Virtual Evolved Packet Core Market revenue to hit USD 30 Billion by 2035, says Research Nester
Key virtual evolved packet core (vEPC) market players include Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Nanjing ZTE software Co. Ltd., Nokia Corporation, Huawei Technologies Co., Ltd., Affirmed Networks, Mavenir Systems, Inc., Samsung Electronics Co., Ltd., NEC Corporation, and Intel Corporation.
New York, Aug. 17, 2023 (GLOBE NEWSWIRE) — The global virtual evolved packet core (vEPC) market size is projected to expand at ~26% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 30 billion by the end of 2035, up from a revenue of ~USD 6 billion in the year 2022.Market growth is attributed to rising demand for high-quality wireless services and the rise of LTE consumers. Between the third quarter of the year 2019 and 2020, mobile network traffic increased by 50%, and by the year 2026, it is expected to triple. According to the International Telecommunication Union (ITU), 4G network coverage has doubled worldwide between 2015 and 2020. In the year 2020, about 85% of the world’s population was covered by 4G network. Continued development of vEPC frameworks with 5G networks that improve connectivity well beyond 4G LTE could also boost Virtual Evolved Packet Core (vEPC) market growth. (vEPC) is a mobile network framework that integrates voice functions and data processing.
Request Free Sample Copy of this Report @ market in the North American region is estimated to garner the largest revenue by the end of 2035. The regional growth can majorly be attributed to the increasing use of virtually packaged core solutions and services, including the highest adoption rate of 5G. The cooperation of market players to efficiently deploy vEPC at scale will drive the market growth. It is a factor. It is estimated that by the year 2025, more than 60% of all North American cellular connections will be over 5G networks. Virtual Evolved Packet Core (vEPC) is a cellular network voice and data processing and switching framework implemented by Network Functions Virtualization (NFV) that virtualizes the functions of the Evolved Packet Core (EPC). EPC refers to the core network architecture that aggregates access networks, including LTE, 3G, and 2G. Virtual EPC (vEPC) is a complete LTE packet core solution based on Network Function Virtualization (NFV) technology. The Evolved Packet Core helps combine voice and data in an Internet Protocol Services Architecture. It helps the service operator operate and deploy his 2G, 3G, LTE, WiFi, or packet networks for fixed access such as cable and DSL.
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Technological Revolution to Drive Growth in the Asia Pacific Region
The virtual evolved packet core (vEPC) market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035. The growth of the market in this region can primarily be attributed to the fact that the region is witnessing dramatic technological change and infrastructure growth. In the year 2020, the ITU estimated that 4G networks would cover around 94% of the region’s population. Additionally, countries such as Japan, South Korea, Australia, Singapore, China, and India are increasingly adopting technologies such as VR, AR, and IoT that require data-intensive and seamless network connectivity, contributing to the growth of the vEPC market. It is estimated to create big opportunities in the region. The European region is expected to closely follow the Asia Pacific region and hold a large share of the global market during the forecast period. According to the International Telecommunication Union (ITU), an estimated 98% of the European population used 4G network connections in the year 2020. 4G stands for “fourth generation wireless,” the stage of broadband mobile communications that will replace 3G (third generation wireless) and be the predecessor to 5G (5th generation wireless).
Virtual Evolved Packet Core (vEPC), Segmentation by Deployment Type
- Cloud
- On-Premises
Between these two segments, the cloud segment in virtual evolved packet core (vEPC) market is anticipated to hold the largest share over the forecast period. The growth of the segment can be attributed to the increasing use of cloud solutions to meet the growing demand for high-speed data networks. The segment is expected to grow the most during the forecast period as it plays a key role in delivering and integrating next-generation network solutions for business environments. Organizations’ rapid migration to the cloud and growing need to reduce overall equipment costs are also expected to contribute to segment growth. According to observations, cloud-based services are expected to grow by 30% in the year 2023 and are estimated to grow further during the forecast period.
Virtual Evolved Packet Core (vEPC), Segmentation by Application
- LTE, VoLTE & VoWiFi
- IoT & M2M
- MPN & MVNO
- BWA
Amongst these two segments, the LTE, VoLTE, & VoWiFi segment in virtual evolved packet core (vEPC) market is anticipated to hold a significant share over the forecast period. VoWiFi, short for Voice over Wi-Fi or simply Wi-Fi Calling, allows users to make and receive calls over Wi-Fi networks for better coverage and a better calling experience. VoLTE, or Voice over LTE, uses the LTE network, so the users can use mobile data to stay online while making and receiving calls. LTE does not provide good quality voice calls while using data service. VoLTE allows users to enjoy high-quality voice calls over data services. LTE stands for Long Term Evolution and is sometimes called 4G LTE. It’s a wireless data transmission standard that allows you to download your favorite music, websites, and videos at blazing fast speeds, much faster than previous 3G technologies. VoLTE stands for voice over LTE. This is a technology that allows us to make voice calls over LTE networks instead of the 2G and 3G networks we normally use. VoWiFi, or Voice over Wi-Fi, short for Wi-Fi Calling, is a complementary technology to VoLTE that allows you to make voice calls over Wi-Fi networks. As of the year 2022, number of smartphone users worldwide was nearly 6500 million. Hence, growing adoption of smart phones is estimated to add to segment growth.
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Virtual Evolved Packet Core (vEPC), Segmentation by End User
- Telecom Operators
- Enterprises
Virtual Evolved Packet Core (vEPC), Segmentation by Component
- Solutions
- Services
Few of the well-known industry leaders in the virtual evolved packet core (vEPC) market that are profiled by Research Nester are Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Nanjing ZTE software Co. Ltd., Nokia Corporation, Huawei Technologies Co., Ltd., Affirmed Networks, Mavenir Systems, Inc., Samsung Electronics Co., Ltd., NEC Corporation, Intel Corporation, and other key market players.
Recent Development in the Virtual Evolved Packet Core (vEPC) Market
- Mavenir Systems, Inc. deploys cloud-native LTE vEPC to support Hudson Valley Wireless project. The project brings communities to underserved and underserved areas through grants and networks formed in public-private partnerships (P3) with state, federal, and local governments.
- Telia Company has partnered with VMware to support their move to cloud-native infrastructure. This is a fundamental factor for the successful deployment of 5G networks.
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