtualized Evolved Packet Core (vEPC) Market Assessment-by End User
- Telecom Operators
- Enterprises
- BFSI
- Information Technology
- Travel & Consumer
- Media & Entertainment
- Healthcare
- Other Enterprises
- Other End Users
Virtualized Evolved Packet Core (vEPC) Market Assessment -by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Netherlands
- Norway
- Sweden
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Malaysia
- Singapore
- Australia & New Zealand
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest of the Middle East & Africa
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