Virtualized Evolved Packet Core (vEPC) Market Size and Share to Exceed $8.7 Billion by 2028

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WASHINGTON, Jan. 25, 2023 (GLOBE NEWSWIRE) — The global virtualized evolved packet core market was valued at US$ 4.1 billion in 2021 and is projected to reach a value of US$ 8.7 billion by 2028 .at a CAGR (average annual growth rate) of 22.1% during the forecast period 2022-2028.

Market overview

According to Vantage Market Research, key factors are expected to accelerate the growth of the Virtualized Evolved Packet Core market during the forecast period. The key factors driving the growth of the Virtualized Evolved Packet Core market are the growing demand for 5G network commercialization, the growing need to reduce operational expenditure (OPEX) and capital expenditure (CAPEX), deployment of IoT and flexible networks, and increasing demand of broadband services over mobile networks.

We forecast that the market sales of the Virtualized Evolved Packet Core solution category will account for more than 59% of the total sales by 2028. The reasons for the growth of this market segment include the increased demand for high-speed and wide network coverage and the growing requirement to reduce OPEX and CAPEX.

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Market dynamics

Mobile data traffic levels have increased significantly, driving market expansion

The main drivers of the increase in mobile data traffic are the constantly changing mix of wireless devices and their rapid global growth as access points for mobile networks. Mobile data traffic is growing worldwide due to the growing adoption of smartphones and the availability of low-cost, high-speed network services. For example, GSMA Intelligence predicts that the percentage of people using smartphones worldwide will grow from 65% in 2021 to 80% by the end of 2025. By 2025, 45% of all mobile data traffic will be carried by 5G networks, according to Ericson. Thus, to control data traffic, virtualized evolving packet core solutions are now required due to increased mobile data traffic. Effective mobile data traffic management improves throughput, reduces network congestion issues, optimizes resource utilization, and improves quality of service. This is made possible by the use of Virtualized Evolved Packet Core.

Adoption of IoT & M2M to drive market growth

IoT and M2M services are expected to grow significantly during the forecast period. Many mobile operators have deployed vEPC in the core IoT packet network. Solution providers VEPC are also preparing NFV solutions for IoT cellular network. The operator can easily provide better connectivity for M2M devices and explore new customer propositions by using the vEPC solution in the IoT core network that enables. Due to the increasing number of deployments carried out by telecom operators in North America, Asia Pacific and the Middle East, IoT and M2M will represent the most significant opportunity for vEPC solution providers in the coming years. IoT prospects for various mobile operators are made possible by vPEC. Compared to the smartphones and tablets that dominate today’s networks, IoT applications have significantly different network needs.

Top Players in Global Virtualized Evolved Packet Market

  • Cisco Systems Inc. (USA)

  • Telefonaktiebolaget LM Ericsson (Sweden)

  • NEC Corporation (Japan)

  • Mavenir (USA)

  • ZTE Corporation (China)

  • Red Hat Inc. (USA)

  • Nokia Corporation (Finland)

  • Huawei Technologies Ltd. (China)

  • Affirmed Solutions Inc. (USA)

  • Samsung Electronics Ltd. (South Korea)

For additional information on Virtualized Evolved Packet major market players and detailed list, download report PDF brochure

Top Trends in Global Virtualized Evolved Packet Market

  • One trend that Vantage Market Research (VMR) expects to see in the Virtualized Evolved Packet Core industry is an increase in data traffic on mobile networks. Mobile data traffic is expected to reach 51 exabytes (EB) by the end of 2020 and 226 EB by 2026. Video currently accounts for 66% of all mobile data traffic. Traffic growth is largely driven by rising average data per subscription and rising smartphone subscription rates.

  • Another trend that VMR predicts will continue in the Virtualized Evolved Packet Core industry is the rise in demand for 5G networks. The market for vEPC is driven by the development of 5G infrastructure. There are many new technological developments such as 5G in the telecommunications sector. The use of technologies such as IoT motivates MNOs to develop 5G infrastructure due to the increase in data traffic.

Top findings in the report

  • On the basis of component, the solution category controls the majority of revenue in the Virtualized Evolved Packet Core market. The significant market share of this sector is mainly due to the growing need for high-speed and extensive network coverage, the growing need to reduce OPEX and CAPEX, the growing volume of mobile data traffic, and the expanding use of network virtualization.

  • Based on the decision, most of the MME category controls the majority of the revenue in the Virtualized Evolved Packet Core market. In addition to supporting subscriber authentication, roaming, and network handovers, it manages mobility sessions for the LTE network.

  • On the basis of service, the majority of revenue in the Virtualized Evolved Packet Core market is controlled by the professional services category. Professional services from VEPC help businesses run better by increasing overall revenue and reducing costs and operating expenses. These services enable businesses to monitor, assess and analyze their business requirements to make more informed decisions.

  • On the basis of network, the majority of the Virtualized Evolved Packet Core market revenue is controlled by the 5G network category. The next-generation virtualized core network architecture is the cloud-born VEPC market. Due to legacy vendor architectures that have not changed in practice for over 25 years of mobile networks, operators are limited.

  • On the basis of end-users, majority of the Virtualized Evolved Packet Core market revenue is controlled by the telecom operator category. Telecom operators in many nations have already used these solutions. South Korean operator SK Telecom successfully deployed a Virtualized Evolved Packet Core solution in 2015.

  • Based on deployment mode, the majority of the Virtualized Evolved Packet Core market revenue is controlled by the on-premise category due to the increased control that virtualized evolved packet core network infrastructure offers to on-premises solutions.

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Recent Developments in the Global Virtualized Evolved Packet Market

Solutions category in Virtualized Evolved Packet Core Market to generate over 59% revenue

Virtualized evolved package cores are an expensive investment. Vantage Market Research analyzes the Virtualized Evolved Packet Core market to understand its current state and potential future growth factors. For better understanding, on the basis of component, the Virtualized Evolved Packet Core market is segmented into solutions and services.

During the forecast period, the Virtualized Evolved Packet Core market is expected to experience the highest CAGR for the solution category as more vEPC systems are deployed to meet the growing need for high-speed data networks.

On the other hand, the services category is expected to grow significantly due to its crucial role in the deployment and integration of next-generation network systems for enterprise environments.

Asia Pacific in the virtualized evolved packet core market to generate more than 37% revenue

Asia Pacific dominates the market for Virtualized Evolved Packet Cores and this trend of dominance will continue throughout the forecast period. The increasing use of technologies such as cloud computing and the Internet of Things is the key factor behind the rapid growth of this region. Furthermore, the region is expected to expand rapidly over the next few years due to rapid 5G deployment in Asia Pacific nations, growing subscriber base, favorable government policies and regulations, and demand for broadband services.

Explore tables and figures of market data spread over 142 pages and in-depth content Virtualized Evolved Packet Kernel Market Forecast Report (2022-2028).

Global Virtualized Evolved Packet Core Market Segmentation

By component

By decision

Through services

By network

By end user

  • Telecom operators

  • enterprises

Through deployment mode

By region

  • North America

    • United States

    • Canada

    • Mexico

  • Europe

    • Germany

    • Great Britain

    • France

    • Italy

    • Spain

    • The rest of Europe

  • Asia and the Pacific

    • China

    • Japan

    • India

    • South Korea

    • Southeast Asia

    • The rest of the Asia-Pacific region

  • Latin America

    • Brazil

    • Argentina

    • The rest of Latin America

  • Middle East and Africa

    • GCC countries

    • South Africa

    • The rest of the MEA

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Scope of the report:

Report Attributes

Details

Market size in 2021

4.1 billion US dollars

Revenue Forecast to 2028

8.7 billion US dollars

CAGR

22.1% from 2022 to 2028

Base year

2021

Estimated year

2022 to 2028

Key players

Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, NEC Corporation, Mavenir, ZTE Corporation, Red Hat Inc., Nokia Corporation, Huawei Technologies Ltd., Affirmed Solutions Inc., Samsung Electronics Ltd.

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