Market Analysis
The virtualized evolved packet core market is likely to reach USD 11568.8 million at a favorable 51.7% CAGR by 2023, states the latest Market Research Future (MRFR) report.
Drivers
Growing Demand for Increased Bandwidth to Boost Market Growth
The growing requirement for increased bandwidth for running mobile networks had made the telecommunication operators in searching for cost-effective solutions that will boost the market growth over the forecast period.
Opportunities
Increasing Penetration of IoT and Machine to Machine Communication Devices to offer Robust Opportunities
The increasing penetration of IoT and machine to machine communication devices will offer robust opportunities for the market in the forecast period.
Restraints
Rising Security Concerns to act as Market Restraints
The rising security concerns may act as a market restraint over the forecast period.
Challenges
Integration of vEPC with Existing Mobile Core Systems to act as Market Challenge
The integration of vEPC with existing mobile core and back office systems will act as market challenge over the forecast period.
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Market Segmentation
The virtualized evolved packet core market is bifurcated based on end user, use case, deployment, and component.
By component, the services segment will lead the market over the forecast period for the increasing commercialization and testing of 5G-ready solutions.
By deployment, the on-premise segment will dominate the market over the forecast period.
By use case, the IoT and M2M segment will spearhead the market over the forecast period.
By end user, the telecom operator segment will have the lions share in the market over the forecast period.
COVID-19 Analysis
The COVID-19 pandemic has severely disrupted supply chains and businesses across the world. It claimed countless lives and severely impacted several economies globally. As a result, various organizations plan in incorporating virtualized evolved packet core have been delayed, thus negatively impacting the market growth. Besides, delayed 5G deployments across different countries too have impacted the various sectors’ decisions for incorporating virtualized evolved packet core.
Regional Analysis
North America to Lead Virtualized Evolved Packet Core Market
North America will lead the virtualized evolved packet core market over the forecast period. The presence of major technical players, robust infrastructure, expansion of LTE-advanced and LTW networks, telecom operators rolling out new applications like wireless broadbands, M2M, and IoT, and favorable government initiatives are adding to the virtualized evolved packet core market growth in the region.
Key Players
Eminent industry players profiled in the global virtualized packet core market report include Nokia Corporation (Finland), Cisco System Inc. (US), Ericsson AB (Sweden), Samsung Electronics (South Korea), Huawei Technologies Co. Ltd (China), NEC Corporation (Japan), ZTE Corporation (China), Mitel Networks Corporation (US), Affirmed Networks (US), and Athonet S.R.L. (Italy).
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The global virtualized packet core market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more. Besides, they are also investing in various research and development activities.
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